Why Invest in Wakefield
Wakefield is a small but historic cathedral city in West Yorkshire with a population of around 109,766, as of the 2021 Census. However, the wider Wakefield Metropolitan District Council area, which includes surrounding towns, has a population of approximately 345,000.
Wakefield’s traditional industries included coal mining and engineering, but its economy has since diversified into light manufacturing, services, and logistics. The city is home to several large business parks and well-known companies such as Teva UK, Card Factory, Haribo, and Coca-Cola. It also boasts excellent transport links, situated near the M1 and M62 motorways and the East Coast Main Line railway, with London just a 2-hour train ride away.
The city offers good accessibility to Leeds, located only 10 miles away, making it ideal for commuters seeking more affordable housing options. Wakefield also has impressive city amenities, including two large shopping centres, The Ridings and Trinity Walk. Additionally, the city is known for its cultural attractions, such as Wakefield Cathedral, Sandal Castle, and the National Coal Mining Museum.
An exciting development in the city is the regeneration of the Rutland Mills complex, which will be transformed into a modern, cultural space with offices, music studios, and a boutique hotel. This project is expected to be a significant boost to the local economy. Another notable project is City Fields, an urban extension east of Wakefield, which will include 2,500 new houses, shops, restaurants, leisure amenities, and industrial units.
With its central location, excellent transport links, growing economy, and cultural offerings, Wakefield presents a compelling investment opportunity, particularly in the property market. The city offers excellent value for money for property buyers and investors, with house prices well below the national average and the potential for high rental yields.