Phone Us

Manchester Sees £2.3bn Investment in Property in Two Years

More capital has been invested into Manchester than any other English city outside of London in the last two years, according to a new report.

More capital has been invested into Manchester than any other English city outside of London in the last two years, according to a new report.

The research, published by Cushman & Wakefield, found that Manchester had seen £2.3 billion of investment in the commercial property sector in 2014-2015. Liverpool placed second with £979 million, followed by Leeds with £958 million and Newcastle with £842 million.


Cities such as Manchester, Leeds and Liverpool are undergoing extensive structural change and are experiencing population growth, factors which are attracting new investors to these cities.


Manchester will become the northern hub of the new High Speed 2 railway that will ease access between London and the north, with the government-led initiative set to be completed by 2033.


Work on HS2 has attracted investors who hope the city’s increased transport links to the capital will help to redress the economic balance between London and the north of England, in turn attracting individuals and businesses to escape soaring rents in the residential and commercial markets.


Manchester has seen extensive new commercial property developments, such as the construction of 276,000 sq ft of office space in the Spinningfields district, attract the attention of property investors, with further development occurring throughout the city.


In the residential buy-to-let sector, demand for rental accommodation is also on the rise in the city, with millennials now looking to rent property rather than own it. There are currently a number of high profile housing blocks being constructed within the city centre and the surrounding Greater Manchester area, as developers attempt to meet the rising demand of the city’s growing population.


Manchester city centre has seen a 4,900% increase in population since 1999, with the number of people living in the area increasing from just 400 to 20,000 in 2015.


Architect Ian Simpson, who has been a part of Manchester’s ongoing regeneration plan, believes the upsurge of developments in the city will incentivise more people to live in the city centre of Manchester, instead of moving south to London.


‘London doesn’t need any more people – its infrastructure is struggling to cope. In a city like Manchester we are getting the infrastructure in place to encourage an increase in population’, said Simpson.

X
Cookies on our website:
This website uses cookies.
I'm OK with this Cookie Settings ?