Manchester has been transformed through redevelopment schemes to become a top investment destination, but the revamp is continuing in key regeneration areas.
One project to look out for is the Salford Crescent regeneration proposals, with a £2.5 billion plan recently submitted that will span 29 acres of the district. Another is the MediaCityUK Phase 2 regeneration proposals, which will see the mixed-use regeneration zone double in size thanks to a £1 billion expansion. Schemes such as these have made Salford, in particular, an area to watch for prospective UK property investors.
Andrew White, Head of UK Residential & International Properties Asia at Colliers, said: “Manchester has gone through a significant transformation, including redevelopment in recent years across the housing tenure mix, so it’s only natural that it would rank highly in our analysis. In addition, we’ve witnessed lots of large corporations and government bodies moving their headquarters to the city in the last five years, such as JP Morgan, Octopus Energy and Rolls Royce, which has naturally resulted in increased demand for homes and bolstered significant house price growth in the city.
“The local authority has also been very active in welcoming developers to make changes in the city through regeneration projects such as NOMA as well as build-to-rent and single-family housing developments in the city’s suburbs, so it’s not surprising at all to see Manchester rank as our highest English city for residential investment.”
