The regeneration of Manchester

Contributed by RW Invest, 16 March, 2018

Manchester and regeneration

Manchester is a city brimming with opportunities. Why? Because of the bold and major decisions made to strike out a take the city into 'Manchester regeneration mode'. This has resulted in a region that's in great shape and is very attractive to investors of all shapes and sizes - within the UK and overseas. Spanning from central Manchester and its city centre to the outer areas, the difference is easy to see. Manchester's regeneration areas are vast, and with far too many to name here's some of the cities finest work over the past decade.

Changes

For many, the city is considered the big engine of the Northern Powerhouse, and as a region, Greater Manchester has firmly taken the reigns of regeneration and made seismic changes of the past decade. One that probably sums up the Manchester regeneration projects story best is Piccadilly Gardens. Formerly an area derelict and surrounded by abandoned buildings, the project involved private sector funding which was sourced on the basis that the scheme would stimulate regeneration in the wider area. A promise that was kept looking at development across the city and the wider region.

Towards the north of the city is the NOMA regeneration project. NOMA is a £800 million, 20-acre mixed-use redevelopment scheme backed by the Co-operative group. It consists of office, residential, retail, leisure and hotel space, and was the largest development project in the North West ahead of nationally known developments such as MediaCity UK.

In the south, between the city centre and Salford is an important part of the city's regeneration narrative - the £1.5bn project Spinningfields. The project was seen a big game-changer at the time and dubbed the Canary Wharf of the North because of its banking heavyweights including HSBC, RBS and Barclaycard. It introduced the city to 430,000 sq metres of high-end commercial, residential and retail space, and as a project, it secured Manchester's status and certainly put the region on the radar of investors.

The difference

The former wasteland that once housed Manchester's docks is now the envy of media organisations across the country and beyond. Home to BBC, ITV, dock10 and Salford University, the MediaCity UK site has been transformed into the heart of the region's creative, digital and tech community. It's a spectacular regeneration project with more than 250 businesses and 7,000 people all living, working and studying at Salford's super success story.

Manchester's regeneration areas span far and wide across the city, but in terms of actual neighbourhoods and regeneration, a great example of this is Ancoats. Dubbed the new Islington area of Manchester, it's a formerly run-down part of the city which is making the most of its amazing features - including its canals, local culture, and historical architecture. Ancoats is home to a thriving community of young professionals and families and its regeneration has helped new businesses and created prosperity in the area. You can find out more information and view properties in Manchester here at RWinvest.

2019 and beyond

But what are the future offerings? New plans on the horizon for the city and the wider region come in different forms of regeneration, and below are just a few developments that the city has in store.

In terms of the city centre district, a new fixture on Manchester's skyline will be new apartments created on the former Boddingtons brewery site. The build, known as Old Brewery Gardens, will include five residential blocks with almost 600 apartments with 38,000 sqft of commercial space, cafes, shops, and greenery.

The Salford skyline will also see more changes. And this time it's vertical, as shown in plans for 100 Greengate - the tallest building ever to be built in Salford with 44-storeys and 130 metres high. Formerly known as Exchange Court, the high-quality development of 349 homes will be made up of one, two, and three-bed apartments making Greengate a new urban neighbourhood for the city.

Looking at the wider region, Greater Manchester's Prestwich is a town's with a future filled with regeneration. And is one of six areas nominated for a revival. The development of the town will mean brand new housing, fantastic retail outlets and leisure offerings unlike anything Prestwich has seen before.

The sheer scale of regeneration that has been achieved and, what is still to come for the city as a whole, should excite any potential property investor. And for those who have already bought into what the city and Greater Manchester has to offer, this can only offer a satisfying view of return on investment and reassurance.

For information on property investment opportunities contact RWinvest on +44 (0)151 808 1250 Email: info@rw-invest.com or visit our website.

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