Article Summary

A major UK logistics hub in Leeds has created thousands of jobs, boosting the local economy and having a positive impact on investment properties in the area – and it isn’t even finished yet!

The award-winning Logic Leeds hub by Muse developments is nearing completion. The project to regenerate this logistics hub, which is situated close to Junction 45 of the M1, has already attracted huge global enterprises as well as thousands of employment opportunities.

A northshoring magnet

Since the regeneration work started in 2016, Logic Leeds has brought business giants to the region. Companies such as Amazon, John Lewis and Premier Farnell all occupy part of the 110-acre site.

Leeds is already one of the top locations for organisations deciding to ‘northshore’, which is when firms set up premises in the north of England. The companies now making their own Leeds investment and opening operations in the region are following in the footsteps as well-known names such as Sky, HMRC and Channel 4, all of whom have headquarters in Leeds.

Boosting rental returns

But what does this mean to people with investment property in Leeds? Recent findings have shown that businesses moving to Leeds has boosted the profitability of Leeds investment properties. The study by CIA Landlord explains that rising rental demand is being driven by people moving to the area to take advantage of the growing employment opportunities and a cheaper cost of living.

Not only that, but with students now returning to Leeds following the coronavirus pandemic, rental demand is higher than ever. In fact, Leeds is experiencing the biggest gap between housing supply and demand in almost a decade.

This increased demand from all kinds of tenant demographics is in turn creating upward pressure on rents – and better profits from Leeds investment properties.

Regional benefits

Buy-to-let landlords in the wider Leeds region are also likely to benefit from Logic Leeds. Its success has enabled Muse Developments to receive planning permission to transform Bradford city centre’s former police headquarters into a new office building named One City Park.

Matt Crompton, Managing Director at Muse Developments said: “Our key focus continues to be working with our partners to repurpose under-utilised urban areas to create sustainable, diverse and vibrant places driving economic growth, investment and opportunities for local communities.”

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

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Take advantage of the thriving Leeds economy by making a Leeds investment into a buy to let property. To find out more about investment properties in Leeds or anywhere else, get in touch with North Property Group today.