London Borough of Culture 2023 a Boon for Croydon

Introduced by Mayor of London Sadiq Khan in 2017, the Mayor’s London Borough of Culture award offers more than £1m of funding for boroughs to host a range of cultural events, activities and initiatives over a whole year. In spring 2019, the mayor announced that Croydon had won the award for 2023. As the celebrations draw closer, we look at how this important accolade will make a difference to the borough, and potentially make it more attractive to buy-to-let investors.

The Mayor’s London Borough of Culture award draws Londoners together, placing culture at the heart of local communities and showcasing the character and diversity of London’s boroughs.

Here at homes2let, we believe that any buy-to-let investor seeking property in the area should be suitably excited at the news of Croydon being awarded London Borough of Culture 2023, especially since this part of south London has also benefited from extensive investment in housing and transport in recent years.

A significant achievement

Being awarded London Borough of Culture is a significant achievement when it comes to funding, with £1.35 million awarded to back a year-long programme of activities aimed at placing culture at the heart of the Croydon community. 2023 will also celebrate the distinctive character of local places and people.

Croydon’s bid for the award, ‘This is Croydon’, was focused around sustainability. Residents of the town as well as visitors will get to enjoy a vibrant 12-month programme of activities themed around nature, inclusion, progress and growth.

Local community art commissions, a music festival and a ‘re-use and recycle’ fashion show will make up just a small proportion of the planned 10-event cultural programme, which will combine with wider community projects.

Employment opportunities for young people will be created, and every school in the area will be involved, clocking up 20,000 participants. The events are predicted to entice considerable audiences, putting Croydon in the spotlight as one of London’s most attractive places to live, work and spend leisure time.

Croydon in the spotlight could spark heightened demand for housing

Croydon has an incredibly rich artistic and musical heritage, strongly buoyed by creativity and diversity. Considered a town that always looks to the future, it is known for its backing of inclusivity, and is home to a host of talent.

As London Borough of Culture, Croydon will be put on the map in a big way, not just in 2023 but during the build-up over the next two years. Set to be considered as THE go-to town in London, Croydon is going to start becoming more and more attractive as a place to live, particularly for those who work in London and are looking to ease their commute.

How to maximise potential from your buy-to-let property investment in Croydon?

If you are thinking about investing property in Croydon to make the most of all the London Borough of Culture opportunities, why not consider protecting your buy-to-let with a guaranteed rent scheme?

At homes2let, we offer a complete property management service, but with an added advantage. Unlike with a traditional property management service, the homes2let guaranteed rent scheme returns you a greater yield, whilst reducing your investment risk by guaranteeing your monthly rental payments, even during void periods.

Why not talk to Croydon-based homes2let to find out more? Our friendly team has specific expertise in the Croydon property investment market, and is on hand to share a wealth of knowledge to help you get the most out of your rental venture. We welcome you to get in touch today.