With Manchester close to being the next Silicon Valley, property investment is booming
- Manchester is home to 52,000 tech workers (Wired)
- 40% of office space enquiries from the tech sector (Colliers International)
- New Northill apartments situated in Manchester’s premium destination to work, live & invest (Properties of the World)
There seems to be no stopping Manchester as ever more businesses move into the city. The latest Savills ‘Manchester Office: Market Spotlight’ report has revealed that the city has seen a 20% increase year-on-year in the take-up of office space with experts believing that this expansion will result in significant employment growth over the next five years.
The growth opportunities are primarily the result of the ongoing Northern Powerhouse initiative which is supporting growth in different sectors across Manchester, particularly the tech industry.
“Things are changing fast in Manchester, giving the city the very real potential of becoming the next Silicon Valley.”
Jean Liggett, CEO, Properties of the World
According to Wired, Manchester is already home to almost 52,000 tech workers, the largest tech workforce outside London, with the fourth-highest digital turnover in the UK at £2.9bn (Tech City UK).
Mayor Andy Burnham pledged his commitment to creating a world-leading tech hub and a growing number of tech start-ups are already snapping up office space around the city – 40% of business enquiries for space are coming from the tech industry according to Colliers International.
Indeed, this digital tech growth potential of Manchester is due to be further enhanced by the major expansion of the BBC recently announced. MediaCityUK, already the BBC’s second home in Salford Quays, will welcome 200 new employees this year. In addition, Indian company, 42Gears, which specialises in professional mobile software is setting up a European technology and innovation base in Manchester city centre.
“Interest in Manchester is growing stronger and stronger as the city enjoys a bright economic outlook. Savills has predicted Manchester to be in the top 5 fastest growing cities from 2017 to 2021 which in turn is boosting demand for housing and investment properties which we, through our wide portfolio of opportunities, are able to answer.”
Jean Liggett, CEO, Properties of the World
Properties of the World’s most recent addition to its Manchester portfolio is Northill. Situated right in the heart of the tech hub that is Salford Quays, it is in the premium destination to work, live and invest. Perfectly placed beside the waterfront, all 1, 2 and 3 bed apartments will be furnished with high quality furniture packs as well as fitted kitchens. Facilities will include a landscaped communal garden and an on-site gymnasium to further enhance the rental experience for tenants.
The luxury residential apartments are priced from £109,995 with assured returns upwards of 6% NET.
For more information, visit http://www.propertiesoftheworld.co.uk or call +44 (0)20 7624 5555.