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An Award Winning City
Kingston upon Hull, more commonly referred to as Hull, is the 4th largest city in the region of Yorkshire & the Humber.
The unique city sits on the Northern shore of the Humber Estuary, on River Hull. Formerly a small English town in East Yorkshire, Hull has grown rapidly and achieved city status in 1897. In addition to winning the title of Capital of Culture 2017, Hull is seen as the ‘Most Poetic City’. It is home to noble poets including Philip Larkin and Andrew Marvell.
The diverse city is rich in culture and media and a wealth of history dating back to WW2 envelopes the city. A period where it ran as a market town, offering a military supply port, trading hub, and exporting wool.
2017Capital of Culture
2030Carbon Neutral Strategy
A Key Gateway Connecting the City
Hull is a key gateway on the UK’s busiest trading estuary. The Humber Ports are the UK’s biggest ports complex, supporting 12,000 jobs. These ports contribute over £800 million to Hull’s economy a year. In addition, the Port of Hull handles almost 10 million tonnes of cargo, amounting to £12bn in trade each year.
The economy of Hull continues to go from strength to strength. The 30-year Transport for the North plan worth £70bn, will heighten the well-connected and desirable location of Hull. The sustainable investment will deliver £100bn to the north’s economy, creating 850,000 jobs. Boosting the economy will directly affect property prices, increasing the value over time.
Connecting Hull to
The M62 motorway and A63 road link Hull to the cities of Leeds, Manchester, and Liverpool, as well as the rest of the country. The Highways England project is part of a wider £400m scheme, designed to ease congestion on the major road. For this reason, the city centre will connect to Hull’s marina area. The city is home to the world’s 8th longest suspension bridge – impressively, Humber Bridge is the only bridge of this scale, that you can cycle across!
Hull Paragon Interchange provides several direct services to London. Reaching the capital in 2 hours and 40 minutes. Frequent services run to other key northern cities in Leeds, Manchester and Sheffield. Alongside strong sea, rail and road connections, the city provides easy access to international airports. Humberside Airport and Leeds Bradford Airport are only a short drive away as well as Doncaster Sheffield Airport, Midlands, and Manchester Airport. Connecting the city to global destinations.
Over 8 Years Hull Received
Over the last 8 years, £1.5bn of regeneration investment has been poured into the ever-growing city of Hull. Arco, the UK’s leading safety equipment supplier has also invested £25m in a new National Distribution Centre in Hull. In 2019, construction began on the largest new-build office development in the city for more than half a century.
The Fruit Market has been revamped by Humber’s Local Growth Fund of £1.3 million, into Hull’s Centre for Digital Innovation (C4DI). The new, savvy tech hub is home to 200 tech firms with hundreds of digital specialists and freelancers. This social heart of Hull acts as a magnet for buyers and property investors.
Furthermore, the creation of Hull’s Local Plan will enable the growth of the flourishing city. The plan aims to deliver almost 10,000 new homes over the next 15 years. Therefore, providing ample opportunities for property developers and plenty of prospects for property investors. It is home to several world-class research and development facilities. Including the new multi-million-pound developments by RB and Smith & Nephew.
Hull’s Local Plan will act as a catalyst driving the city. It comes with no surprise Hull ranks as one of the three fastest improving cities (2017) to live and work in. The population is expanding alongside economic success. Consequently, more professionals, families, students, entrepreneurs, and businesses are moving to Hull.
The Fruit Market£83.6m
This project has transformed the Fruit Market into a vibrant, mixed-use city district with galleries, street art, and small businesses. Arco’s new £16m headquarters will be based there which will be the largest development of its kind in the city for over half a century. Humber Street received the Academy of Urbanism’s “Great Street” Award in recognition of its achievement.
This project will make major transformative changes to one of Hull's busiest roads. It will provide a spectacular footbridge to make a safer, less congested pathway between the city centre, waterfront, and regenerated Fruit Market. Alongside this, the Mytongate junction will be completely transformed. These two large projects will be carried out together to ease travel on the A63.
This project will welcome a revitalised leisure space, 12,000 sqm retail space, and 250 residential units, alongside a new multi-storey car park. A new ice arena will also feature in the heart of Hull. Albion Square has been regarded as one of the key regeneration projects in the city centre, as part of the city’s five-year economic plan.
Investors in the Environment
For the seventh consecutive year, Hull has been awarded the Investors in the Environment Green certificate.
With the introduction of electric vehicles and green driver training, the city slashed carbon emissions by 7% across 40 sites. In response to the Climate Emergency, Hull has also published a 2030 Carbon Neutral Strategy.
Hull is on track and striving to become UK’s leading smart city. Citywide 4G coverage and affordable ultrafast fibre-optic broadband has been integrated throughout the city. KCOM invested £85million for telecom firms to roll out the technology to 200,000 properties in 2019. A new £5milllion state-of-the-art CXNDC data centre will accelerate connectivity and create new prospects for locals and technology firms.
Hull is quickly becoming one of the north’s most desirable places to live in. With a strong, booming economy and multiple investments continuously injected into the city. Hull has proven to adapt and grow to future proof the economy and establishes itself as the UK’s leader in renewable energy. The Siemens Gamesa factory in Hull is producing the blades for the Hornsea Project Two. Not only will this be the world’s biggest wind farm when operational in 2022, but it will also boost the economy in the city. Thus, strengthening the housing and property investment market.
In recent years, the tourism sector has also played an increasingly prominent role in the process of economic regeneration. Therefore, raising the profile of the city and transforming it into the ideal investment location.
With many great landmarks, including the deepest aquarium in Europe, The Deep, Hull entices tourists from across the country. The city also hosts The Hull Fair, the largest and oldest travelling fair in Europe. It continues with an extraordinary history, showcasing every October, celebrating its 700th anniversary in 1993.
The city features new spectacular lighting and unique, colourful fountains in Queens Victoria Square. Mirrored pools at Trinity square and an Italian-style plaza surrounding Hull Minister. A £16m investment, revitalises the Hull New Theatre and welcomes the addition of Hilton hotel in Ferensway, Redeveloping the city creates art galleries, contemporary bars and music venues, which were once derelict houses.
The increase in tourism offers property investors an alternative investment model, namely in short term lets. Should you be interested in exploring serviced accommodation Hull could offer the perfect opportunity.
Hull is one of the most affordable places to buy property in the country. As of 2021, property investors can purchase a property for £158,458 on average, according to Zoopla. This is below the UK average house price of £343,000. Long-term, investing in this growing city will prove to be extremely profitable as the economy continues to expand rapidly. In fact, property prices in the city have increased by 10.7% during 2021, despite the uncertainty around the end of the stamp duty holiday and its effect on the property market. Buy to let landlords can also benefit from Hull’s large pool of potential tenants including international students and highly skilled energy sector workers. With low purchase prices, high rents and a growing economy, Hull will offer investors strong yields and impressive capital growth. It is certainly a city we are getting increasingly excited about.
Hull is not afraid of ambition and innovation. For an affordable but extremely profitable path into property investment, Hull could be the answer. Find out why Hull is the perfect place to build your property portfolio. Enquire to request our guide today.
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