As Bedford basks in the excitement of Universal Studios’ announcement that it will build its first-ever European theme park near Kempston Hardwick, one property expert has warned that not everyone will benefit.
Jack Malnick, managing director of property firm Sell House Fast, has shared a cautionary view on how the project could reshape the local housing market and may not be so positive for local renters and first-time buyers.
His comments come as Bedford has been named as one of the top five local authorities for rising property transactions, with a 17.3% year-on-year increase in Land Registry activity, suggesting momentum is already building in the area.
Read: Property experts say Universal Studios will boost property and investment boom in Bedfordshire
“Universal’s announcement has certainly garnered a lot of attention, and locals are right to question if the 2031 park launch is good news for them,” he said.
“I’d be wary of Universal’s early optimism; their plans to begin construction in 2026 feels highly unlikely given the way the UK planning system works. I’d expect the start date to be pushed back, giving locals a little breathing and decision-making space.”
While that may seem a little pessimistic to some, the Prime Minister, Chancellor, and President of Comcast, parent company of Universal Destinations and Experiences, all doubled down on their commitment to open the park’s gates in 2031.
Read: Prime Minister and Universal Studios executives visit Bedford to mark historic theme park deal
Boom for landlords, bust for renters?
Malnick predicts that the demand for short-term lets and investment properties will grow sharply as the theme park takes shape, with an influx of new workers and, later, millions of annual visitors.
“The floods of visitors that the theme park will attract is likely to drive out locals but increase the number of holiday homes and rental properties near to the site,” he said.
“Whilst this may attract local investment, it’s likely that much of Bedford’s properties will be purchased by investors outside of the local economy, meaning locals are likely to see little benefit from the property ‘boom’.”
He added that rising rents may force existing residents out of the area. “Landlords will benefit from this influx whilst local residents who currently rent may be priced out as rents spike with demand.”
Short-term gain, long-term questions
Universal has pledged to create 28,000 jobs across the resort’s construction and operational phases. While this may stimulate the local economy, Malnick believes it’s important to consider who those opportunities are truly for.
“In short, the opening of Universal’s first UK theme park will be good news for landlords and homeowners looking to profit and not necessarily remain in Bedford.
“It’s bad news for those currently renting in the area, as competition for accommodation is set to peak and landlords are likely to want to cash in.
“The holiday rental market will boom amid the displacement of locals, and housing sales may stall as more homeowners decide to rent out their homes.”
