A history dating back two millennia, predating the arrival of the Romans; Leicester is one of England’s oldest cities.
However, despite its rich history, Leicester has often been overshadowed by its larger neighbour, Birmingham. But now, the powerful East Midlands region has risen to become a provincial hub rivalling the likes of England’s most popular cities.
Leicester is commonly aligned with heavy machinery, given its prominent role in the industrial revolution and its continuing ties to engineering and production. Earlier this year, Tech City reported that the city exhibited nearly 30% growth in digital employment, drawing in young science, technology, engineering and mathematics (STEM) talent. Leicester has undergone a significant regeneration, the city is now awash with high-end restaurants and bars, providing Leicester with a vibrant, buzzing ‘café culture’.
Leicester’s regeneration has been driven by a number of local projects that will enhance the city for residents and tourists alike, including the multimillion pound redesign of Leicester University’s campus and the creation of a new public square around the Old Water Tower. Local infrastructure is also receiving a considerable overhaul as Leicester City Council pushes forward with Connecting Leicester, a scheme to improve transport within the city.
Despite its industrial heritage, Leicester’s long list of employers is by no means confined to any single profession. Top local employers known to lure young professionals away from the capital span a range of sectors, including Santander, Next, British Gas, BT, KPMG, DHL and IBM. This has fueled Leicestershire to be named the East Midlands strongest local economy. Moreover, surveys from the Financial Times suggest the East Midlands has the second fastest rate of growth in England and Wales.
Not one for resting on its laurels, Leicester is now looking towards the future and expanding its links to the ever-important tech sector. A new digital media centre will provide ‘incubator’ space for innovative start-ups, and the £75 million National Space Park, due for launch in 2019, will create a global community centred around space and space-enabled technologies.
Forty/8 previously worked in Leicester on our Chatham Street scheme, Arcus and the Bar. The development proved such a success that this September we re-enter Leicester’s property market with our latest offering, Aria. Due for completion in early 2018, the collection of 93 studio, one and two-bedroom apartments reflect Leicester’s growing young professional demographic.
The East Midlands has been grabbing property headlines for some time as the area has enjoyed steady yields and strong capital growth – Leicester has been at the forefront of this growth. A recent Hometrack survey reported house prices in the city have soared an impressive 5.8% over the past year – even more remarkable when measured against London’s flatlining 2.8% growth. This makes Aria’s contemporary high specification apartments a perfect choice for savvy first time buyers, or investors looking for a staggering buy to let yield of up to 8.5%. Aria is in the heart of Leicester’s vibrant city centre, and provides an outstanding and immediate opportunity for investors looking for steady yields and capital appreciation.
For more information on Aria Leicester, please leave us a message online or call our sales team on 0116 255 9733.