Stevenage is a borough in Hertfordshire, England, with a strong economy and proximity to London (precisely 44 km). The first town to be designated New Town under the UK’s New Towns Act, Stevenage is a great place for property investment, and this article was created to explain to you the reasons why.
First of all, we will elucidate the town’s key features, which are directly or indirectly related to property investing. In the Market section, we will explain why these features are very likely to influence the success of your investment in Stevenage. Later on, we’ll describe the town’s current developments and council plans, which will provide you with a bigger picture and a clear view of how property investment works in the long term.
Here’s what we’ve covered:
Stevenage Key Features
- Old and historic town centre and market
- Extensive retail facilities – Roaring Meg Shopping Centre and Stevenage Leisure Park
- Great link to London and other towns – Stevenage is served by the A1(M) motorway, several roads, such as the Great North Road, and the Stevenage railway station
- Short car distance to the University of Hertfordshire – Mainly based in Hatfield
- Lister Hospital
- Lamex Stadium or Broadhall Way – A football stadium with capacity for almost 8,000 people
- 50,000 employed local people across Stevenage
- Home of innovation – Businesses of all sizes are encouraged to grow in Stevenage.
- World-renowned employees – MBDA, Airbus, GSK, among others.
Stevenage property market is ample and promising because of the town’s constant development and attractions. Currently, there are over 3,000 employers in varied industries, that attract many professionals to Stevenage. Contractors are a large group of town’s visitors, as well as professionals from other sectors looking for an apprenticeship, graduate jobs, or full-time work.
One example is the huge defence company ranked in the 2019 Sunday Times Best Companies to Work for, MBDA. It has been located in Stevenage for over 60 years, providing numerous job opportunities for people worldwide. GSK, on the other hand, is a leading pharmaceutical and healthcare company and the town’s largest employer. Another massive corporation located in Stevenage is Airbus, the second world’s largest defence and aerospace business.
The town’s council is also investing a lot on the economy. In 2018, for example, they had invested £650m in Stevenage Bioscience Catalyst, which provides support for medical, biotech, and pharmaceutical companies to grow and network. Because of that, there are not only contractors working on-site, but also many visiting guests within the biotech industry.
Although we have only discussed corporate employees and contractors as possible guests for your real estate investment, there are also plenty touristic attractions which will lure leisure guests, such as the historic town centre, Lamex Stadium, and leisure facilities. For that reason, Stevenage has the ideal market for any real estate investment, especially if you want to start an HMO or SA business.
What is happening now?
The council plans until 2023 consist of investing £12m on several types of improvements in play areas and public spaces. The council calls this strategy the “Our neighbourhood project”. It plans to work with community members and corporations to improve the town.
Also, the hospital is facing constant development to help more people effectively, and there is currently a £50m investment in leisure, social and lifestyle activities.
Stevenage is a good place for entrepreneurs, especially in the biotech and pharmaceutical fields. As we mentioned, Stevenage is home to over 3000 companies, and all offer jobs and training opportunities for town residents and people throughout Europe.
The town has a history of innovation (GSK, for instance, are the creators of first gene therapy and pioneers of the first malaria vaccine). Because of that, advancement and progression keep being encouraged in businesses of all sizes.
Council plans for the future
Stevenage’s council has big plans for the future, which are very likely to help you own property business grow and stay steady for the long term.
The town centre is historical, so the council believes it is time for rejuvenation. Because of that, they are planning to work along their development partners to deliver a £1 billion major regeneration programme in 20 years. The aim is to transform the town and emphasise its history and beauty.
Already signed is the £50m plan to redevelop Queensway North, the site of the former Marks & Spencer, and nearby locations. Another project is the delivering of the SG1 scheme. This is a series of units that will bring new retail, residential, and leisure opportunities. This investment is worth £350m, and will also include a combined public services hub. With the beginning of all these developments, Stevenage is likely to have 1,100 more homes by 2021.
If you’d like to know more about council and its plans, visit this page.
Property Investment In Stevenage
With all that in mind, Stevenage remains an excellent place for property investment and will be even more shortly. With all developments, many contractors are likely to visit the town and look for short or even long-term stay options.
If you are interested, we suggest choosing between SA and HMO. SA is likely to attract contractors staying short-term, tourists, and all specialists from other industries, which are being continuously hired by big and medium companies. HMOs, on the other hand, are excellent options for many audiences, especially groups of seasonal workers staying for more extended periods (which is very likely to happen with the 20-year development project).
If you still have any doubts about whether to pursue property investment in Stevenage or not, let us know. We are experts in property investment in the UK, specifically in towns such as Stevenage, Luton, Milton Keynes, and more.