1 bed Flat For Sale, Snig Hill, Sheffield S3

Description

Location

Less than a mile from Sheffield's lively city centre, and next to the vibrant Kelham Island, this location is unrivalled and will offer tenants a high-end lifestyle near the banks of the River Don.

Mixed tenant demographic

Sheffield is home to two major universities and at any one time there are 52,000 students here, including over 12,000 international students from over 170 countries. Both the professional sector and the student market remain incredibly buoyant, thus resulting in huge demand for high quality accommodation. The fact that Great Central is within close proximity to both universities means it's an ideal development for a lot of the international students, mature students and then due to the good transport links, the proximity to some major employers it's going to be extremely appealing for professionals who are looking for a higher quality of living.

Kelham island

The development is in a fantastic location next to Kelham Island - the remains of the old factories and workshops have given the area a lot of character and charm, gone is the beating heart of manufacturing replaced with trendy art galleries and microbreweries, as well as lots of charming independent bars and restaurants, this is the place to live. Beyond this it is incredibly close to the universities and also the region's top employers for example it's walking distance from hsbc headquarters and Lloyds Banking group, it's a short drive to McLaren ctc a £50m purpose built complex, Rolls Royce is a 10 min drive, Boeing is an 8 minute drive.

Why invest in sheffield?

one of the fastest growing cities

Well, for starters Sheffield is one of the fastest-growing cities in the UK, it's in a similar position to where Leeds was 5 years ago, making it a prime opportunity to enjoy high tenant demand and exponential growth over the short and long term. Unbeknown to many Sheffield has one of the largest economies in the North of England worth £14.6 billion annually – an increase of 81.85% is predicted over the next 10 years, with the economy expected to rise to £26.59 billion. It's also worth touching on the fact Sheffield had the highest number of new companies formed in 2020, which stands at 4,228 almost double the next closest which was Doncaster. This is an extremely strong indicator and something we look at before taking on projects in any city.

Population

Another major point to consider is the population size of Sheffield at 586,730, this is already putting major pressure on the housing stock in the city, and this is expected to rise by another 50,000 towards the end of the decade. This is important as there is not anywhere near that level of construction in the pipeline and as mentioned there is already a lack of supply, which is further restricted by the cladding crisis. To give you a bit more context, only 11,439 units were added to the housing stock between 2012 and 2020, and there are only plans for 2,923 a year up to the end of the decade which will leave an expected shortage of around 15,000. Many people are not aware of this but i'm sure you will agree it's very compelling.

Capital growth

Given the lack of supply in Sheffield, which is a bigger issue than a lot of people realise there is clear scope for capital growth. The prediction over the next 5 years is around 15% which is probably slightly below what it actually will be. You are likely to see this forecast to be adjusted at the end of this year, getting something secure in Sheffield before then would be well advised. There will be that immediate rush when people start to cotton on to the strong case for Sheffield, most talk about Leeds, Manchester and Liverpool. There is a case to be made that would put Sheffield just below Leeds in terms of capital growth.

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1 bed Flat For Sale £140,000 Snig Hill, Sheffield S3

1 bed Flat For Sale £140,000
Snig Hill, Sheffield S3