Where to invest in Edinburgh
We are often asked by potential landlords with an eye to property investment which areas of Edinburgh will offer the best return for their money. For some time now both the Dalry and Leith Walk areas have proven to offer a reliable income as the strong demand for rentals, particularly for one or two bed properties, results in swift lets with few vacant periods.
In addition to their positive track records, the large investment projects currently underway in both neighbourhoods heightens the likelihood of strong capital growth in years to come. Below we take a closer look at why this is.
‘The Haymarket’ Development
Located at the Haymarket intersection, on the junction of Dalry Road and Morrison Street, ‘The Haymarket’ development is a £200m, 650,000 sq. ft. investment that will bring a mix of new retail spaces, leisure facilities, offices and hotels to the area. The complex is due for completion in early 2018.
The development benefits from its strong location, a strategic choice due to the excellent transport links provided by the nearby Haymarket Station, tram stops and plethora of bus routes. Due to this ease of access the site is expected to draw business from all areas of the city, turning Haymarket into a busy hub to rival Waverley.
Anyone who lives in Edinburgh cannot have failed to see the change that is occurring on Leith Walk following years of struggle during the tram works.
The recent update to the street’s layout has enhanced the area for pedestrians and cyclists, the latter overjoyed by the new segregated off-road cycle lane on both sides of the road. A modern redesign of the junction at the Foot of the Walk has also been undertaken which aids the smooth ebb and flow of traffic.
There have been many new stylish bars, restaurants and shops opened lately on Leith Walk. Now there are big investments on the derelict Shrubhill site with student accommodation and affordable housing being constructed. Along with the housing will come a further array of shops and restaurants which will in turn attract more people and investment into the area.
Time will tell whether or not the tram extension to Leith will ever take place but either way Leith Walk seems to be on the up.