WHY INVEST IN SHEFFIELD?

Sheffield, one of the UK’s fastest-growing and most exciting cities with an ever-growing need for private rental property.

The city is comparable to how Manchester was a few years back and has some amazing new investments, projects and figures to make this one of the investment hotspots in the UK.

More than £2.5BN is being invested in Sheffield over the next decade to continue the development of the city centre. A city which is already extraordinarily popular with businesses and young people will only continue to grow and become more vibrant.

It’s Advanced Manufacturing Park alone is home to more than 40 World Class Companies and the city is also home to household names such as Mclaren Automotive and Boeing UK.

Sheffield’s population is predicted to grow by almost 15% by 2035 and a link to HS2 has been proposed.

This growth in the city is expected to increase rents up to 22% over the next 5 years and to date, house prices have increased by nearly 30% in the last 5 years.

Invest Leeds see Sheffield as one the UK’s biggest investment hotspots and we have some exciting investment opportunities coming up.

Keep an eye out! Below is some more background and detail on this wonderful city and its investment potential.

Thanks for reading.

Jo Fox, Founder Invest Leeds.

St. Pauls Place

Sheffield, Facts, Stats and Interesting Things!

  • The UK’s most centrally located city region – at the hub of key road and rail networks.
  • 2.1 million people live within a 60-minute commute of the region making it England’s third-largest metropolitan region.
  • The population of the city itself is expected to increase by more than 75,000 in the next 25 years, an increase of almost 15%
  • Core sector strengths include advanced manufacturing, creative and digital industries, business services, logistics, low-carbon industries and healthcare technologies – much like Manchester
  • Home to world-leading manufacturing and engineering companies, including Boeing, Rolls-Royce, Tata Steel, Siemens VAI, Koyo Bearings, Bridon International, Pegler Group and Outokumpu.
  • Home to the strategic operations of major organisations such as HSBC, B Braun, Aviva, DLA, Polestar, Sandvik, IKEA, Amazon and ASOS.
  • Proximity to major UK business centres in Manchester, Leeds, Birmingham – and only two hours by train from London.
  • Britain’s most concentrated and popular higher education destination outside London, with 12 universities less than an hour away providing more than 313,000 students and 92,000 graduates per year.
  • Hosts engineering, technology and materials research centres of excellence at the University of Sheffield and Sheffield Hallam University.
  • Sheffield is the only UK city to have a national park within its boundary – and is home to the UK’s largest theatre complex outside London.
  • Highest ratio of trees to people of any city in Europe!
Sheffield City Tram

Chinese Investment

Last year the Chinese announced a £1bn investment into Sheffield which aimed to “change the face of the city”.

This is a 60-year commitment which is set to create “hundreds if not thousands of jobs” over that timeframe. An initial £220m will pay for four or five city-centre projects in the next few years and the work will go on from there.

The deal is between Sheffield City Council and Sichuan Guodong Construction Group, one of China’s largest developers.

They were drawn to Sheffield because of the strong university links the city has with China and the outstanding future potential. Sheffield steel and manufacturing is well known to the Chinese.

*Source Guardian

HS2 – Sheffield is a major stop on the HS2 route which will now run into the city centre on the way to Leeds. This will reduce journey times, encourage business and help drive growth.

*Source Star

Devolution – The devolution deal for Sheffield City Region has provided £1.3bn to be spent over the next 30 years on infrastructure, housing, transport, skills and other drivers of business growth.

Another aim of the deal is to create 70,000 jobs over the next decade.

*Source Sheffield-Devolution.org

Sheffield City

Advanced Manufacturing Innovation District – Sheffield knows itself as the city of makers and is reinventing its industries for the 21st century.

This new advanced manufacturing park is their equivalent of MediaCityUK and has similarly massive global tenants such as Rolls Royce, Boeing, McLaren, Toshiba, Tata Steel and Sheffield Forgemasters (see big companies section below for more info on some of the recent investments made by these companies). This Innovation District was built in partnership with the city’s two universities and is home to world-leading research and manufacturing in areas as diverse as aerospace, defence, transportation, nuclear, oil, gas and healthcare.

