Manchester has once again been named the UK’s top tech city outside of London. CBRE’s latest “UK Tech Cities Report” sees the city retain its position at the top following previous reports in 2017 and 2019.
The UK’s top 15 tech destinations were ranked to inform decision making for both occupiers and investors. Birmingham was placed second in the rankings followed by Glasgow at third place. Liverpool, which is also in the North West of England, was placed 12th.
Every market across the country was scored and ranked based on a number of factors including access to skilled talent, availability of office space, proximity to institutions providing high quality tech education, cost of living and cost of employment.
Manchester’s position was strengthened by its office market size and access to a high-quality workforce. The city has long been established as a hub for creative industries, with 5,725 tech companies located in Manchester - higher than any other regional city in the country. The majority of Manchester’s tech occupation is located in either MediaCityUK, Salford or The Northern Quarter in the city centre.
John Ogden, Manchester Manager Director CBRE said: “An important factor in Manchester’s appeal to tech occupiers is the presence of world-class educational establishments, most notably The University of Manchester’s Department of Computer Science, the birthplace of the modern computer. An ability to tap into a highly skilled graduate population has been a key driver for many multinational software and data companies in their decision to locate in Manchester. Notable examples include Cisco (Didsbury) and IBM (Sale).
“Looking ahead, Manchester seems well placed to maintain its position as the UK’s pre-eminent tech city outside of London. New developments such as Manchester Goods Yard and Bruntwood SciTech’s development of Circle Square have attracted global attention with companies such as ROKU and Cloud Imperium recently taking space.”
Manchester’s tech scene is spread across a large range of different sectors in the industry. The BBC’s decision to move around half of its operations to the city back in 2011, has had a far-reaching effect on the city’s media landscape. As well media, online retail is also extremely strong in Manchester. The city has been highly successful in generating successful start-ups. In 2014, two unicorns from the region conducted IPOs - Manchester’s fashion retailer Boohoo.com, and Bolton’s electronics retailer AO.com.
Mike Gedye, head of tech sector vertical, CBRE, said: “Across all cities, the UK tech sector has seen significant growth over the last decade and shown it is far from being a fleeting trend – but here to stay.
“Resilience over the pandemic period has proven to investors that venture capital funding into the UK tech sector will deliver success. Tech companies are now more than ever competing for the best talent and post-pandemic have broadened their horizons in hiring a more distributed workforce and will drive a new era of regional tech demand. The regionalisation of the tech sector beyond London and the South East will also be critical to sustain the UK’s ability to innovate and compete on the global stage.”
With the news that Manchester has once again been named the UK’s top tech city outside of London, there’s no doubt that it offers a superb property investment opportunity.
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