So said The Independent about Lincoln University when it moved from Hull to our city, many years ago.
There’s little doubt that The Independent was right.
Lincoln University means a great deal to the local economy.
£250 million per annum to be exact.
The number of students based in Lincoln as undergraduates or postgraduates totals more than 15,000, with a diverse population mix from over 100 nationalities.
It all started in 2002 when Lincoln University was born after it moved cities.
The Brayford Pool campus cost £150 million to develop but has provided 3,000 jobs and a massive boost to the local economy and the perceived kudos of Lincoln, as a place to live and study.
Coupled with the recent media prominence of the Imps and the development of The Engine Shed (built 1874) into Lincolnshire’s largest music venue, Lincoln, like Steep Hill, is on the rise.
At Starkey&Brown, we are finding that Lincoln University is impacting on property prices and is a hot investment place, given its growing academic reputation and the beauty of the cityscape.
The University is still investing too – in the likes of the Isaac Newton building which cost £28 million.
Students and investors are spoiled for choice in Lincoln.
The University of Lincoln provides student village accommodation at Lincoln Courts and Cygnet Wharf, as well as many off campus options at Monson Street (just off the High Street), The Traveller’s Rest (near Sincil Bank), Pelham Bridge as well as the newer accommodation called The Gateway with 519 student rooms.
Additionally, there are Partnership Halls dotted around the city, to give greater choice.
For investors and those who remain in Lincoln after graduation, the city has great potential.
According to Rightmove (13th April 2017), the majority of property sales over the past year were terraced houses, selling for £140,034 on average.
We’re seeing prices rise above this selling average in recent months with terraced homes in the West End area reaching £200,000, with the Monks Road locale running below these sort of figures. Rents in the Monks Road area are often slightly lower than the West Parade and Carholme Road areas.
What we do know is that with the new Lincoln transport hub, along with continued investment in the university and city infrastructure, buying property to live in, or invest in as Buy to Let, makes great financial sense.
If you’d like to know how much your Lincoln or Scunthorpe property is worth, please contact Starkey&Brown, one of the region’s leading independent estate agencies, for a free no-obligation valuation.
Image courtesy of University of Lincoln – www.lincoln.ac.uk