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Liverpool vs Manchester Regeneration

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    Liverpool vs Manchester Regeneration: Which City Has Been Transformed More?

    With property prices stagnating in London and an increasing number of investors, entrepreneurs and businesses beginning to ‘north-shore’ and move their prospects upwards, Liverpool and Manchester have quickly risen to the top as two of the best cities currently available as options in the property investment landscape.

    Both initially part of the government’s Northern Powerhouse initiative and both Northern Powerhouse cities in their own right, Manchester and Liverpool are among the best places to look for high rental yields, capital growth potential, and affordable property pricing.

    Plus, with plenty of regeneration plans in the pipeline, these two cities are sure to be investment hotspots in England and the UK for years to come.

    Both of these cities have come a long way in recent years, again now at the front of the pack in terms of investment choices for those interested in the UK buy-to-let property market, but which of these cities has been affected more by regeneration, and which has been affected the most positively?

    For comparison, here is a look at Liverpool vs Manchester regeneration, with some thoughts on which might be best for you if considering an investment in the north of the UK.

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      The Success of Manchester Regeneration

      Manchester’s plentiful and extravagant regeneration projects over the past 20 years have been in part spurred on by the tragic Manchester city centre bombing in June of 1996.

      Doing significant damage to areas such as Shambles Square and the Arndale Retail shopping centre, the event put plans in motion to rejuvenate the area, as well as innovating on top of it with modern and forward-thinking buildings, student/residential housing and architecture to improve the city.

      Manchester property investment is extremely exciting, and that’s in large part thanks to some of the incredible developments and projects that have happened (and are continuing to happen) within the city itself. Here are a few prime examples.

      Again, drawing the sphere of influence and power away from the south and giving property trends in northern cities the opportunity to have a greater impact in the broader population, MediaCityUK has provided the Salford area of Manchester with a huge digital hub that has become a massive draw for young people, students and entrepreneurs wanting to work in a digital sector.

      As expected, property with ease-of-access to this state-of-the-art facility is in high demand from those who want to potentially work there, and so if you’re an investor with property in the surrounding area, it’s a huge bonus.

      Today, of course, MediaCityUK is home to the television studios of the likes of BBC and ITV.

      With direct opportunities for the students of Salford University to get into this industry, it’s no surprise that Manchester is a popular student city – with one of the biggest student populations in the entirety of Europe.

      In terms of regeneration for the future, MediaCityUK is a great place to be within the vicinity of if you’re a student/residential property investor seeking to benefit from surrounding growth.

      Peel group recently revealed that they had successfully secured £292m worth of funding to go into the construction/expansion of the hub over the next ten years.

      The £800 million NOMA scheme is one of the most notable and impressive developments to happen in Manchester, with a handful of amazing buildings and projects seated just north of the heart of the city centre.

      Aimed at attracting more businesses and enterprises to come to the area and inspired by San Francisco’s SOMA, the space includes notable buildings such as One Angel Square and grade II listed Hanover Building, which is undergoing renovations to give the stunning architecture a new lease of life while allowing it to stay within the city.

      For an investor looking at Manchester, projects such as NOMA are incredibly reassuring and promising, as they support the flow of employees into the city via job opportunities, making property investment more viable and, again, more profitable, too.

      With the North West generally receiving much more investment and promise going forward, there are also investment projects within the Greater Manchester area that make the city an exciting place to be in and around.

      The £1.4bn Mayfield regeneration project, for example, which aims to transform the 30-acre piece of unused land behind Piccadilly station into a large park for urban residents to escape to, something that the urban landscape doesn’t really have in terms of green space to get away from the hustle and bustle.

      These plans indicate that regeneration in Manchester shows no signs of slowing down, and that there’s always something interesting and innovative being added to the already multifaceted city by developers.

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      The Success of Liverpool Regeneration

      Following a £1 billion investment into Liverpool’s Economy and growth in 2004, the city has been developing extravagantly into the culture-rich, forward-thinking city that it is today.

