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The port operations run by Associated British Ports
and other companies in the port employ 5,000 people.
A further 18,000 are employed as a direct result of
the port's activities. The port area of the city has
diversified to compensate for the decline in fishing
by the introduction of Roll-on Roll-off ferry services
to the continent of Europe. These ferries now handle
over a million passengers each year. Hull has exploited
the leisure industry by creating a marina from the old
Humber Street Dock in the centre of the city. It opened
in 1983 and has 270 berths for yachts and small sailing
craft.
Industry in the city is focused on the chemical and
health care sectors. Several well-known British companies,
including BP, Smith & Nephew, Seven Seas, and Reckitt
Benckiser, have facilities in Hull. The health care
sector is further enhanced by the research facilities
provided by the University of Hull through the Institute
of Woundcare and the Hull York Medical School partnerships.
In August 2010 a 110% increase was reported in tourism
enquiries to the city, with Hull becoming an increasingly
popular destination for "staycation" short
breaks.
Overlooking
the Humber, the new £165 million Humber Quays
development, which has now gained World Trade Centre
status, is adding new high-quality office space to Hull's
waterfront. Kingston upon Hull is also home to the University
of Hull, which was founded in 1927 and received its
Royal Charter in 1954. It now has a total student population
of around 20,000 across its main campuses in Hull and
Scarborough.
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The following shows us that during 2011, Hull has Continued
to see strong Investment
Siemens'
decision to build an £80 million turbine factory
in Hull marks a major milestone in the city's history.
Industry on this scale has not been seen in the city
for decades. The Siemens factory could generate up to
10,000 new jobs in the region and will feed into the
biggest wind farms the world has ever seen. It will
be built on 130 acres of Associated British Ports (ABP)
land at Alexandra Dock. As part of this project ABP
are to construct a £100 million riverside berth
at the dock which represents the biggest investment
by the company since they built the docks. Siemens'
factory and export facility will supply the Dogger Bank,
Hornsea and Norfolk Bank wind farms which all lie within
12 hours steaming time of Hull. These round three North
sea wind farms are set to be the biggest in the world
with a combined total of 5000 wind turbines - more than
the rest of the world put together. They will generate
20,000 megawatts (MW) of energy, enough to power about
15 million homes. Under the government's targets for
20 per cent of energy to come from renewable sources
by 2020 these wind farms will need to be up and running
in less than ten years. With Siemens, the world's biggest
turbine manufacturer coming to Hull, it is likely that
most of these turbines which could reach up to 175 metres
in height and generate 6MW, will be assembled and shipped
out of the city. Under the current plans, construction
on both the Siemens factory and the riverside berth
will start in early to mid-2012 and will take 18 months
to two years to complete. Several hundred construction
jobs will be created during this period. About 700 jobs
will be available in the factory once it is up and running
and it is thought that another 9000 could be created
within supply chain and servicing industries. It is
hoped that with the world's leading turbine manufacturer
moving to the city, other related industries could follow
transforming Hull and the Humber into a hub for renewable
energy. Adapted from an article originally published
by thisishullandeastriding.co.uk
ABP
and Hull City Council have identified 918 acres of land
along the Hedon Road corridor which could be used for
future development. The long term aim of stakeholders
like ABP and Hull and East Riding councils is to create
a 'cluster' of renewable industries in this area. So
we feel Hull is a good sized city to target, and has
plenty of economic opportunities that can allow further
growth from a very affordable starting point.
One
of the concerns clients have investing out with their
area is, who will manage the property?
And what if repairs need to be carried out?
Well
here we have the perfect solution.
How
about securing property at a minimum of 7% rental return,
at a 20% discount to a current RICs valuation, fully
refurbished including:
- New
double glazing
- New
central heating
- Replastered
- New
bathroom
- New
Kitchen
- New
carpets or tiling
So
maintenance issues are a minimum, for the foreseeable
future.
Then
the rental concern, what if no one moves into my property?
How about we also cover the mortgage payments until
a tenant moves in? This should only take 4-6 weeks but
gives you that extra confidence as well.
So
you can build up a portfolio with confidence of properties
providing a healthy monthly positive cashflow, below
current market value and fully refurbished!
Hull
provides us with some of the best value properties of
any city in the UK, and with the ongoing investment
going into the city this is expected to continue.
To
find out more on our Portfolio Building Programme, with
10 new places becoming available on June 1st, to book
a Viewing Trip in Hull or to see all our Property Investment
Deals Register
your details here.
I
look forward to working with you!
Regards
Alan
For more Information,
sign up for free at property-investment-deals.com and
receive our free 7 part guide, “7 Fatal Mistakes
to Avoid”.
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