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Development and property investment go hand in hand at the seaside

5th June 2007 | back to article listings BACK    print this article PRINT

Investors in property in Britain can benefit from the apparent symbiosis between the property market and the redevelopment of seaside towns in Britain, according to Propertyfinder.com.

Nick Leeming, co-founder of the company, said the booming market meant people were prepared to pay good prices for holiday area property in places such as Rock and Padstow in Cornwall or the Isle of Wight, but could do so knowing that it was a good buy-to-let prospect.

While stating that seaside towns were "hugely variable", he said a key feature of the growth in seaside property was its capacity to regenerate. "Property markets in general have been hugely buoyant over the past few years and that's obviously led to the encouragement of redevelopment of sites that previously would not have been economically viable," Mr Leeming notes.

Such a development, of course, can be enormously beneficial for a town with tourist potential. With redevelopment can come the facilities that can boost the tourist economy, which in turn can encourage more holidaymakers, thus creating a virtuous cycle. Mr Leeming stated that this is often money that would "not otherwise have supported some of the infrastructure and population there". In short, buy-to-let can bring great benefits to rural economies, not least those whose traditional income sources have declined.

Of course, the theory may not apply to some places because they are already established tourist hotspots. Mr Leeming cited Brighton as one such resort. Recently shown to be the most expensive property location in Britain per square foot, the Sussex resort is enjoying huge popularity.

However, he stated, this is no new phenomenon: "Brighton and Hove have always commanded quite a premium. You only have to look at the Regency style of architecture and the general ambience there and you can see it's a higher value type of area." He added that with the popularity the city enjoys from Londoners investors can sometimes pay millions of pounds for a property.

For those looking for cheaper investments, there are of course other coastal locations. For instance, new research by Accomodationforstudents.com has shown that Aberystwyth is the most popular student town in the country. The news may well boost the university there, with more students moving in. If so, this will in turn provide new opportunities for the buy-to-let industry. One obvious advantage here is that Aberystwyth is also a seaside resort, so the same rooms could be let out to tourists during the summer.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/3534.html. Alternatively, please see our full press release archive.

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