      Events such as the 2008 Capital of Culture and the naming of the Albert Dock as a UNESCO World Heritage site (with the largest collection of Grade I listed buildings in the entirety of the UK) have secured the city as a keystone city on the global map, and modern building developments in the city (such as the Liverpool Ropewalks regeneration, for example) and the cultivation of a digital sector in the Baltic Triangle have solidified it as one of the most pioneering cities in the country with its eye firmly on the future.

      As an investor rooted in the area watching these projects take off, it’s incredibly exciting, and potentially fruitful financially. Again, here are some key points of regeneration interest within the city.

      Forming the central commercial retail district in the heart of Liverpool’s city centre, Liverpool ONE has become a must-visit spot in the city and often where many begin when visiting.

      Since opening post-regeneration in 2008 (the same year that Liverpool was named the European capital of culture), the hub has provided facilities such as a cinema, bars, restaurants, and many high-street giant retail stores for shopping opportunities.

      With a modern, open-plan design, the area acts not just as a collection of excellent retail stores but also as a jump-off point into the many varying sectors the city offers.

      Only a short walk away is the Albert Dock, again with plenty of different attractions (from museums to music venues, etc.), and just another walk in the opposite direction will set your sights on the business district, which has plenty of exciting Liverpool property investments in the pipeline.

      A city known for its rich football heritage and legacy, Liverpool attracts thousands upon thousands of visitors each year just for the beautiful game, with legendary Premier League sides Everton and Liverpool sharing the city in a fierce rivalry that is only matched by their combined disdain for Manchester football clubs.

      The latest stadium development plans are for a new Everton ground. Known as Bramley-Moore Dock Stadium, the new site will replace Goodison Park and relocate the Merseyside Blues to a state-of-the-art waterfront venue.

      Not only will the park have better seating and a fan area outside of the ground, but facilities inside will compete with the best that the football world has to offer, all while retaining the historic, classic look and feel of the city with its respectful architectural design.

      In terms of current world champions Liverpool F.C’s regenerative effect on the city of Liverpool, their home ground at Anfield is constantly growing and expanding in order to encompass and include new fans that are desperate to watch the team play and the season ticket waiting lists are years long at this point.

      The stadium expansion and growth have spilt over into the community surrounding the ground, too, with retail and fan experiences, cafés, bars, restaurants, and community centres all feeling the benefit of the team’s success.

      Speaking on football’s success and its impact on the city of Liverpool, former Mayor Joe Anderson said in the news when Liverpool won the Champions League in 2019 that it would be worth around £150 million to the city in terms of tourism and growth (and that’s coming from an Everton fan!).

      Again, from an investment standpoint, this just goes to show the effect that some of the cultural surroundings can have on a property, its demand, and ultimately its value.

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      Liverpool Vs Manchester Regeneration – Which City Is Better?

      Review our Comparison below:

      Both Liverpool and Manchester property trends have their own benefits and reasons why you would want to go with them as a property investor.

      However, that being said, which of the two cities offers more in terms of regeneration for the future?

      Both areas are evenly matched,  with Liverpool and the UK’s ‘second city’ of Manchester offering some of the best market data in the UK.

      Liverpool and Manchester have huge rental yields of (early 2023), with massive future growth potential of 11.7% by 2027.

      Moreover, factors such as Manchester’s centrifugal MediaCityUK hub right outside of the city centre make it still a stellar and affordable alternative choice to the likes of London when it comes to property investment, and both cities should be considered carefully by the investors looking to secure themselves a long-term, growing investment strategy.

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        With offices throughout the North West, and a vast track record portfolio of developments throughout both Liverpool and Manchester, from new builds to unique retrofitted buy-to-let properties, we at RWinvest have an unparalleled level of knowledge and expertise when it comes to the buy-to-let property market in these areas.

        If you want to know what to expect when investing your capital into the future of Liverpool and Manchester property trends or have a specific query relating to Liverpool Vs Manchester regeneration, do not hesitate to get in contact with us today.

        You can get the latest buy-to-let properties for sale in Liverpool and Manchester from only £38,950 today.

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        Reece Pape

        Reece Pape is a property writer at RWinvest. Utilising up-to-date property statistics and data, Reece aims to keep investors informed on the latest market developments.

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