If you’re looking to invest in property away from the city – but not too far away – you’ll do no better than Sussex. In this article, we’re going to be sharing eight reasons to invest in property in Sussex in 2023.
Sussex is a historic county in Southeast England, most famous for the seaside town of Brighton in West Sussex. However, there’s a lot more to Sussex than sea and sand (although its 90 miles of coastline is something of a draw).
Sussex is an increasingly popular choice for couples and families to live as it’s close enough to London to be commute to if needs be – but far enough away to escape the hustle and bustle.
It’s also become a hot spot for those looking to invest in commercial property. If you’re already considering an investment in commercial property, then your next step would be to speak to commercial property solicitors. In this article, we’ll be looking at eight reasons why you invest in property in Sussex in 2023.
1. Disposable income
The Sussex population has increased steadily in recent years and many of its residents are young professionals, giving the area a percentage of disposable income well over the national average. For those investing in commercial property such as shops and restaurants, this means a much better chance of success than other parts of the country.
2. Plentiful development opportunities
Sussex – and East Sussex in particular, offers lots of affordable and highly desirable properties for those looking to make a development purchase. B&Bs and holiday apartments are in demand in Sussex all year round and can generate a great investment income.
While many properties are particularly cheap, they could still be a sound investment considering their close proximity to Brighton and London.
3. The tourist trap
Around nine million people visit Brighton and Hove every year – all of whom are looking for great accommodation, restaurants, cafes and bars. For a property investment, these numbers are pretty compelling and practically guarantee a great earner as tourists hit the region every summer.
4. Employment opportunties
Sussex offers a wide range of employment opportunities which are attracting people to relocate to the area. In the past, jobs in the region may have been fairly limited to the hospitality sector, but that’s no longer the case. New jobs are further fueling Sussex’s levels of disposable income, making it a great choice for commercial investment.
5. Transport
A key to any successful business is how easily accessible it is to customers. Sussex has fantastic transport links including buses and a number of train stations which offer affordable and convenient transport solutions. This includes Brighton station, with a staggering 383 services between London and Brighton every day – with most journeys taking less than an hour and a half.
6. Commercial property prices
As we’ve mentioned, we wouldn’t go so far as to say that commercial property in Sussex is cheap but, it’s much more affordable than places nearby such as London. If you’re looking to set up your own business, then Sussex could over more with less competition too. For example, you could pick up a seafront fish and chip shop with on-site accommodation for £225,000 with an estimated annual turnover of £100,000.
If you’re looking to purchase retail space, East Sussex commercial property market offers over seven million square feet of space so you’ll be spoilt for choice.
7. Community
Many areas of Sussex enjoy a fantastic sense of community – including between business owners. For those who own commercial property in Sussex, this means access to a great network of people and opportunities for collaboration.
Unlike some of the UK’s cities, even the most metropolitan areas of Sussex manage to retain a community atmosphere with neighbours, both residential and business. Sussex also enjoys a strong LGBTQ community and is committed to inclusivity.
8. Variety
Sussex is made up of a number of towns and villages, all of which have different things to offer. Within this county, you’ll find unique towns, stunning countryside and of course, some of the country’s best beaches.
Sussex is also home to one of the world’s largest marinas. Brighton’s marina spans across a whopping 127 acres, 35 of which is land. So whether you’re looking to set up in the country, on the seafront or in a small town, the possibilities are endless.
Investing in property in Sussex…
Investing in commercial property can be a leap of faith – particularly at a time when a great many Brits are tightening their belts. Having said that, you can certainly stack the odds in your favour by choosing to buy commercial property within a region which is thriving.
Sussex has a lot going for it, including a population with a high rate of disposable income as well as a huge number of visitors every year. The county also offers a wide variety of commercial properties for sale at competitive prices, making Sussex a great choice, whatever kind of property you’re after.
Please be advised that this article is for general informational purposes only, and should not be used as a substitute for advice from a trained legal professional. Be sure to consult a lawyer/solicitor if you’re seeking advice on buying commercial property. We are not liable for risks or issues associated with using or acting upon the information on this site.
