The UK is currently experiencing record levels of population growth, and the draw of the British Isles shows no sign of abating any time soon. Property is at a premium across many parts of the country and the government has recently announced that the amount of homes standing empty is currently at an all-time low.
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A Guide to Investing in Property in Huddersfield - Aspen Woolf
1. A Guide to Investing in Property in Huddersfield
The UK is currently experiencing record levels of population growth, and the draw of the
British Isles shows no sign of abating any time soon. Property is at a premium across
many parts of the country and the government has recently announced that the amount
of homes standing empty is currently at an all-time low.
The powers that be are under constant pressure to answer difficult questions about the
amount of housing that we will need to be able to accommodate the growing population
and it is expected that 20 per cent of the British public will be in rented accommodation
within the next five years. Is it any wonder that putting money into the property
investment market is still being viewed as one of the shrewdest moves that a person
can make? Not really.
However, there is one question that many would-be investors ask before expanding
their portfolio into property, and that is where should I be investing my money? Here, we
take a look at the historic market town of Huddersfield and explore some of the reasons
why we think that this part of Yorkshire offers investors a fine opportunity for growth.
Image credit: Duncan Verrall via Flickr
An overview of Huddersfield
2. Huddersfield is a large and well-established market town in West Yorkshire with a
history that dates back some 4,000 years. It has a population of around 163,000 and is
situated halfway between Manchester and Leeds with good road and rail connections to
both cities.
Despite being known as a market town, Huddersfield is also home to a wealth of
manufacturing plants. What was once predominantly an area synonymous with woollen
textiles, Huddersfield’s manufacturing is now a far more diverse affair. While there are
still a few textile manufacturers based here, such as Taylor & Lodge and C & J Antich,
other, more industrial, forms of manufacturing have come to the town over recent years.
Tertiary education is catered for by the University of Huddersfield, the town’s largest
single employer and an institution that dates back to 1825 when it was known as the
Huddersfield Science and Mechanics Institute. The university’s chancellor is HRH The
Duke of York and is regarded as one of the best higher education facilities in the
country in terms of environmental performance.
Huddersfield’s local economy
Huddersfield is commonly grouped with the wider area and placed into what is known
as the Leeds City Region. As such, the market town enjoys a relatively high status as
one of the largest economies in the area.
The town has a good mix of big names and smaller, less corporate businesses within its
boundaries and it has enjoyed considerable growth over the last decade, something that
is expected to continue. The area’s overall economy is currently worth somewhere in
the region of £5.75 billion, a figure that is forecast to rise by a further £2 billion (37 per
cent) by 2026.
As mentioned in our overview above, Huddersfield is home to a large number of
manufacturing businesses and is currently recognised as being the third largest
manufacturing employment base in the whole of the country behind Birmingham and
Leeds. Huddersfield’s manufacturing plants employ over 30,300 people, around a sixth
of the town’s workforce. The digital sector is also well represented in Huddersfield with
around 2,300 businesses from the tech and creative realms in the area.
In total, just short of 14,000 employers bring jobs and prosperity to the town and the
area is often cited as being in the top 10 places in the United Kingdom for the number of
residents who are in active employment.
Huddersfield regeneration
Despite already being on an economically sound footing, the local government in
Huddersfield is constantly seeking to improve the area’s fortunes and look ahead to the
future. Twenty-one new sites were proposed by Kirklees Council in September 2015,
across which over 4,000 new homes may be built.
3. The recently approved £180 million development, Grimescar Valley, will bring 190
much-needed new homes to the town and a host of community benefits. Another site
that is currently in development is Lindley Moor. The 7.94-hectare site is situated on the
northwest edge of the town and sits on what was once agricultural land.
This new mixed-use development is set to create 252 new dwellings comprising a
mixture of two, three and four bedroom houses which will be built in terrace, semi and
detached formats. Transport improvements have been promised as part of the site’s
regeneration and there has also been a significant contribution made to help fund the
additional school places that the local area will need once building has been completed.
Then, there is the regeneration of sites such as the historic Newsome Mills that are also
looking to breathe new life into the town. The former industrial giant is a listed building
that is recognised by the Victorian Society and is sure to become a much sought after
address once work has been completed.
Image credit: Tim Green via Flickr
A total of 48 apartments within the mill and 20 houses on grounds to the rear of the
4. existing building have been proposed. This, and other projects springing up across the
town, will undoubtedly bring a higher standard of residential accommodation to the area,
bringing with it further growth and prosperity.
From the commercial sector, there is the redevelopment of one of Huddersfield’s
landmark buildings, St George’s Quarter. The former railway warehouse is now set to
become the town’s most iconic office space after what has been a rocky road after the
global recession of 2007/08. The new development, which will also include a
conference hall and exhibition rooms amongst other facilities, is being eagerly
anticipated by local businesses and the hope is that it will spawn further regeneration of
the area. The centrally located site’s plans also include a brand-new section of the
existing underground walkway that will connect the building to the centre of town.
Another commercial property development of note is Park Valley Mills in Lockwood.
