A recent announcement giving the go ahead to the construction of a new crossing over the river Mersey at Widnes is expected to generate significant economic benefits and in turn, will kick start the area's property market, writes Sue Kelbrick.

These benefits include the creation of 57,000 sq m of commercial floor space, 3,350 new jobs, a £90m increase in commercial property values and £15m of additional development value for the area.

The New Mersey Crossing forms part of a £70m investment project, the Widnes Waterfront Economic Development Zone which will transform over 200 acres of low quality industrial land creating over 2,700 new jobs during the lifetime of the programme.

The case for the successful regeneration of Widnes is strong but what does this actually translate into for the investor?

The development programme currently in place is due to be completed by 2012 and an Economic Impact Assessment carried out by consultants Gifford and Partners has predicted a 5% increase in average house prices as a result of the completion of the New Mersey Crossing so investors are advised to get in before 2012 to reap the benefits.