Buying student buy-to-let property in Chester
As an investor, the investment specifics are the key factor in deciding what you invest in but you might also be motivated by the history and culture of the city. If you’re looking for a modern city with a rich history then Chester is the one for you. Chester is renowned for its rich history full of architectural treasures preserved from Roman times. It is the best preserved walled city in not only Cheshire but in England. The city has a special mixture of traditional and modern culture at its heart.
Whilst preserving the history of the city, the city council has also launched plans to boost the economy of Chester. The £300million Chester Northgate project aims to transform the area into a new shopping, leisure and residential hotspot. Over 1,000 new jobs will be created, a four-star hotel called the Crowne Plaza, a department store, bars, shops, restaurants and most importantly, many new residential units are expected to be created.
For the university, a new student development close to Northgate Arena Leisure Centre is one of their most anticipated projects and investors are already securing units. There are over 20,000 students across a number of specialist sites within the region and this includes five sites in or around Chester, a campus in Warrington and the new University Centre in Shrewsbury. Demand is certainly there for this type of luxury accommodation as students are paying higher tuition fees than ever before. Accommodation of this level of quality is expected and developers and universities must deliver.
The off-plan development is around 10 minutes’ walk from the main university campus. Chester generally is big enough to offer an exciting life to students but also small enough for easy navigation and that continues to attract overseas students from all over the world. With international students increasing number every year, this luxury student accommodation is what the city needs at this moment.
Quick facts about Chester
- Construction of the city’s historical wall started 2000 years ago
- The city, situated in north west England is close to the border with North Wales
- The town’s racecourse, on the banks of the River Dee, is the oldest sporting venue in Britain that is still in use.
Source: The Complete University Guide https://www.thecompleteuniversityguide.co.uk/chester/
£300m Chester Northgate development gets planning permission http://chesternorthgate.com/2016/09/300m-chester-northgate-development-gets-planning-permission/
Chester Chronicle, Funding options on table for Chester's £300m Northgate Development http://www.chesterchronicle.co.uk/news/chester-cheshire-news/funding-options-table-chesters-300m-12901681