This district is based around the 200 acre Sheffield business park which has been seeing big investment over the last ten years and is a major driver of growth across the region and the North as a whole.

Enterprise zone – Sheffield has an enterprise zone on the M1 corridor which offers business rates relief, simplified planning conditions and a range of financial and infrastructure support from the council.

*Source – Welcome to Sheffield

Sheffield Retail Quarter – This is a world-class quarter being built in the city centre which will open up a huge amount of space for business. Construction is due to start soon and is set to be completed in 2019.

*Source – Sheffield Retail Quarter

Olympic Legacy Park – This is part of the Innovation District and will be home to internationally recognised research in health and education. When finished, it will provide a place for approximately 3,000 people to work, learn and research. This is being done by a partnership between the universities, the NHS and the City Council.

This is a £55m investment which covers 35 acres and is set to be finished in 2017. It took its inspiration from the Advanced Manufacturing District, much like how lots of things in Manchester have taken inspiration from MediaCityUK

*Source Olympic Legacy Park

Big companies which have invested in Sheffield recently

McLaren Automotive – McLaren has invested £100m into Composites Technology Centre, reshoring jobs in the UK in partnership with the universities which will create 200 jobs. Building their supercar chassis here. Part of the previously mentioned Advanced Manufacturing Innovation District.

*Source – SheffieldACUK

Boeing – Sheffield has been chosen as the site of Boeing’s first factory in Britain and will be investing £20m in a 25,000 sqft factory in the Advanced Manufacturing Innovation District. Parts for 737s and 777s will be made there when it opens in 2018. Boeing currently employs more than 2,300 staff in the UK so expansion of their manufacturing arm is likely and Sheffield will continue to benefit.

*Source – Telegraph

Sky Betting and Gaming – Recently pledged a further £3.5m investment in Sheffield which will create 160 jobs. Sky has extended its Sheffield premises three times since their office in Sheffield first opened which goes to show how good the city is for businesses

*Source – Insider Media

Jaywing – Jaywing is an international media company which is headquartered in Sheffield. A new HQ was built and opened this year called Albert Works which has kickstarted a wave of regeneration in the local area.

*Source – Insider Media

HSBC – HSBC has invested millions into Sheffield’s New Retail Quarter and is the anchor tenant for the scheme. The 15-year lease on a 140,000 sqft office indicates the confidence which the bank has in the city.

*Source – Welcome to Sheffield

Sheffield Forgemasters – This is a 177-year-old family-owned company which helped make Sheffield Steel famous around the world. They still have a big presence in the city and have recently made a £6.5m investment in a new precision machining centre in the city. As cheap steel from China and elsewhere gets dumped and pushes prices down, places like Forgemasters which do precision engineering are the only sort of heavy industry which will survive in this country. It is the type of business which is part of the fabric of the city.

*Source – Insider Media & the FT

Property in Sheffield

The average increase of property in Sheffield is 4% a year, confirmed by Rightmove.

Sheffield is one of the UK’s top ten most affordable cities to live in and is therefore extremely attractive to tenants looking to move away from more expensive cities like London, Manchester and Leeds.

*Source Estate Agent Today

Sheffield City Council has been applauded for its innovative approach towards building. The Sheffield Housing Company – a public and private collaboration – is building a lot of houses in areas which were previously run down which is helping to regenerate the city as a whole.

*Source The Guardian & Sheffield Housing Company

Invest Leeds see Sheffield as one the UK’s biggest investment hotspots and we have some exciting investment opportunities coming up.

Sheffield Apartment Development

If you need any further information about Sheffield or investing in property please do not hesitate to get in touch.
https://www.investleeds.co.uk/contactus/

Thanks for reading.

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