5 Compelling Reasons to Invest in Blackpool – A Golden Opportunity for Commercial Property Investors
Photo by Mark mc neill on Unsplash
With Strictly Come Dancing returning to our TV screens and soon to Blackpool, now seems as good a time as any to take a look at the iconic Lancashire seaside town. We consider five compelling reasons why you should consider investing in Blackpool’s commercial property market.
Regeneration and Infrastructure Development:
Blackpool has been undergoing a significant transformation through ongoing regeneration projects. The town is investing heavily in improving its infrastructure, including transportation links, public spaces, and amenities. These developments are designed to enhance the town’s appeal, making it more accessible and appealing to both tourists and businesses. As an investor, you can take advantage of this rejuvenation by securing commercial properties in prime locations that stand to benefit from the town’s growth.
Tourism and Hospitality Industry
Blackpool has long been a popular tourist destination, drawing visitors from all over the UK and beyond. Its iconic attractions, including the Blackpool Tower, Pleasure Beach, and the Illuminations, continue to attract millions of tourists every year. In 2021, the latest statistics since the pandemic, Blackpool attracted 19 million visitors. This steady stream of visitors creates a robust demand for commercial properties, such as hotels, restaurants, and entertainment venues.
North West Economic Opportunities:
Blackpool benefits from its proximity to major cities like Manchester and Liverpool, making it an ideal location for businesses looking to expand or establish a presence in the northwest.
Competitive Property Prices:
Compared to larger cities in the UK, Blackpool offers more affordable commercial property prices. For example, retail rents are seen as cheapest here. This affordability makes it an attractive option for investors looking to enter the market or expand their existing portfolios. Lower property acquisition costs mean you can potentially achieve a quicker return on your investment, and the potential for property value appreciation over time adds to the appeal of investing in Blackpool.
Cultural Revival:
Blackpool is experiencing a cultural revival, with an increasing number of events, festivals, and arts initiatives taking place. For instance this October the town’s highly-acclaimed international festival of light and art is returning. The Grand Theatre and Winter Gardens are just a couple of venues that host a diverse range of performances and exhibitions throughout the year. This cultural resurgence can drive foot traffic and demand for commercial spaces, especially those situated in the heart of Blackpool’s cultural hub.
Whether you’re interested in the tourism and hospitality sector, or just looking for affordable investment options, Blackpool has something to offer. By considering these five compelling reasons, you can make an informed decision and potentially secure a profitable investment in this iconic seaside town.
