Property investment in Blackpool
Property investment in Blackpool
Blackpool is known for its stunning landmarks, including the beautiful promenade, its Victorian Piers, and of course, the world renown Blackpool Tower. With millions of visitors coming to Blackpool each year, the town has become one of the most popular seaside destinations in the UK. Thanks to its success as an attractive destination, property investment in Blackpool has become increasingly popular in recent years. Furthermore, plans for important redevelopments that will boost the town’s economy and infrastructure are already underway.
£300 million leisure development set for Blackpool
One of the biggest property investment opportunities in Blackpool’s history.
Without doubt, the £300 million Blackpool Central development will be hugely beneficial to the growth of the town. Most significantly, it will bring world-class visitor attractions to a landmark site on the famous Golden Mile. The plan will see a range of indoor attractions being built in particular, including:
- The UK’s first flying theatre
- The world’s first multimedia exhibition of its kind
- The most advanced virtual reality experience on an epic scale
Furthermore, the development will include new hotels, restaurants, food market, event square, residential apartments and multi-storey parking. It is overall estimated that the development will attract 600,000 additional visitors a year with a combined annual spend of £75m. More than just that, it’s set to create 1,000 new jobs for Blackpool locals.
Talbot Gateway Regeneration Scheme
Conway Park Commercial Quarter
Creating more ways for visitors to enjoy Blackpool.
With property investment in Blackpool aiming to attract tourists, the town needs more space and updated transport links to accommodate their needs. With this purpose in mind a new Holiday Inn Hotel, tramway link and underpass leading to the station are already in the works.
Alongside Blackpool Council and Muse developments, Robertson Construction, the main contractor, started demolition of the Wilko building and connected car park in September 2020. Following this, work on the project will take around 2 years to complete.
The Talbot Gateway Regeneration Scheme will be complete in two phases:
- Phase 1 – Demolition of the existing building (Demolition will be complete by approximately January 2021)
- Phase 2 – Construction and completion of the new hotel, incorporation of the Blackpool tramway to link into Blackpool North train station, construction of a new under- pass and external works around the new hotel site
Timeline of Talbot Gateway Regeneration:
- Q3 to Q4 2020 – Inspection and demolition of Wilko building, Talbot Road
- Q4 2020 to Q2 2021 – Construction of the high street underpass
- Q1 2021 to Q3 2022 – Construction of the Holiday Inn Hotel
- Q2 to Q3 2021 – Tram extension and track completion
Modern streets for key roads in Blackpool
Moreover, ongoing works include a total of £400,000 public and private investment in the historic IBIS Styles Hotel on Talbot Road. Work on the landmark building is due to be completed in 2021.
Some of Blackpool’s key roads are due to receive a facelift to make streets more welcoming and shops more vibrant. To begin with, the £7.84m project made upgrade works to Church Street in January 2017.
The £5.5m highway works include new features such as:
- Resurfaced footpaths and roads with better quality materials
- New trees
- Bins and street furniture
- Better paving at crossings with technology and sensors to help blind and partially sighted people
- New public art
Together with properties on Topping Street, Church Street, Talbot Road, Cedar Square, Deansgate and Edward Street, more than 20 properties have already been supported through a £2.3m Property Improvement Scheme. Overall, this will help business owners improve the external appearance of their properties, in turn revitalising their kerb side appeal.
New streets for Blackpool
New hotels in Blackpool
Another area of development in the works, is the hotel sector in Blackpool. Wit the aim of attracting new businesses and creating opportunities, several hotels will be developed in the town, including:
- Blackpool’s first 5-star accommodation, the Sands Venue, located on the Promenade
- A new 150 room Premier Inn on Talbot Square
- A four-star Holiday Inn Hotel in the Talbot Gateway area expected to be built between October 2020 and April 2022
Improved public transport and travel
To begin with, a plan to extend Blackpool’s tramway to connect Blackpool North station to the other side of town, via the Promenade is in the works. The project has an estimated value of £22M and will also include:
- A new terminal
- 4-star Holiday Inn Hotel
- Office and retail units to let
Moreover, the addition of new services will increase their capacity and frequency to and from North Station. This will be especially beneficial in the busy seafront area of the tramway network.
Externally funded by the Lancashire Growth Deal, the project is a vital part of making Blackpool better. Furthermore, improving transportation links will drive people from the area to travel to Blackpool for work and boost the town’s economy.
Blackpool Airport Enterprise Zone
Squires Gate, Blackpool Business Park and Blackpool Airport are all a part of the Blackpool Airport Enterprise Zone. All in all, the zone aims to attract more than 180 new businesses, help create up to 5000 new jobs, and secure over £300m private sector investment. Since April 2016, it has attracted 91 new companies and created more than 1450 new jobs for the Blackpool area.
Improving Schools And Education
Recently, the UK’s Department for Education has funded 12 areas to take part in its opportunity area programme. In order to achieve the programme’s goals, the Blackpool area is working in partnership with local schools, businesses, charities and partner organisations to overcome the barriers that hold children and young people back.
To this end, the programme aims to support children and young people in Blackpool in achieving their goals and ambitions.