The Northern Powerhouse is all about regeneration, undergoing extensive regeneration and rejuvenation projects that are securing both Liverpool and Manchester’s present and future, while fortifying their respective histories.
In Manchester, regeneration is constantly underway. The £1 billion Trafford Waters development will modernise the banks of the Manchester Ship Canal, creating 5,000 jobs in the process. Developed by Peel Land and Property, the company responsible for Liverpool Waters, the area will become home to 3,000 new apartments, one million square feet of commercial and office units, a new hotel, a care home and even a new primary school. Trafford Waters aims to not just revitalise an area but imbue it with a new and modern sense of community spirit.
The Great Northern Warehouse in Deansgate is due to get a much-needed shot in the arm after years of misuse. The £300 million Deansgate development will offer 25,000 square feet of commercial space, new apartments and a plan to make the immediate area greener and aesthetically pleasing.
St John’s will be a purpose-built urban neighbourhood connecting some of the key areas of Manchester city centre together. It will see the construction of up to 3,000 homes, 320 hotel rooms, 560,000 square feet of workspace as well as 240,000 square feet of retail space.
Liverpool Waters is the £5.6 billion project that will revolutionise the city’s Dockland areas. As part of an ambitious 30-year plan, Liverpool Waters will reshape the city coastline, while bringing unprecedented amounts of brand new residential, commercial and office space to swathes of the city that have been crying out for development.
The Ten Streets development will knit together the city’s regenerated areas, linking Liverpool Waters with Bramley-Moore Dock, soon to be the home of Everton Football Club’s brand new stadium.
The Baltic Triangle is the place to be in Liverpool. It has revitalised Liverpool’s culture and nightlife, as well as offering welcome space to a slew of digital start-ups and young entrepreneurs. The Baltic Triangle is a symbol of the welcoming, diverse and multi-cultural metropolis that Liverpool is and always has been.
Across the River Mersey, Wirral Waters is a similarly ambitious scheme. At £4.5 billion and aiming to transform up to 20 million square feet of the left bank of the world-famous river, up to 13,000 new homes and 20,000 jobs are in the pipeline for the region.
Liverpool and Manchester, key components of the Northern Powerhouse, are clearly the places to invest in buy to let when it comes to property investment UK. The area already offers much in the way of high rental yields, commerce and retail, attraction to overseas investment and, as the years go by, will become even stronger as regeneration makes both cities powerful entities in the global economy.