With its spectacular coastline, expansive countryside, characterful towns and picture postcard villages, it’s no surprise that Norfolk is a popular place to purchase property. From buyers looking to relocate to the county to investors who want to put their hard-earned cash somewhere safe, more and more people are putting their money in Norfolk.
As a result, the number of developments and redevelopments in the county is on the up. From large scale projects to small, exclusive builds, Norfolk is attracting investment on all levels. In fact, 2016 has already been one of the busiest ever years for the county’s property market, with a number of high profile deals already in the bag.
Norfolk Retail Park
One of the biggest property deals of the year so far was the sale of the Pierpoint Retail Park in King’s Lynn. Covering over 74,000 sq ft and home to some of the biggest names on the high street, the park was purchased by the Tritax Property Income Fund for £24m. The seller, LondonMetric Property, bought the park in 2011 for £15m and gave it a full refurbishment before selling it on for an impressive profit.
With more and more people moving to Norfolk, it’s no surprise that councils across the county are looking for innovative ways to accommodate the growing population. One new development that’s set to see the green light this year is located within Racecourse Plantations in Thorpe St Andrew. Up to 300 new homes will be built in the development, with a 150-acre woodland park built into the new site. Thorpe Woods will offer a range of properties for sale, with many investors looking to cash in on growing interest in the area.
City centre tower block
It’s not just suburbs and retail parks being affected by the county’s property boom, Norfolk’s towns and cities are also seeing considerable development. The skyline of Norwich city centre is set to change for good in the coming months with the construction of a new development that will reach up to 13-storeys high. Designed to house student accommodation, apartments, shops and amenities, the new tower will become a landmark in the city centre. Scheduled to open in 2018, the new tower will form a cornerstone of the city’s future property market.
If you’re interested in investing in Norfolk’s exciting property market, of if you’d just like to find out more about opportunities in the county, take a look around our site or get in touch with us today.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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