Manchester is a city which is constantly changing, improving and transforming. Never content to stand still, this is a place which attracts people and businesses from around the world and make it a place like no other.
In recent years, developments including the Skyscraper District, NOMA, Mayfield and others have built on the foundations laid by Spinningfields and First Street to once again completely change the face of the city.
Now, the extensive redevelopment of the University of Manchester’s north campus will do so again with the ID Manchester project.
This £1.7bn project is a major investment in Manchester which aims to create what is described as an ‘innovation district’ between the Mancunian Way and Piccadilly Station – the main transport links in and out of the city. It is hard to image a better location for a development of this type.
The projected benefits demonstrate how pivotal the ID Manchester project could be in the city. The proposed 2 million sqft of commercial space will sit alongside 1,500 new homes and create an estimated 10,000 new jobs. By any measure, that is another substantial economic boost for Manchester.
The project is also anticipated to provide new and improved public realm spaces and much more across its 15-year development cycle which will also contribute to Manchester’s growth as an extremely desirable location for businesses, workers, students, families and everyone else.
Bev Craig, leader of Manchester City Council, said: "The Oxford Road corridor and its environs has been central to Manchester’s innovative spirit for generations – a globally recognised hub for education, innovation and research. The ethos behind ID Manchester continues that tradition, creating opportunities for the city’s emerging specialist sectors in health, advanced materials and biotech to develop and grow.
"We welcome this level of ambition to diversify and grow our economy - while creating thousands of new jobs alongside pathways to learning and apprenticeships for Manchester people to realise their potential, sharing in the success of the city."
That is the true story of ID Manchester. On its own, it is a significant project for the city which underlines Manchester’s confidence and attractiveness. However, it is only one part of an overall picture which sets Manchester apart from the competition.
The city is a huge economic success story and ID Manchester is a big step in making that success future proof. By providing the right conditions and facilities for the next generation of innovators, researchers and creators, Manchester can attract the best talent from around the world and lead the way in the years to come.
Lou Cordwell, director at ID Manchester, said: "ID Manchester marks a step change in the UK’s ambition to be a world leader in science and tech, not only supporting the UK’s Innovation Strategy, but also creating the exemplar for inclusive innovation – our values of sustainable growth, inclusivity and positive social impact will be at the heart of ID Manchester.
For homebuyers and investors, this makes Manchester the number one city to buy property in. There are nowhere near enough homes in the city and developments like ID Manchester make the existing housing stock and the high quality properties in development even more desirable.
Reports from Zoopla highlight exactly why buying in Manchester now is a good idea. The property portal’s latest reports show rental prices increasing 13% year-on-year and house prices growing at almost twice the national average in the same time period.
Want to learn more about buying property in Manchester and what makes the city so good for investors and homebuyers? Get in touch with the team today by clicking here >>
