Spotlight on Salford: MediaCityUK celebrates 10 years

Spotlight on Salford: MediaCityUK celebrates 10 years

by Georgina United Kingdom World , ,
  • 2017 marks 10 years since planning permission was granted & construction began on MediaCityUK
  • Kellogg’s to relocate its UK headquarters to MediaCityUK
  • 2% positive price change in Salford homes over last 12 months (HM Land Registry)

Over the past decade Salford has experienced enormous transformation. This year marks 10 years since permission was granted to The Peel Group to build MediaCityUK, a 200-acre property development located on the banks of the Manchester ship canal with Salford Quays, located at the eastern end becoming one of the largest urban regeneration projects in the UK.

Back in 2004 the BBC motioned its objective to move a considerable number of jobs from London to Manchester with the Salford Quays site chosen at the premier location and a few years later, in 2007, after The Peel Group was granted planning authorisation to develop, construction began on MediaCityUK.

The BBC’s move represented a significant decentralization from London and many creative and media businesses followed suit including ITV. Today MediaCityUK is home to an exciting mix of over 200 businesses including production companies, Satellite Information Services and higher education institutions such as The University of Salford.

It has also just been announced that Kellogg’s is to relocate its UK headquarters to MediaCityUK after signing a lease for 48,000 sq ft at the Orange Tower. Moving 420 jobs from the company’s current Old Trafford site in January 2018 is a strong declaration of the appeal of the Salford area and especially MediaCityUK. Adding that to the 200 new jobs announced by the BBC earlier this month at MediaCityUK as it seems that Salford Quays really does have ‘cereal’ investment appeal!

 “A decade on from granting of planning permission for MediaCityUK, we have seen the 200-acre site go from strength to strength.  The mixed-use scheme has enjoyed enormous commercial success and the relocation of Kellogg’s HQ from Old Trafford to MediaCityUK will undoubtedly be a welcome addition to the vibrant business environment, driving economic growth into the next decade”.

Jonathan Stephens, MD, Surrenden Invest

 

Indeed, the outlook for job growth within the Northern Powerhouse city is bright. 3,000 new businesses were registered in Greater Manchester in 2016 (Inform Direct Review of UK Company Formations) and Savills predicts that around 4,000 jobs are set to be created in the region over the next 5 years.

Despite its increasing popularity property in Salford is still affordable but it is not predicted to stay that way for long. The latest HM Land Registry data reported that property prices are about 10% lower than Manchester  city centre with a 6.2% positive price change in Salford over the last 12 months (May 2016 – May 2017).

“Not only a place to work and play, Salford Quays has an established residential community and is a popular choice for young professionals especially, working within the MediaCityUK site. We have seen sustained demand for homes in Salford over the past 12 months with waterside homes in high demand.

“Manchester’s thriving property market over the past few years has led to areas outside the city centre undergoing significant redevelopment. Our development, Wilburn Wharf in Salford has had no end of interest and with the Wilburn Basin, where the homes are located, falling on the Salford side of the River Irwell, investors are looking at an average price per square foot that is 30% lower than similar developments a couple of minutes’ walk away.”

Jonathan Stephens, MD, Surrenden Invest

 

Wilburn Wharf, available through Surrenden Invest, compromises of four distinct blocks which vary in height, all of which offer fantastic views across Manchester. Each apartment is built to the highest specification and the residential facilities are exceptional including a 24/7 concierge, architecturally landscaped gardens and seating areas around the river basin as well as a gym, cinema, residents lounge and meeting rooms. Prices for units in the current phase 2 start from £165,000.

 

For more information, visit www.surrendeninvest.com or contact Surrenden Invest on 0203 3726 499.

Make a splash this summer in the Venice of the North with the brand new Royal Canal Works

Make a splash this summer in the Venice of the North with the brand new Royal Canal Works

by Charlotte Ashton United Kingdom ,
  • Manchester house prices predicted to grow 28.2% by 2021 (Hometrack)
  • Around 4,000 jobs set to be created in the Manchester region over the next 5 years (Savills)
  • Up to 25% boost in house prices from the restoration of canals (Canal & River Trust)
  • Waterside living in Manchester from just £105,000 (Surrenden Invest)

Growing faster than any other city in the UK, it is predicted that house prices in Manchester will grow by an impressive 28.2% by 2021 according to Hometrack.

In addition to residential property growth, Manchester is expected to see faster office-based growth employment than Greater London and all key UK regional cities over the next five years reports Savills.

Increasing demands from a range of sectors such as media and technology are estimated to create around 4,000 jobs in the Manchester region over the next 10 years, with demand for housing also rising in line with this progression.

