Derby is one of those cities that just goes about its business and from most people’s perspective it kind of slips under the radar. That is, unless you’re a property investor. Having been in the property investment industry for over 25 years, a couple of factors that have been significant in the industry over the last couple of years is the focus now being placed by investors outside of London, to the UK’s main cities and regions and, on the back of that, the growth now being experienced in the UK’s secondary cities as they start to benefit from the ripple effect of investment from other areas. Derby is one of these cities.
As the UK’s most central city, Derby’s strategic location has earned it a place in the ‘Top 25 European Cities Overall’, alongside major cities such as London (1st) Berlin (8th) and Paris (16th.). In addition to that, Derby has recently been ranked in sixth place in the UK by location experts CACI in terms of its potential to attract premium brands and top-end retailers such as John Lewis and Apple. This is a benchmark of the city’s true potential.
For anybody who really knows Derby, and I’ve had the pleasure of spending quite a lot of time there looking at and identifying property investment opportunities, you will realise that Derby has a more affluent catchment area than the East Midlands average. On the doorstep of vibrant University City Nottingham, Derby is benefitting from its proximity to high volumes of middle-income households that highlights the fact that Derby could definitely experience more growth in its already booming retail sector and attract more premium brands to the city.
Listed in the top 10 of the UK’s hottest retail locations
The opening of the Intu Derby shopping centre, formerly Westfield, has firmly put Derby on the map as an important retail centre and this, in turn, has opened up the eyes of investors to the potential of the city. Derby’s recent inclusion in Property Week’s top ten of the hot 100 retail locations in the UK is further testament to the city’s capacity to attract high profile retail brands.
As a property investor, Property Week carries a lot of kudos and credibility in the industry so the fact that Derby has been earmarked in the top ten has not gone by unnoticed. With recent arrivals such as Yo! Sushi, White Stuff, Turtle Bay, MAC and Byron in the city, then Derby is well placed to attract more high profile retailers.
Derby is enjoying a perfect storm…
At the moment Derby is benefitting from a perfect storm of regeneration, a thriving retail environment and its strategic location to Nottingham. All of this is making Derby highly attractive for University students, city commuters, young professionals and families.
With house prices around 13% below the national average, Derby is now attracting a great deal of interest from investors both from home and overseas. Prices in London make it difficult for investors to achieve high returns so serious investors are now focusing on the regions, which includes not only prime locations such as Birmingham and Manchester but also secondary cities like Derby, where there is an increasingly strong rental demand.
A prime investment opportunity in Derby
Now is a great time to invest in Derby and our Prosperity House development which is in the heart of the city, represents a unique opportunity to start or add to your property portfolio.
If you would like to find out more about Prosperity House and the potential that Derby has for attracting new investors, then please contact me now.