It’s got to be Gateshead – why the spotlight is turning onto this regional town
- Gateshead home to second fastest growing economy in North East (Invest Gateshead)
- Apartment prices up 19.4% in 5 years (Zoopla)
- New Hopper Street accommodation presents future-facing investment opportunity (Surrenden Invest)
Gateshead and Newcastle upon Tyne are known mainly for the Angel of the North and the stunningly contemporary Millennium Bridge. The town of Gateshead has at times seemed to exist in the shadow of the much larger metropolis that faces it across the River Tyne: Newcastle. However, the spotlight has now turned firmly onto Gateshead itself, with everyone from robotics manufacturers to property investors rushing to be a part of the town’s future.
“Gateshead is one of those regional towns that has suddenly burst into the spotlight thanks to a combination of factors. A higher than average economic activity rate, rising property prices and significant local investment mean that Gateshead is becoming something of a favourite with businesses and investors alike.”
Jonathan Stephens, Managing Director, Surrenden Invest
Gateshead enjoys a higher economically active rate than the North East region as a whole, at 77.3% and 75.2% respectively, and is the second fastest growing economy in the North East, according to Invest Gateshead. The town has a growing reputation for innovation and industry, backed by a sound infrastructure. Gateshead residents enjoy 91% superfast broadband availability, compared with a national average of 89%.
In recent months, this has attracted robot manufacturer Comau UK (creating up to 60 highly skilled jobs), while Blue Kangaroo (the branding agency behind Peppa Pig and Doctor Who) has expanded its Gateshead base. Northern Gas and Power also announced plans to create up to 500 jobs in Gateshead earlier this year. As a backdrop to all this activity, the Gateshead Economic Growth Acceleration Plan 2015-2020 is supporting the creation of 4,000 jobs, while Gateshead Invest projects that more than 9,000 jobs will be created by 2030. Furthermore, the town enjoys the lowest staff attrition rates in the UK – across all sectors!
With strong local employment prospects, good schools and affordable homes, Gateshead has quietly moved up to offer the joint highest life satisfaction rating in Tyne and Wear (along with Sunderland). Property prices there have risen steadily over the past five years, with Zoopla reporting that values have increased by 16.04%. For apartments, that figure rises to 19.41%. Meanwhile, house prices are some 46% lower than the national average, according to Invest Gateshead, providing investors with an excellent entry point into the market.
“When we were undertaking due diligence on regional UK towns that offer solid investment prospects, Gateshead kept cropping up. It’s a surprisingly innovative and forward-looking location, which is why we felt it was ideally suited to the future-facing homes on offer at Hopper Street.”
Jonathan Stephens, Managing Director, Surrenden Invest
Hopper Street is a collection of 81 stylish apartments designed with students and young, professional urban tenants in mind. Residents benefit from an on-site sauna and gym, as well as bicycle parking, terraces and a superb, central location. They can also enjoy the hassle-free approach of having all of their bills (heating, water, electricity, internet, etc.) included as part of the rental package. Unusually for a student development, mortgages are available to those looking to invest in Hopper Street, making this a particularly exciting prospect.
Gateshead’s student population has increased in recent years. Gateshead College was crowned the top performing further education college in the whole North East of England and the third best in the country back in 2015, which has had a notable impact on the number of students wanting to study there. Student developments such as Hopper Street are not only well positioned to serve these young people, but also those studying at Newcastle University, which lies just over the bridge from Gateshead.
Student numbers at Newcastle University have shot up by more than 70% since 2000, going from just 12,302 students in 2000/01 to more than 21,000 today. Nearby Northumbria University has also seen student numbers rocket – by more than 114% since 2000 to a current student body of more than 27,800 fulltime students. The rapidly growing student populations have created strong local demand for high quality student accommodation.
Alongside property investors, Gateshead Council is also pouring money into the town’s future, with £54 million worth of funding allocated as part of its 2015-16 investment programme. Whichever way you look at it, Gateshead is a town that has been thrown firmly into the spotlight – and is thriving under this new scrutiny.
For further details and property investment opportunities, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.