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Bath is 'Safe City' for Investment

By +Eric Jafari

BathIt isn't just London that is proving to be a safe haven for investment amid economic uncertainty, according to Jones Lang La Salle. The leading property advisors claim that Bath is distinguishing itself as a place protected by its own 'bubble'. In the South West Market Review, entitled The Winning Edge, it was revealed that Bath has one of the highest growth rates outside of London and South East. For 2013, it is expected this will continue, with growth predicted to occur at 13 per cent.

Jones Lang La Salle asserts that there are also a number of emerging sectors and trends in the city, with an encouraging level of cautious optimism. John Mulholland, director at the Bath office, explained: "The Bath economy has always behaved differently from other UK cities in times of recession. Its strength in the retail, leisure and education sectors means it has made itself comparatively resilient to the economic downturn. It continues to punch above its weight, ensuring that this relatively small city remains a genuine national and international destination."

This is in part thanks to the fact that in Bath, when one door closes, another one opens.  For instance, when retailers have left the high street, new shops have taken their place. JJB is to be replaced by TKMaxx, Shoon has made way for Jack Wills and Jane Norman is now Molton Brown. Jones Lang LaSalle maintains that Southgate has also helped the city go from strength to strength. Improvements to the area have created a "sense of arrival", enhancing the appeal of the wider city and pulling investors in a southerly direction.

Residential units also continue to be popular and development is occurring at a pleasing pace, with the first phase of Western Riverside near completion. New apartments have also been finished at Southgate and sold to investors worldwide. The city is certainly enjoying an increase of confidence in the housing market, generated by the marketing of the Ministry of Defence sites at Warminster Road, Ensleigh and Foxhill.

26 February 2013

Tags

Bath,Property Bubble