Reasons to Invest in South LanarkshireSouth Lanarkshire incorporates an abundance of towns and villages within its authority. This mix appeals to a variety of residents, allowing them to embrace a tranquil combination of enjoying both urban life and rural life. Many of Scotland’s popular towns are part of the South Lanarkshire family, from East Kilbride to Hamilton.
The authority of South Lanarkshire is still one that is relatively new. Previously, towns within South Lanarkshire were known for their industrial contributions, however, moving forward with the times, these towns are now focussed on commercial industries. Through being a hub for commercial and administrative business and bordering Glasgow, this authority has attracted a population of 319,020 people as of 2020.
Throughout our experience we have found there are many great reasons to invest in South Lanarkshire, some of which are outlined within this article.
HousingPlans to invest in South Lanarkshire by increasing council housing have been set in motion, with South Lanarkshire council aiming to build 504 new houses within the authority throughout 2021. These plans also hold the objective of improving the quality of existing council houses throughout South Lanarkshire, this will ultimately improve the appeal of South Lanarkshire as a place to reside.
Within these plans, South Lanarkshire Council has also discussed raising rent prices on council houses by 2.2 percent. This decision was made with residents within the local authority claiming they believed their housing against rental costs were good value for their money.
Believe it or not, additional housing and increased rental charges can be viewed as good news for investors looking to invest in South Lanarkshire residential property. Investment by South Lanarkshire Council into new housing projects shows that there is a demand for housing within the area, meaning there is opportunity for investors.
EducationSouth Lanarkshire is currently home to multiple, modern, educational institutes - Scotland’s highest-ranked young university, UWS South Lanarkshire, located in Hamilton and South Lanarkshire college, located in East Kilbride. These educational institutes attract an incredibly diverse student population to their respective towns, which is greatly beneficial for any area.
UWS and South Lanarkshire College widen the reach and the appeal of their towns and ultimately, have the potential to strengthen their already existing workforce.
Towns with a student population are a fantastic opportunity for residential property investors as their market increases, widening the options of their investment strategies.
TransportIncorporating many towns and villages has encouraged strong transport connections throughout South Lanarkshire, ensuring it is connected with Scotland’s largest city - Glasgow.
Strong transport links are a vitally important factor for many investors as poor transport connections can fairly limit their appeal and reduce their market. Great transport links make the lives of tenants easier and often contribute favourably to the attraction of a property.
Potential tenants can often be found to look for properties which have strong transport links as this widens their horizons and allows them to become connected. These links can also be beneficial to their daily lives regarding travelling to work etc.
This demonstrates that an investor should place transport links within an area highly on their list of factors which contribute to their investment decisions as this could secure the rental of a tenant.
ShoppingSouth Lanarkshire also has the benefit of having Scotland’s biggest undercover shopping centre- East Kilbride Shopping Centre. This shopping centre is blessed with 108 stores for its visitors to enjoy.
This shopping hub is an additional benefit to investors as it will increase the footfall into the town, consequently, this has the opportunity to lead to new residents.
Another key benefit of this shopping centre is the job opportunities it provides. 108 stores requires a lot of employees and those employees need housing, highlighting the demand for properties again, creating further opportunities for investors.
ConclusionOverall, South Lanarkshire provides ample opportunity for investors looking to invest in the West of Scotland.
By encompassing multiple towns and villages, South Lanarkshire has an incredibly diverse community, attracting a population of over 300,000 people. This in itself creates investment opportunities for residential property investors.
South Lanarkshire Council have begun plans to invest in the housing of its local authority by building new housing and improving its existing houses. This demonstrates a demand for housing within the area, which proposes key opportunities for investors.
Investors can also benefit from the advantages that come from investing in areas which hold a large student population, and South Lanarkshire are lucky enough to have a couple of those. This population will increase an investor's investment strategy options greatly.
South Lanarkshire is an area which is also blessed with good transport links, taking residents to and from Glasgow and other destinations with ease. An important factor for investors to pay attention to.
It’s not all work and no play in South Lanarkshire. Being the home of East Kilbride Shopping Centre means there are plenty of leisure facilities for the residents of South Lanarkshire and beyond.
Disclaimer: This is information based on our knowledge gained throughout years of experience, education and learnings. This information is open to interpretation and is in no way an advertisement for South Lanarkshire, therefore, you must carry out your own due diligence regarding the subject.