The latest UK House Price Index has highlighted the North West as leading the UK in terms of monthly price rises, with an increase of 3.4%. The region’s economic powerhouse, Manchester, has done much to fuel the increase. Its thriving business environment is home to global head-quarters and creative businesses, with more than 2,000 foreign-owned firms in Greater Manchester, according to Invest in Manchester.
“Manchester is an exceptionally attractive environment for contemporary businesses. The city is home to a thriving professional and financial services sector, a dynamic media hub, a robust advanced manufacturing sector and much more. With 100,000 students at Greater Manchester’s universities, the pipeline of fresh talent is also considerable”
Some of the largest companies based in Manchester include motor group Lookers and Essar Oil (UK). Other big companies with a significant presence in Manchester include those in the media sector – most notably the BBC and ITV. Then, of course, there are the city’s two world-famous football teams, with Manchester United topping Forbes’ 2018 list of the world’s most valuable teams.
“Manchester United takes the top spot, worth $4.12 billion, up from $3.69 billion last year. Manchester United generated the most revenue ($737 million) during the 2016-2017 season and nearly 50% more operating income ($254 million) than any other soccer team”
The numbers speak for themselves when it comes to what drives companies to base themselves in Manchester. Operating costs there are up to 40% lower than those in London, according to Invest in Manchester. Meanwhile, Oxford Economics has stated that the level of job creation in Manchester could outpace that experienced by world-class cities including Berlin, Tokyo and Paris between 2015 and 2020.
Greater Manchester’s gross value added (GVA) stood at £62.8 billion in 2016, based on Office for National Statistics figures. Its economy grew by a staggering 42% in the decade to 2012, with job growth of 84% between 2002 and 2015, according to Centre for Cities (double the average rate for the North of England).
This diverse and thriving business community is driving up Manchester’s population, as workers flock to the city both from within the UK and from overseas. That, in turn is impacting on Manchester’s housing market in a number of ways. Not only is the city contributing to the North West leading the UK in terms of house price rises, but it is also showcasing some delightfully innovative new residential developments, such as Ancoats Gardens.
The 155 apartments at Ancoats Gardens will offer a superior standard of living in a prized location. With ceilings up to 2.7 metres high (some 0.5 metres higher than the average new build rental apartment) and floor to ceiling windows, the homes are spacious and full of light. On-site facilities are second to none, from the vast, split-level gym to the relaxing coffee lounge and attractive roof gardens.
“Manchester is in the privileged position of having superb business credentials, a global reputation and a talented and hard-working population. Add to that its myriad cultural attractions, leisure facilities and dining scene, and the city’s long-term prospects appear impressive indeed.”
To find out more about Manchester’s evolution to global city status, check out our Manchester Then and Now brochure. For ongoing updates on all things Mancunian, as well as developments in other leading regional cities in the UK, you can follow Surrenden Invest on social media.
Nestled on the edge of the River Tyne, Newcastle has a distinctive skyline, a vibe all of its own and an accent that can’t help but charm. Those who’ve visited remark on the energy and vibrancy that the city somehow exudes.
“Newcastle is one of my favourite cities to visit. From the warmth of the welcome to the inspiring architecture, it’s a real gem of a city. It’s such a pleasure to be working there to bring elegant, aspirational new homes to the city’s young professionals.”
Jonathan is far from alone in having been captivated by Newcastle. Indeed, the city has been named by Rough Guides as the best place to visit in 2018 – not just in the UK, but in the world. And with an encyclopaedic knowledge of the globe, they should certainly know!
Rough Guides has flagged up Newcastle’s cultural credentials and superb gourmet scene, amongst other things. With restaurants voted among the top in the UK and an extensive craft beer scene, the city has much to offer those who enjoy outstanding culinary experiences.
It was no coincidence that Newcastle was chosen to host the first Great Exhibition of the North this year, which will be one of England’s largest cultural undertakings. The exhibition – and the city itself – is attracting hordes of tourists.
Newcastle is also known for attracting students in their droves, again in part due to the city’s superb lifestyle offering. The latest WhatUni student choice awards saw Newcastle University and Northumbria University placed second and fourth respectively in the ‘best city life’ category.
Rough Guides has also praised Newcastle for its architectural feats. A host of regeneration projects have given the city some cutting edge buildings that both honour its industrial past and create a distinctive, contemporary city that is proud to compete on the global stage.
