Up-and-coming areas for Manchester property investment - 2021
Manchester is one of the UK’s most popular places to invest in buy to let property. A region teeming with economic, cultural and social activity, it’s a hotbed for development and, as part of the Property Alliance Group, we know exactly where the best up and coming investment opportunities in the city lie.
Through our own rigorous market analysis, we’re able to keep our finger on the pulse of this fast-growing pocket of the UK property market and spot emerging potential in areas that have previously slipped under the radar for investors.
Thinking of investing in Manchester property? We've identified five up-and-coming areas of the city where rental demand is set to reach new heights in 2021.
Mayfield
This characteristically Mancunian industrial quarter is currently subject to one of the most exciting transformation plans in the heart of the city. Mayfield will be dramatically reshaped over the next decade with £1.4bn worth of investment into the area helping to turn the vision of a world-class, mixed-use urban neighbourhood into reality.
The redevelopment of Mayfield is still in its early stages with project conceptualisation and planning a hot topic in the open public forum. With a stream of exciting investment opportunities on the way, it is clear that Mayfield is a contender for the title of Manchester’s next big thing.
Mayfield will become a central residential, social and retail hub just minutes from the city’s biggest train station and Manchester’s first new public park in a century, while retaining much of the red brick industrial architecture that’s such an important part of its make-up.
Piccadilly East
A short walk from Mayfield you’ll find the Piccadilly East district. Having only welcomed its first residents in 2020, this brand-new neighbourhood is just a stone’s throw from Piccadilly train station and the bustling city centre. This long underutilised urban zone has been reimagined and is set to become one of Manchester’s most sought areas for wannabe locals and shrewd investors.
With hype growing around Piccadilly East, it’s fast become a leading visionary project that’s changing the face of the city centre. With its unrivalled transport links and bags of opportunity right on its doorstep, the location is an attractive prospect for those looking to experience contemporary living and all the city has to offer, while climbing the career ladder.
Piccadilly
Neighbouring Piccadilly is going through its own phase of sustained investment with a number of affordable and luxury apartment blocks springing up to help meet intense demand for housing stock in the city centre.
Alliance’s Oxygen development is a prime example of this. The 32-storey luxury mixed unit apartment block, which comprises 12 townhouses and 369 apartments, is the latest addition to the Piccadilly skyline and has helped to lay the foundations for future development.
Close to Oxygen you’ll find the popular Urban Exchange retail hub. While adjacent, the 10.5-acre Central Retail Park plot, snapped up by Manchester City Council in 2017, is in line for major redevelopment. Bringing together urban living with commercial and outdoor space, the project will contribute to the area’s new identity as a vibrant metropolitan neighbourhood.
From rack and ruin to renter’s location of choice, seemingly overnight, Ancoats has emerged as Manchester’s trendiest neighbourhood and a gold standard example of what concentrated investment combined with clear vision can do for an unloved location.
Ancoats has a vibrant, youthful scene that is close to (yet far enough removed from) the city centre, with many independent bars, eateries and cafés tucked down its side streets.
The area is also home to a tight-knit community of creatives and start-ups who’ve taken up residence in its clutch of revived industrial mills. And, like many of its small businesses, Ancoats has been able to carve out an exciting reputation from the ground up.
Castlefield
Manchester’s property market is flooded with history but few sections more so than Castlefield on the city’s south-west side. The cornerstone for those looking to invest in Manchester, the area has a lot going for it and is a central focus of the city’s property boom.
Former textile houses reshaped or fitted out for residents, offices and collective arts space pervade a small community feel and unique urban lifestyle next to the famous and idyllic ship canal. While its distinctive cobbled walkways lead to high-class restaurants in Spinningfields, or the Museum of Science and Industry a little closer to home.
Earmarked as the location of choice for Manchester’s skyscraper quarter, Castlefield continues to grow, and in a big way. Luxury canalside developments such as Excelsior, Castle Wharf and the 20-storey River Plaza sit close to the iconic Deansgate Square and Elizabeth Tower, which have redefined the city’s skyline, infusing modern character to this venerable side of the city alongside the neighbouring Beetham and AXIS.
Manchester’s property market continues to flourish and developments are only going to court more attention as up-and-coming areas gain momentum. We want you to be here when they do and profit from the city’s exciting future.
Speak to us for more details on how you can invest in Manchester’s up and coming buy to let property investment areas in 2021.
