Invest in Manchester

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MANCHESTER

London OfficeThe Podium 1 Eversholt Street London NW1 2DN

Head OfficeHastingwood Park Business Centre, Wood Lane Birmingham B24 9QR

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Manchester is in the North-West of England and is considered by many to be the UK’s second city behind the capital, London. It is a city of national cultural and economic importance.

The city is the heart of the Greater Manchester region which is bordered by the Peak District to the East and the Liverpool City Region to the West.

INVEST IN... MANCHESTER

POPULATIONThe population of Manchester stands at approximately 520,000. Between 2004 and 2014, Manchester Local Authority saw its population grow by 16.9% - almost double the UK average of 7.8%. The population of the city is expected to grow to 600,000 by 2030 (Greater Manchester Property Investment Guide 2016).

600,000

STUDENT POPULATION - 69,945University of Manchester = 38,590 Manchester Metropolitan = 31,355Manchester University boasts the largest single-site universityin the UK, with the biggest student community. The Universityis ranked 41st in the world, 8th in Europe and 5th in the UK andhas been home to 25 Nobel Prize winners to date.

• Manchester is one of the fastest growing cities outside of London both in terms of population and economy. The movement of people from London to Manchester is now a recognised long term trend.

• Manchester is the 14th most sustainable city in the world, based on measures in people, power and profits by the Arcadis Sustainable Cities Index.

• Manchester is the UK’s third most popular tourist city in the UK after London and Edinburgh.

• Manchester is the European City of Science for 2016, reflecting its history as being the crucible of the industrial revolution and the city which split the atom, created the programmable computer, birthed the world’s first “test tube baby” and isolated Graphene, among many other achievements.



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INFRASTRUCTURE Manchester’s transportation network is vast and varied,

fully integrated and efficient. Highlights:

• Manchester Airport – The busiest airport in the UK outside of London. Flights go to destinations around the world from California to China. £1bn is being invested in the Airport over the coming years, further solidifying Manchester’s status as a business and tourist hub.

• Metrolink – The tram system is the UK’s largest tram network and is set to improved further in the near future with the completion of the St. Peter’s Square works and the Trafford Park Line extension, the latter of which will provide direct access to Port Salford.

• Road network – Major roads and motorways give residents of Manchester access to all major cities in the UK, North and South.

• Rail network – Manchester has a comprehensive rail network which runs locally (for instance to Stockport), regionally (for instance to Liverpool), and nationally (Manchester is a two hour train journey away from London).

• Cycling – The ‘Better By Cycle’ project includes joining up cycle routes, making them safer and getting more people cycling. This project is expected to be completed in 2017 and the overall aim is to ensure 10% of all journeys made in Manchester are made on bicycles by 2025.

In addition, the following are also either confirmed or possible at some point in the future:

• Ordsall Chord – A small addition to the Manchester innercity rail network which will remove a bottleneck through the city and allow trains from the Airport and Liverpool to travel through the city without stopping.

• HS2 – Faster journey to London and Birmingham. There ha also been talk of folding this into the ongoing expansion of Piccadilly Station, however this has met with serious opposition and is in no way a done deal. For one the University of Manchester has objected very strongly due to the ongoing noise issues it would cause as well as the vibrations from heavy construction work disturbing some extremely delicate equipment on campus.

• Piccadilly Gardens – The Gardens can currently be described as an eye sore at best. Nobody likes them and there is a groundswell of public support to have them revived as somewhere people want to spend time.

Whether the Gardens are returned to being actual gardens or the space is turned into a proper public square without a massive wall across it, it is likely that changes will occur sooner rather than later.

• Smart Motorway – The M62 to Leeds is set to become a fully ‘smart’ motorway over the next decade, reducing travel time between two Northern economic powerhouses and making the journey more amenable to commuters.



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HOUSINGThe average price of a property in Manchester is £162,532. Thisaverage price represents a 6% increase over 2015 and a 7%increase over the pre-financial crash value in 2007. This alsocompares favourably to an average house price of £144,914across the whole North West.

JLL predict that house prices in Manchester will continue to rise by over 5% a year (over 20% by 2020) and this is borne out by the continuing imbalance between supply and demand in the city combined with its growing stature as one of the best places for young people to live. Hundreds of dwellings are built in Manchester every year but the rate at which developments are completed is not close to the level required – this is estimated to be at least 3500 new homes a year.

The average rent in Manchester is rising in line with the property market and the average yield for a BTL landlord in the city is circa 6% per year.

In addition to all the private developers, such as Knight Knox,building new dwellings, it is worth bearing in mind other sources of funding such as the Greater Manchester Housing Fund - £300m earmarked to get difficult or underfunded schemes off the ground instead of letting them fail.

EMPLOYMENTManchester is going from strength to strength in terms ofemployment. Massive investment in the city from home (theGovernment) and abroad (China, for one) as well as thecontinued growth of the city as one of the UK’s foremosttechnology, media and communications hubs ensures that jobs continue pouring in.

The average weekly wage in Manchester is currently £485.20and the employment rate stands at around 70% which is highfigure when the city’s large student population is taken intoaccount.

However it must also be remembered that the benefits of thenew industries are not reaching everyone. Manchester is hometo some of the most deprived areas in Europe as well as having a massive homelessness problem which shows no sign of being solved.

Real Estate

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