New master plan sets Salford Quays on track become the ‘South Bank of the North’
- Salford Quays aiming for 3.4 million visitors per year by 2017
- Property prices up 12.34% in 2 years (Zoopla)
- Stunning waterfront investment property from £126,000 (Property Frontiers)
London’s South Bank is a world famous tourist destination that exemplifies how much can be achieved when businesses join together to promote an area under a single brand. Now, Salford Quays in Greater Manchester is mirroring the South Bank’s approach, with ten companies joining forces in an ambitious master plan to turn the area into ‘the South Bank of the North.’
Salford Quays has already undergone extensive regeneration and transformation work, which has resulted in the area being one of the North of England’s most attractive and enticing areas to live. The plan to create the South Bank of the North will see further improvements undertaken thanks to the combined efforts of a consortium of businesses including the BBC, ITV, Manchester United Lancashire County Cricket Club, the University of Salford and local councils.
The aim is to attract some 3.4 million visitors to the area annually by 2017, generating income of £340m. The improvements undertaken as part of the plan will focus on water quality, positioning Salford Quays as a hub for water sports. Parking and transport links will also be improved.
It may seem an ambitious target, but Salford Quays isn’t stopping there. The Destination Management Plan actually runs to 2025 and covers further improvements to areas as diverse as water quality, accessibility and wildlife.
“What makes these plans particularly exciting,” explains Ray Withers, Chief Executive of leading property investment firm Property Frontiers, which offers buy-to-let accommodation in the area, “is the fact that Salford Quays is already an excellent place to live. The Lowry Theatre and massive Lowry Outlet shopping mall are top destinations for locals and the Imperial War Museum North, plus the Banksy chimp that was discovered last year add a lovely cultural offering.”
Just 15 minutes from central Manchester by train, Salford Quays also provides easy access to the city for those looking for even more leisure and entertainment options. The area is also packed with restaurants, coffee shops and bars, as well as enjoying stunning views across the water.
Naturally all of this regeneration work has driven up property prices, with Zoopla recording a 12.34% increase in the last two years. The future plans will no doubt continue this trend, which is why demand for investment property in the area is so strong. Withers comments,
“Salford Quays looks set to be one of the UK’s most exciting property investment destinations this year. It’s got everything that professionals and their families want – plentiful employment opportunities, great cultural facilities and world-class entertainment options. With so many people looking to rent, rather than buy, investors in buy-to-let accommodation in Salford really are set to enjoy a fantastic opportunity.”
With such detailed long-term plans in place, Salford Quays is clearly an area that is determined to be one of the UK’s leading cities for quite some time. Those wanting to be part of its future can invest with Property Frontiers in the new released Custom Quay development, where apartments start from £126,000 with 6.5% expected yield and management options available.
For further details, visit www.propertyfrontiers.com or call the team on +44 1865 202 700.