Manchester is one of the most innovative and forward-thinking cities in the UK, constantly evolving and attracting interest from around the world. It comes as no surprise then, that there are a number of exciting projects planned throughout Manchester over the coming years. Regeneration projects throughout the UK are a fantastic way to boost the economy, bring new worldwide interest, and attract investors from around the globe. So what can we expect when it comes to Manchester projects over the coming years?
A new city centre neighbourhood is set to hit Manchester with the £1.35 billion investment scheme, St Johns. St Johns will be based near Manchester’s Spinningfields area and will bring a number of new homes, jobs, leisure attractions, and amenities to the city. Elements of the new St Johns development will include striking new interlinking towers and the £110 million Factory Theatre — a new cultural gem that will bring new interest to the city’s already thriving arts and culture scene.
Manchester is already home to a large population of students and young professionals, but projects that generate more business opportunities and bring new points of interest to the city are sure to increase the population further. Recent research shows that more people are moving to Manchester from London, with a record number of London leavers in 2017. Those moving from London to Manchester are likely drawn in by the chance to take advantage of the same type of opportunities there are in London, but with a much more affordable cost to live and buy property in the city.
For property investors in Manchester, the influx of London leavers is particularly good news as it means that the already high demand for property in the city is expected to grow further. The number of young professionals, students, and graduates in the city has led to Manchester being one of the youngest cities in the UK, ranked the youngest city outside of London in 2017. Manchester has recently gained a name for itself as a go-to city for property investment in the UK, with property companies like RW Invest offering some fantastic opportunities with attractive yields reaching highs of 9%.
Other regeneration projects in the pipeline for Manchester include a transformation of the Islington and Ancoats areas of the city, creating around 830 new homes and generating new business opportunities for the city’s residents. This project aims to give the area an update whilst still maintaining the beautiful existing features such as the area’s historic architecture and canals. Manchester’s Piccadilly train station is also due a revamp, with the inclusion of a tree-lined boulevard that will stretch towards Travis Street, and a new HS2 terminus on a new Metrolink stop. Piccadilly will also include the creation of a huge apartment plot, with shops and offices. Other stations Oxford Road and Manchester Victoria are also set to see regeneration, whilst transport will improve as a whole in Manchester under the Northern Rail Initiative’s plans for improved transport in the city and better connectivity throughout the North.