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  • Writer's pictureRobin Lawson

11 Ways to Identify Prime Locations for Serviced Accommodation Properties in the North East

Updated: 2 days ago

Strategic Insights for Serviced Aparments Investment



Investing in serviced accommodation properties in the North East can be a lucrative venture, provided you choose the right location. The demand for serviced apartments is steadily increasing, driven by factors such as business travel, tourism, and relocation. Identifying prime locations requires a strategic approach that considers various factors influencing guest preferences and market dynamics. Here’s a comprehensive guide to help you pinpoint the ideal locations for your serviced apartment investment.


1. Proximity to Business Hubs

Targeting areas close to major business districts and corporate offices is essential. Business travellers often seek convenient accommodations near their workplace, making these locations prime for serviced apartments. Newcastle city center, Gateshead Quayside, and Sunderland's city core are notable examples in the North East.


2. Accessibility and Transport Links

Accessibility via public transport and proximity to transport hubs like airports, train stations, and major highways are crucial for attracting both business and leisure travellers. Locations with easy access to transportation networks enhance the appeal of serviced apartments.


3. Tourist Attractions and Leisure Facilities

Areas near popular tourist attractions, cultural landmarks, and entertainment venues attract leisure travellers and tourists. Coastal towns like Tynemouth or cultural hubs like Durham offer opportunities for serviced apartment investments catering to vacationers seeking both comfort and convenience.


4. Educational Institutions

Proximity to universities and colleges can create demand for serviced apartments from students, visiting academics, and their families. Cities like Durham and Newcastle, home to prestigious universities, present opportunities for long-term stays and academic-related visits.


5. Local Amenities and Services

Evaluate the availability of amenities such as supermarkets, restaurants, cafes, and recreational facilities within walking distance. Areas with a vibrant local scene and essential services nearby enhance the desirability of serviced accommodation properties.


6. Corporate Demand and Relocation Trends

Consider locations with a strong presence of corporate offices, business parks, and industries. Such areas generate demand for extended stay accommodations from corporate travellers, project teams, and relocating employees.


7. Safety and Neighborhood Appeal

Safety and the overall appeal of the neighborhood play a significant role in attracting guests. Choose locations with low crime rates, well-maintained surroundings, and a positive community vibe to reassure potential guests of their comfort and security.


8. Market Trends and Investment Potential

Monitor market trends and investment potential in the North East region. Look for areas experiencing economic growth, urban redevelopment, or infrastructure improvements that could positively impact property values and rental yields.


9. Competitive Landscape and Pricing Strategy

Assess the competition from existing serviced apartments and traditional accommodations in your target locations. Analyse their pricing strategies, occupancy rates, and guest reviews to determine your competitive positioning and pricing strategy.


10. Future Development Plans

Stay informed about future development plans and urban regeneration projects in the North East. Areas undergoing revitalisation or expansion may present early investment opportunities before property prices escalate.


11. Proximity to Hospitals and Medical Facilities

Choosing locations near hospitals and medical centre is crucial. The North East boasts several prominent hospitals, such as the Royal Victoria Infirmary and Freeman Hospital in Newcastle. These facilities attract medical professionals needing short-term accommodations and families visiting patients for extended stays.


Serviced Accommodation Properties


Choosing prime locations for serviced apartments in the North East involves a blend of research, market analysis, and understanding guest preferences. By focusing on accessibility, local amenities, market demand, and future growth prospects, you can identify locations that offer the potential for high occupancy rates and attractive returns on your serviced apartment investment.


For expert advice and assistance in identifying and acquiring prime locations for serviced accommodation properties in the North East, contact Clarice Carr & Co. Our specialised knowledge and strategic insights can help you make informed investment decisions in this thriving market.

Want to know more? Check out our website or get in touch.

 

Frequently Asked Questions

Why is proximity to business hubs important for serviced apartment investments?

How does accessibility and transport links influence the success of serviced apartments?

What role do tourist attractions and leisure facilities play in serviced apartment investments?

How can educational institutions impact serviced apartment demand?

What factors should be considered when choosing prime locations for serviced apartments in the North East?


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