Investment Opportunities in Halifax
Located in West Yorkshire surrounded by the South Pennine moors, Halifax is perfectly placed to benefit from the wave of investment which has spread across the North West into Yorkshire. Benefitting from a recent £58 million town centre revamp, Halifax is bristling with investment activity across a range of industries and public-sector services.
As a town that boasts beautiful architecture, culture hotspots and industrial age history, Halifax represents an ideal opportunity for property investors looking to add both new and heritage real estate to their portfolio.
A great investment
Current real estate property in Halifax offers an unmissable investment opportunity, with drastically undervalued prices compared to other key cities in the North.
The average house price is currently £129,274, an increase of over 14% in the past five years which demonstrates the steady growth in the area. Overall, prices in Halifax over the past year were up 4% on the previous year and up 11% on the 2014 level, according to Rightmove.
Buy-to-let investors can take advantage of high-income yields with high quality buy-to-let apartments for a significantly lower investment than other UK cities.
A strong rental market
The average property rent in Halifax is currently around £540 PCM for a three-bedroom house while a one-bedroom apartment comes in at £399. Compare that to nearby Leeds where a three-bedroom house demands an average monthly rental price of around £970 and a one-bedroom apartment £576, this demonstrates that Halifax offers fantastic rental savings for commuters to Leeds living only 30 minutes away.
Halifax’s rental demand is higher than ever, driven by an influx of young professionals and families forming thriving communities. This has resulted in rental returns far outweighing those found in other comparable towns and cities.
The rental demand looks set to increase with the ongoing redevelopment of Halifax’s town centre. A project that will transform and enhance the city’s historical central core.
A £58 million town centre revamp – an exciting future
Halifax is currently undergoing an extensive programme of regeneration, accelerated by unprecedented investment in the town and its economic and residential infrastructure.
This includes a £58M plan to revamp Halifax town centre. The mission is to modernise historic buildings and roads in what Calderdale Council are describing as: “once-in-a-lifetime travel improvements and regeneration in Halifax town centre”.
The gentrification of this once industrial town is transforming it in a way that embraces and enhances its unique heritage.
Piece Hall, the UK’s only surviving 18th Century cloth trading hall, has been newly converted into a public piazza space. The £19m restoration project was a real success, attracting 80,000 visitors in its first week and hosting cultural events and concerts.
The restored Piece Hall is Halifax’s obvious centrepiece, a Georgian cloth hall forming the kind of plaza you’d expect to find in a European capital. However, the regeneration process is best symbolised by the restoration of Dean Clough. This 220-acre mill complex, once one of the largest textile factories in the world, has been given a new lease of life as a centre for business, leisure, and the arts.
Similarly, old industrial stone buildings in the centre offer opportunities for high-street retail chains to move to the town, boosting the local economy by bringing new jobs to the area. The former mill town’s revival has already seen major companies relocate to the town.
Quality of life is Halifax’s unique selling point, and local decision-makers are enshrining it as the key focus of all future changes. Halifax’s good schools and child-friendly attractions are just some of the reasons why families priced out of the Leeds suburbs are moving to Calderdale. Coupled with cheaper purchase and renting prices, this has resulted in a resurgence of interest from young professionals looking to buy affordable period homes with garden space.
Location, Location, Location – established transport links to Leeds, Manchester and the Greater North
Halifax is ideally placed within the M62 corridor, on a main Trans Pennine rail route between the two prosperous city regions of Leeds and Manchester, and between Huddersfield and Bradford. This allows quick and easy access to a population in excess of 5.5 million providing significant economic opportunities.
Halifax is within the borough of Calderdale, home to real contrasts where lively historic town centres and vibrant markets meet dramatic countryside. The area currently has over 8,000 businesses and a population in excess of 200,000 people, which is expected to grow by 25,000 over the next 20 years. Halifax is seen as an enterprising location with the highest level of business start-ups in the region.
Accessible architecture and culture
Halifax is a town of culture, heritage and impressive architecture. Home to Eureka! The National Children’s Museum, Calderdale Industrial Museum, six theatres and several independent art galleries, the city’s impressive range of cultural offerings add tourist attraction to the list of benefits.
Modern additions include a new £10m central library, a wooden-clad youth centre with a skateboard park on the roof, and a historic redbrick chapel now adorned with a copper and glass extension housing a bar and cinema.
Property Investment in Halifax
For those looking to build a property portfolio, Halifax offers a great opportunity.
At Fitzwilliam Capital Partners, we’re always looking for unique, high yield opportunities for our clients. Once identified, we design and build high quality properties ourselves, selling them directly onto property investors at competitive rates.
Find out more about Halifax and the unique opportunity The Library by Fitzwilliam offers today. Get in touch with Hayley Moore on 0161 641 3100 or email us at hello@fitzwilliam-cp.com.
Fitzwilliam Capital Partners currently offers investors the opportunity to purchase luxury apartments in Halifax city centre. Renovated to an incredibly high spec, prices start from £72,000 and investors can expect to make up to 18% ROI.