Hot Spot: Blackpool

A £1bn masterplan is intended to turn this seaside city into a 21st-century world-class resort, says Robert Liebman

Donkey rides. Autumn illuminations. Harry Ramsden. "More rollercoasters than any other amusement park on the planet, including the tallest, fastest steel rollercoaster in the world." Blackpool seems to have it all but wants more, and then some.

A £1bn-masterplan underpins the local council's drive to propel the famous seaside city into a "spectacular, world-class resort for the 21st century." The initiative includes the construction of hundreds of town houses, new office developments, a massive glass-covered entertainment complex, casino hotels and a new conference/arena facility. The donkeys will carry on as before, but local transport will be bolstered by ultra-modern trams. Construction is expected to take between 15 and 20 years and create up to 20,000 jobs.

Estate agent Justin Allitt reports brisk business from owner-occupiers and investors alike. "Our buyers are moving from within Blackpool itself or coming into the city from Preston, Blackburn and other areas in Lancashire as well as from the south. We also get retirees who came here as children and have happy memories." Football legend Sir Stanley Matthews played for Blackpool, and magician Alistair Cook, Pet Shop Boy Chris Lowe, Jethro Tull's Ian Anderson and Paula Yates all attended local schools.

Investors are attracted by relatively low property prices, combined with a steady flow of tenants. "Investors buy flats and flatlets. There is a lot of work here in the summer, and many workers come here just for the season. There are many shows, and the stars also need places to rent. It slows down in the winter, but even then there are conferences and a huge number of student tenants, so returns are usually good anyway."

It's just as well, because Blackpool is not exactly lacking in landlords; guest houses and hotels number more than 2,000. Most do good business, since the city attracts more than 15 million visitors every year.

For golf instead of cotton floss, Lytham St Anne's, on the coast a few miles south of Blackpool, has several challenging courses, including The Royal Lytham and St Anne's, which has hosted the British Open and will stage this year's British Women's Open. For an inland rustic alternative, Poulton le Fylde has converted farmhouses and other country properties less than four miles from the promenade.

Despite its honky-tonk, kiss-me-quick image, Blackpool is "a nice seaside town," says Allitt. "Already there has been a lot of investment. We have a lot of public art, and the old solarium is being turned into a solar-powered environment centre. Thanks to a shortage of property, the market is robust."

THE LOW-DOWN

Getting there

For most train travellers, Blackpool is accessible via frequent local shuttle service from Preston. There are several trains per hour from Manchester (50 miles; 1 hour 15 mins) and 10-12 trains per day from London (245 miles, just under 4 hours). The airport has scheduled daily service to London Stansted, the Isle of Man, Dublin and Belfast, and charters to Jersey, Tenerife, Majorca and Alicante.

Shopping

The town-centre Hounds Hill centre has more than 40 shops. Nearby are M&S, Littlewoods and Shopmobility, and a daily street market from Monday to Saturday.

Entertainment

Cinemas are located in Blackpool and Lytham St Anne's. The Opera House, Winter Gardens and the Grand Theatre stage large-scale performances. Outdoor concerts are held in Stanley Park, and Grundy Art Gallery has Victorian and contemporary paintings and photographs of old Blackpool.

Family fun

The zoo has 400 animals in 32 acres and a miniature railway, and Sea Life Centre has tropical sharks. Stanley Park offers boating and crazy golf. The Autumn Illuminations last for two months, and cover six miles of promenade. Celebrity switch-flippers have included Tom Baker (Dr Who) Red Rum, Terry Wogan and the Muppets in the 1970s, Frank Bruno in the 1980s, and Chris de Burgh and Lisa Stansfield in the 1990s.

Sports

The area is rich in diving, wind surfing and other water sports, and horseriding and ice skating are also available. Ten health and fitness centres are dotted around the city, including a Waterworld swimming complex. Stanley Park offers tennis, bowls, golf, crazy golf, an all-weather pitch, cricket ground and athletic ground.

What you'll pay

A two-bed purpose-built flat with some double glazing near the M55 is £59,950 at Allitt, who are also selling a 2-bed mid-terrace for £52,950 and a 4-bed terrace for £62,500. A better-located 3-bed semi costs £125,000, through agents Butson Blofeld.

Bungalows

A two-bed semi-detached bungalow with conservatory and garage, £116,950; a detached "true" bungalow with two double bedrooms, lean-to and long driveway, £120,000; at Halifax.

Lytham St Anne's

Nearby resort, home to the famous Royal Lytham and St Anne's golf course, has large detached houses, one with six bedrooms, two receptions and double garage is £365,000; another with five bedrooms, four receptions and double garage is £450,000, and an exceptionally bright architect-designed detached house is £430,000, at Bradford & Bingley.

Poulton le Fylde

In Poulton le Fylde, 2-bed flats and cottages are available for between £100,000 and £150,000, but period semis cost more than £300,000, and a new 3,500 sq ft detached house costs £550,000; at Butson Blofeld. A converted farmhouse/dairy with 2 receptions and three bedrooms is £275,000, at Bradford & Bingley.

Estate agents

Allitt, 01253 752700; Bradford & Bingley: (Blackpool), 01253 623511; (St Anne's), 01253 725166, (Poulton le Fylde), 01253 892892; Butson Blofeld, 01253 894494; Halifax, 01253 407782.