Manchester is at the forefront of pioneering business ideas and innovation. As Northern England’s metropolis, Manchester is investing billions of pounds to create exciting, modern and attractive environments that will be at the vanguard of new industries. The scale of opportunity within this investment is vast and abundant.
Source: JLL – Northern England 2019 Forecast.
“In recent years Manchester City Centre has established itself as the most significant residential market in the UK with more than £1.6bn invested over the past 24 months in new purpose built private rental developments in the city centre, mainly on a forward funding basis.” – JLL
Source: JLL – Northern England 2019 Forecast.
“JLL estimates that currently up to 3,000 units are needed per year for a growing city centre population expected to rise from 55,000 currently to 100,000 by 2026. And given that delivery in the last five years has averaged less than 1,000 new units per annum, a ramp up in supply is long overdue.” – JLL
Manchester is rich in heritage, with an established economy and a multi-modal transport network, including the UK’s largest regional airport with daily flights to global destinations. Manchester is also known for its two world-class football clubs, which alone generates a vast amount of tourism and trade.
Manchester has a widely recognised cultural and lifestyle scene, hosting the bi-annual International Arts Festival (MIF), as well as the Conservative and Labour Party Conferences at Manchester Central. Manchester boasts the largest student population in Europe, with over 100,000 students, of which 8,000 are international students.
Manchester is the international business hub of the UK, it’s a city of engineers, scientists, artists and industrialists. It attracts the inquisitive, the ambitious and the innovative. Manchester is identified by overseas investors as a source of opportunity with major strategic developments.
Key international investments include; Media City UK – home to the BBC, Airport City – one of the largest regeneration schemes in the UK with Beijing Construction Engineering Group, the Cooperative’s £800m mixed use site – Noma, and the new £750m First Street development, offering a compelling blend of culture, retail and leisure.
Over the next five years, Manchester capital value growth is expected to reach 28.2% as a result of growing demand and supply. House prices in England’s north-west are set to rise by 18.1% until 2021, property advisors JLL have revealed in a recently published research paper. This data comes after a great year for Mancunian residential property, as it has already experienced a growth of 16% in capital values in 2016.
The area’s imbalance between supply and demand is one of the main reasons why the growth rate in the north-west is currently outpacing the rest of the UK. JLL predicts that, as a result of this continuing lack of supply, both rents and capital values will continue to increase drastically over the coming years. Capital value in Manchester is expected to grow by 28.2% over the next five years whilst rental prices are forecast to increase by 20.5% over the same period, (JLL February 2017).
