Liverpool mayor Joe Anderson, despite being an Everton fan, said that he equated the effect the victory will have on things like hotels, pubs and restaurants to being “in excess of £150 million” in terms of brand value, and viewed the amount that it would contribute to the city in terms of tourism and visitor economy as “incalculable”. This might sound like hyperbole in a moment of excitement but looking at the 750,000 turnout of the welcome parade, one day after the match, his insight evidently must have merit.
With a football team widely regarded as the best in the world at the moment, combined with the demand for balanced scales with the capital in terms of spending through the “Power in the north” initiative, things are looking great for Liverpool. But what does this recent win mean for the city, and how will it impact the wheels of regeneration that are already in motion? Well again Liverpool, alongside other northern cities such as Manchester and Leeds, is already on the rise in terms of its popularity and draw...
Here are some key areas in Liverpool that are already healthily expanding, bettered only by the fruits of football’s labour.
The fields of Anfield road
Liverpool FC’s stadium has already undergone some drastically needed regeneration, with around £120 million spent on improving the seating capacity to 54,000, and the turnout of over 750,000 people to the Champions League parade at the start of the month has opened the eyes of club owners to the potential of even more growth for the stadium, especially considering the fact that waiting lists for many fans hoping to get a season ticket exceed 100 years. Owners have spoken about the desire to increase the seat count to 60,000 and beyond, and may submit new plans towards the end of the year.
There are also plans to expand and optimise the areas surrounding the Anfield stadium. With £36 million invested into houses, commercial premises and apartments, it is set to draw even more attention to the city, again increasing the demand for local living as a result.
The university appeal
Across its multiple universities, including the University of Liverpool and John Moores, which feature open campuses embedded right beside the city centre, Liverpool is teeming with around 50,000 students that enjoy its rich culture. The city also has a large number of international students from over 100 countries, heightening the demand for affordable residence.
To accommodate those yearning for city centre living, property investment companies such as RW Invest are offering luxury student accommodation a stone’s throw away from the capital. Their City Point residence, for example, offers a gym, common room and high-speed internet, within walking distance of the universities and train stations for easy commuting.
The technology sectors
A thriving hub of entrepreneurs and companies involved in technology-focused areas, such as software and game development, the Baltic triangle has repurposed its traditional, abandoned factories of yesteryear into trendy locales that young professionals flock to, not only to work in the sort of creative environment that sections of London are (or at least, were) known for, but for more affordable office space costs and cheaper rent for living. The nightlife in this area of the city is also beginning to rival the bars and clubs of the city centre, expanding visitors' gaze further afield from the typical areas.
Planned future developments such as a £70m luxury hotel, with built-in restaurant, spa and gym, will surely play host to the next generation of Liverpool fans and tourists that come to visit the club, provided that they can get a ticket for the match, which is doubtful.
"Liverpool Mayor Joe Anderson says the Reds' triumphant march to European glory could be worth as much as 150m to the city."
Liam Thorp, Liverpool Echo
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