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Located in Devon in the South-West of England, Plymouth held host to one of the most important battles in British history as Sir Francis Drake defeated the Spanish Armada in 1588. In fact, Sir Francis Drake, the first person to solely circumnavigate the world and one of the most decorated naval men in history, was born in this picturesque coastal city.
9.5%Capital Growth 2020
Perfect Modelfor Serviced Accomodation
Fast-becoming one of the South's
Plymouth is fast becoming one of South England’s best investment cities. With lower-than-average house prices compared to many southern cities, a large student population of nearly 20,000, an impressive tourist industry and extensive plans for regeneration. Plymouth should certainly not be overlooked when deciding on the location of your next investment property. The attractiveness of the city’s coastal location and Devon as a whole, especially during the pandemic, has catapulted house prices in Plymouth. In fact, they increased by a staggering 9.5% in 2020 alone. Despite average house prices rapidly increasing in Plymouth, they are still very affordable for investors. When taking into consideration the versatility of the rental market this is an attractive prospect.
Largest City in Devon &
As the largest city in Devon and the gateway to Cornwall, Plymouth attracts millions of visitors every year. Surrounded by some of the UK’s most iconic beaches and countryside, Plymouth is a popular base for travellers wanting to explore Devon and Cornwall.
Tourist numbers are only expected to increase with the UK population preferring to take ‘staycations’ in the wake of Coronavirus. This gives an investor the luxury of mixing the use of their investment property between short and long term lets but also serviced accommodation. With ‘staycations’ becoming increasingly popular in the UK, especially since the outbreak of Coronavirus, the serviced accommodation model in Plymouth could offer a lucrative rental option, certainly in the summer months.
Over the last five years, Plymouth has seen a huge revival with massive regeneration efforts underway and much more in the pipeline.
Once relying almost solely on the docking industry, which sadly fell into decline, the city is starting to reinvent itself. With an increasing amount of new office space and retail outlets being built over the coming years the city is pulling itself back to days of former glory. In fact, £417 million will be invested in Plymouth over the next five years through a record-breaking capital programme. This enormous investment will be aimed at creating jobs, improving roads, supporting the next generation of workers and making Plymouth a safe and enjoyable place to live and visit. This is all being done with sustainability at the forefront of architectural plans, with lots of gardens, trees and green spaces to epitomise what an ‘Ocean City’ should be.
This will be a landmark project for Plymouth. The £40m scheme will create a new, multi-use development, enhancing 144 flats that exist in the empty 14-floor tower. It will also host several restaurants and bars, plus improvements to public areas which will transform Civic Square.
Plymouth Train Station£80M
Expected to complete in 2027, the project's ambition is to make Plymouth station a key gateway and a welcoming and attractive area for visitors and commuters. It will provide space for a new hotel, another university building, and will improve connectivity to the city centre.
Royal William Yard£36M
Royal William Yard is a high-profile development regenerating a run-down area of Plymouth. The restoration of one building alone has created around 250 jobs. It is expected that plans for the creation of a hotel, restaurants, shops, and office accommodation will create a further 500 employment opportunities.
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