This recently completed 13-acre site is home to 18 brand-new industrial units spanning
6,000 sq ft, all equipped with office and storage space. The demand for such space is
high in the area, and each of the 18 units have already been let. This vote of confidence
in redeveloping old sites into new business areas is sure to attract greater attention from
investors which, in turn, will further bolster Huddersfield’s local economy.
Transport to and from Huddersfield
Huddersfield is an extremely well connected town that is served by both the M1 and
M62 motorways. These two roads give the town access to all four points on the map,
with the M1 running north to south and the M62 providing east to west connections. The
M1 can be joined around 10 miles to the east of town while the M62 is just a short 2.5-
mile drive to the north.
There is also a ring road that surrounds the town, providing traffic relief for the town
centre itself where a lot of the roads are now pedestrianised. The road, part of the A62,
was built in the 1970s and is a well-established route around town, forming the
boundary that defines Huddersfield’s central business district.
The town is also well served by rail. Huddersfield railway station has a number of
regional and national travel options on offer, but it is lacking a direct link to London.
However, passengers are easily able to make a journey to the capital via either Leeds,
Manchester Piccadilly, Mirfield or Wakefield Westgate. Locally, the rail network links
Huddersfield with all of the main northern cities, including Liverpool, Sheffield, Leeds,
Hull, Newcastle upon Tyne, York and Middlesbrough.
5. Image credit: James Cridland via Flickr
Huddersfield bus station is the main hub for the town’s bus service, a very popular way
to get about town. In fact, it has a daily footfall of around 35,000 passengers, making it
the busiest bus terminal in the whole of West Yorkshire. Huddersfield also boasts a
completely free bus service, aptly named the Free Town Bus, which gives locals and
visitors alike a zero-fare way to get around the town centre.
Local life
Huddersfield residents often describe the town as having the best of both worlds
available to them. Situated as it is in the heart of some of the finest countryside that
Britain has to offer, the historic market town gives those who wish to get back to nature
the opportunity to do so. However, for those who like to indulge in all that urban life has
to offer, Huddersfield stacks up pretty well in that regard, too.
As you would expect from a place steeped in 4,000 years’ worth of history, the town
also has a multitude of cultural experiences on offer. The National Coal Mining Museum
is based in between Huddersfield and Wakefield and gives visitors the opportunity to
remember just how important the industry was to Britain’s growth, especially during the
industrial revolution.
If you prefer to keep things above ground, then the West Yorkshire Sculpture Park may
be of more interest to you. Permanent displays from the likes of Barbara Hepworth and
Henry Moore are joined by an ever rotating programme of visiting exhibitions and
displays. Huddersfield’s classic architecture also draws visitors from local cities and
beyond, and Victorian buildings such as the local town hall and train station are spoken
of with great pride and affection by the locals.
6. Image credit: Monica via Flickr
Foodies have a surprising amount of options available to them in town, with a
smorgasbord of cuisines just waiting to be sampled. While there are plenty of chain
restaurants here, there are also a lot of very good independent eateries, too. Thai
Sakon, Eric’s, Parky’s Bistro and Apadana are firm favourites of those in the know.
The Lawrence Batley Theatre provides the people of Huddersfield with live
entertainment, from shows to plays, comedies to concerts, the LBT has a lot going on
throughout the year. For anyone who wants to don their dancing shoes, the town’s two
nightclubs are always ready to welcome you. Tokyo and Camel Club offer different
themes on different nights, so there really is something for everyone here.
Live music is well catered for in Huddersfield as there are several bars and pubs that
also have bands playing in them. The four main places to spot new and established acts
are The Parish, Five Bar, Rhubarb and The Rock Café. Standard bars and pubs are
plentiful too, so visitors and residents are never short of a good night out in
Huddersfield.
Sport also plays a huge part in Huddersfield’s local life, with football and rugby league
being the two main protagonists. Huddersfield was actually the birthplace of rugby
league, and it is home to a number of clubs including the Huddersfield Giants whose
history dates back to 1864. Huddersfield Town F.C. are the main football club for the
town and they have the honour of being known as the very first club to ever win the
7. league championship three times in a row, something that has only ever been done by
four clubs in the history of Association Football.
So, why invest in Huddersfield?
As part of the Leeds City Region, Huddersfield offers investors in all areas of the
property market a unique opportunity to potentially enjoy big city benefits in a medium-
sized market town. The property market in the town has been buoyant for some time,
but there is still plenty of room for investment here.
A lot of people are now looking to Huddersfield as an easy commuting town for the
bigger cities that surround it. Leeds and its huge financial district are under 20 minutes
away by train; Manchester is just 35 minutes away; and Liverpool and Sheffield can be
reached in a little over an hour. This connectivity is bringing people into the town and,
with all of the local regeneration happening, more and more businesses are starting to
see the potential that Huddersfield has as well.
Image credit: Neil Turner via Flickr
Huddersfield is a town that is attracting interest not only from domestic investors, but
also from overseas. We believe that this part of West Yorkshire is in good shape, and
the current move towards further regeneration of the area can only mean that the town
is heading in the right direction.
8. Want to know more? You might find The Advantages to Buying Off-Plan
Investments and A Guide to Buy-To-Let Investments interesting.
Contact us for advice, help or to start your property investment journey.