Why Invest in Hull?
First, a few things you need to know about Hull: Hull is more correctly known as Kingston Upon Hull. Oddly, Hull is named after the smallish River Hull on which it is located – and not the much larger River Humber on which it is also located.
Another myth to bust about Hull is that it’s in Humberside, which it hasn’t been for some years. It’s actually in East Yorkshire, although Hull itself is in the Hull City Council area.
Hull has a population of 260,240. This report says Hull’s population is the highest for 20 years as more people are choosing to live, and stay, in the city. That’s something that can only help the Hull property market.
Hull is best known for being a major trading port and fishing port – industries which still exist today but in a smaller form than the past. Modern-day Hull is an enterprising city which attracts world leaders from a diverse range of sectors and is home to almost 10,000 businesses.
Key Hull industries include manufacturing, ports and logistics, food processing, chemicals, research and development, retail and education. Big-name employers in Hull include Associated British Ports (ABP), Aunt Bessies, BP, Crown Paints, Ideal Standard, KCom Group, Reckitt Benckiser, Siemens Gamesa and T.J. Smith & Nephew.
Very excitingly, Hull is becoming a global centre for renewable energy, with the development of the Siemens Gamesa wind turbine factory at Green Port Hull.
Hull’s industries have attracted lots of migrant workers from abroad in recent years. In fact, the local council say many local employers now rely on both long and short stay migrant workers. Again, good news for buy to let landlords because it boosts demand for houses and flats to let.
It’s true to say Hull has suffered more than its fair share of industrial decline, is often underrated and some of the housing estates there have been much stigmatised in the past, most notably Orchard Hill, which was once described as ‘one of the poorest peripheral estates in Britain‘.
But regeneration here kicked off in the 1980s with the development of Hull Marina and Prince’s Quay. Hull was the UK City of Culture 2017. This attracted more than five million people, £220m of investment and 800 new jobs to Hull and it is hoped it will bring even more investment in the future.
For an industrial city, Hull has plenty of attractions for visitors too. The Deep is said to be one of the world’s most spectacular aquariums. There’s also the Ferens Art Gallery, Hull Maritime Museum, the Wilberforce House Museum, Hull New Theatre, the Hull Venue, Hull Old Town and the oddly-named Land of Green Ginger.
The University of Hull has around 16,500 students. The Hull York Medical School also has a campus here. The university’s campus is on Cottingham Road in north Hull. favourite areas for student accommodation landlords include Cottingham Road, Newland Avenue and Beverley Road.