Today in the JDG office we got all cultural. It began with conversations about Josh going to the theatre this evening. David then piped up that he has a buyer that wants to live near the theatres, followed by Chris saying that he has buyers who want to move to be close to The Gregson. Poor Josh’s trip to see Sarah Millican soon got sideswiped!
Our research team decided to get involved, hence the pretty picture above. They came back reporting that research commissioned by the Creative Land Trust illustrates an outperformance of residential values in areas with a cluster of creative industries. Creative industries include all types of artists, screen printing, film making, music, performing arts and rehearsal space. Case studies across London and the Thames Estuary were used but the findings will apply in any location.
We thought let’s take a look at the Freehold area. This is known to be one of our most creative areas. The average price per square foot in Lancaster currently stands at £181 per sqft. We have just agreed on a sale on a home on Ullswater Road – this has just sold for the equivalent of £235 per sqft. A house on Windermere Road has just sold for the equivalent of £234 per sqft and a home on Rydal Road completed at the equivalent of £254. As you can see, living in one of the most creative areas of Lancaster does pay! And in Lancaster, there is more than a 4% uplift!
At JDG we love talking about property. Property data excites us. We love sharing our knowledge with our clients and making sure you are all better informed.
If you are thinking of buying, selling or investing in Lancaster – please give us a call. At JDG we are here to help. Call us on 01524 843322.
Best wishes
Michelle