With one of the highest population densities outside the capital, living space within Manchester is at a premium forcing housebuilders to seek alternative areas of the city within which to build new homes.

Known as the “Venice of the North” due to its miles of canals (including the 36-mile long, 19th century Manchester Ship Canal which at the time was the largest river navigation canal in the world), Manchester holds a long and affectionate history with its waterways and now views them as pivotal to the making of the city once again.

Millions have been spent on clearing and restoring Manchester’s waterways, enabling formerly derelict canal side land to be put back into use thus creating communities with space, leisure activities and high living standards.

Indeed, a report by Dr Nicholas Falk for URBED found that the urban waterfront is a vital part of national heritage and the Canal and River Trust suggest that property values can be boosted by as much as 25% from the restoration of canals.

“Waterfront living provides welcome breathing space for people living in overcrowded communities. Living on a canal has and always will hold great appeal; the calming nature of being close to the water combined with the leisure activities available makes homes such as those at Royal Canal Works a true urban oasis.”

Jonathan Stephens, Managing Director, Surrenden Invest

Royal Canal Works, available through leading investment agency Surrenden Invest, is a brand-new canal side development adjacent to the tranquil suburb of Choltorn – one of the most sought after areas to live in southern Manchester.

A stunning contemporary collection of 43 beautifully appointed one and two bedroom apartments with private terraces and waterfront views, Royal Canal Works offers architecturally landscaped gardens and a courtyard along with secure parking and CCTV.

Being just 15 minutes from the city centre, Royal Canal Works boasts city standard living but all of the perks of life in the suburbs. The apartments are expected to be highly prized by families and young professionals who have been priced out of the city centre but are not prepared to compromise their standard of accommodation.

Apartments are available from just £105,000 with an attractive 6% NET yield. For more information, visit www.surrendeninvest.com or contact Surrenden Invest on 0203 3726 499.

Millennial Magic! Invest in this UK property hotspot with the largest millennial population outside London

Millennial Magic! Invest in this UK property hotspot with the largest millennial population outside London

by Georgina United Kingdom World , , , ,
  • Manchester is the UK’s leading regional creative talent market (CBRE)
  • Manchester homes to highest number of millennials (CBRE)
  • Growing trends from millennials for an urban waterside living (Surrenden Invest)

 

Research by CBRE has revealed that Manchester is proving to be the most sought after location for millennials.

According to the research, the collective characteristics of locations with creative success include pools of highly educated graduates, good transport links, proximity to world class universities and large populations of millennials.

The CBRE Top 25 has revealed Manchester as the leading city in the UK regional creative talent market by some margin and Home Track research found that Manchester continues to show the fastest growth rate of 8.4%, up from 6.3% a year ago. The city currently holds the largest number of millennials along with a pool of highly skilled and creative professionals, in addition it has the largest number of inventive industries.

Manchester also boasts links to several world-class universities with solid computer science and research rankings. As well as these admirable attributes, office, employment costs and earnings to average house price ratios have been found to be relatively reasonable. That is compared a number of South East locations and London.

“Here at Surrenden Invest we receive no end of interest in Manchester and this high demand does not look set to falter any time soon. Manchester is a very up and coming city full of creative flare, aspiration and opportunity – no wonder we have seen such an influx of young professionals! Millennials are taking over the Manchester market.

Jonathan Stephens, Managing Director, Surrenden Invest

 

So where are these millennials calling home within Manchester and hence, where the savvy property investors are also heading?

Jonathan Stephens of leading investment agency, Surrenden Invests, tips the newly regenerated Wilburn Basin, the point where Manchester meets Salford in the south-west of the city.

Built back in 1864, and used a mooring site on the River Irwell, the area played a key role in Manchester’s industrial heritage but as more modern methods of transportation evolved, so the area fell into disrepair. The last 3 years however have seen the three-acre deserted wasteland transformed into highly desirable waterside living with modern homes, ideal for millennials.

“We have witnessed the growing trend for urban waterside living over the past 6 -12 months, especially from young professionals looking for the perfect blend of city living and nature. Wilburn Basin adheres to this trend perfectly and was an instant hit with phase 1 of the scheme being completely oversubscribed and phase 2 selling fast as it nears completion.”

Jonathan Stephens, Managing Director, Surrenden Invest

 

Wilburn Basin, available through Surrenden Invest, compromises of four distinct blocks which vary in stories, all of which offer fantastic views across Manchester city. Each apartment is built to the highest specification and the residential facilities are exceptional including a 24/7 concierge, architecturally landscaped gardens and seating areas around the river basin as well as a gym, cinema, residents lounge and meeting rooms. Prices for units in the current phase 2 start from £165,000.

For more information, visit www.surrendeninvest.com or contact Surrenden Invest on 0203 3726 499.