Freeports - Why Aren’t We Talking About This?

In the recent Budget, the location of eight new Freeports were announced and David looks at what a Freeport is and the positive impact freeport areas have on an area. With the generation of infrastructure and favourable planning along with benefits such as favourable customs duties and low or zero VAT rates, there are many positives in a Freeport area. If you are deal packaging there is great potential and opportunities that should not be missed.   KEY TAKEAWAYS Freeports are usually located around shipping ports or airports The Solent Freeport will incorporate a large geographical area and could generate 52,000 jobs. The Teesside  Freeport will be huge with 46 geographical areas connected with the Freeport with an estimated 3.4 billion boost to the economy. A freeport generates a huge amount of infrastructure spending Benefits for these areas include favourable customs duties, low or zero VAT rates There is simplified planning or a suspension of planning in these areas. Property prices as a result of freeports will be strong. Property opportunities in the Midlands are going to be exciting If you are in the East Midlands, Felixstowe, Harwich, Humber, Liverpool and City, Plymouth, Solent, Thames or Teesside now is the time for great opportunities. When structuring a deal, you need to include the positive effect of Freeports on your property.   BEST MOMENTS ‘Freeports’ extend over a significant area’ ‘There is a huge amount of forced appreciation of assets in those areas’ ‘This sounds like a huge opportunity for property people in these areas’   VALUABLE RESOURCES  Property Sourcing Profits Podcast https://www.progressiveproperty.co.uk/ https://unlimited-success.co.uk/ https://www.facebook.com/groups/progressivepropertycommunity/ Property Investors podcast   ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.   CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/