Now, with the city’s tallest ever crane installed over the August bank holiday weekend, Newcastle’s skyline is on track to become even more exciting. The new residential building known as Hadrian’s Tower will be the tallest skyscraper in the city, delivering 162 capital quality residences backed by exceptional shared social spaces. The development will ensure the continuance of the architectural innovation for which this stunning city is becoming known around the world.
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Regional cities are coming to the fore as hotspots for foreign direct investment (FDI). As the Surrenden Invest team has been waving the regional flag for some time, it’s great to see a host of official statistics adding weight to the value of these important destinations.
Recent reports have flagged up the Manchester-Liverpool metropolitan area as being among the top ten global cities for foreign direct investment (according to IBM) and the West Midlands as the leading UK region for rises in FDI projects and jobs created increase (based on Department for International Trade data).
“As we inch ever closer to a no deal Brexit, it’s easy to imagine the rest of Europe enjoying a quiet laugh at the UK’s expense. However, investors around the world are standing up to be counted and showing that they are interested in the UK for the long term, irrespective of Brexit. The pace of FDI reflects their confidence in the UK’s resilience and the growing importance of our regional cities.”
Two studies have recently highlighted the importance of the UK to the global investment community – specifically, the importance of the UK’s regional cities. IBM’s 2017 Global Location Trends report looked at the world’s top cities for foreign direct investment (FDI). The annual report compares metropolitan areas based on equal labour catchment areas, for a truer comparison. Using that methodology, the Manchester-Liverpool metropolitan area ranked tenth in the world for FDI, placing it in the league of cities such as London, Paris, Singapore, Amsterdam and Dubai. It beat the likes of Barcelona, Toronto and Dublin to make it to the tenth spot.
According to IBM, Manchester and Liverpool jointly pulled in the tenth highest number of FDI projects of any global city in 2017. In doing so, they created some 7,000 jobs.
“It’s brilliant to see Manchester and Liverpool rubbing shoulders with the world’s top cities. Both have undergone extensive regeneration over the past couple of decades, positioning themselves to compete globally at this level. Manchester has established itself as the UK’s creative and media hub, while Liverpool’s health and life science sectors, and digital manufacturing industry, are truly world-class.”
Foreign direct investment has not been limited to these sectors. Far from it. Both cities have enjoyed keen interest in their property sectors too, as the UK’s need for far more rental homes than it currently has available, has attracted overseas investors in their droves. Prime developments such as Manchester’s Ancoats Gardens, with its outstanding roof garden, vast 1,715 square foot gym and on-site coffee lounge, or the 381 high-spec homes at The Tannery in Liverpool, which are available from as little as £85,000, provide precisely the easy route into the UK property market that many foreign investors are seeking.
Further research by Foundation Home Loans has contributed to the sense of long-term security that investment in sectors such as buy-to-let in the UK brings with it. The company found that 18% of landlords plan to remain active in the sector indefinitely, versus just 6% who are considering exiting the buy-to-let market in the next year or two.
“What several of the latest research pieces are showing is that investors are looking to keep their money in the UK over the longer term, despite the continued blustering that we read daily about the Brexit debacle. Behind the scenes, investors are letting their funds speak for themselves.”
The second piece of research to flag up the importance of one of the UK’s regional markets is from the Department for International Trade. The study found that the West Midlands was the only region in the UK to experience a rise in both FDI projects and the number of jobs recorded compared with a year previously. These increased by 13% and 43% respectively.
At the core of the West Midlands, Birmingham is another regional city that is firmly on international (as well as domestic) investors’ maps. Again, the city’s property market in particular is charming investors from around the globe. Developments such as Westminster Works, in the city’s investment hotspot of Digbeth, offer a global standard of urban living that appeals to investors and tenants in equal measure.
“FDI in the UK is here to stay. The property market in particular has a compelling case for its long term viability. The UK can’t build houses fast enough to house its expanding population and is over a decade behind where it needs to be in terms of the number of homes. Coupled with a rise in the appeal of city centre living, this has created an excellent environment for investors from overseas who are looking to commit their funds to exciting regional cities.”
We’re delighted to be able to share full details of our latest investment opportunity – Ancoats Gardens. Interest in the project is already huge, with people already interested in investing in multiple units – and that’s just from us releasing a few snippets of information on social media. Now, we can reveal all!
Ancoats Gardens is a development of 155 high-spec apartments in the salubrious Ancoats area of Manchester. Ranging in size from one to three bedrooms, the apartments have been designed with contemporary renters in mind, so deliver something that’s a cut above other residences in the area.
The homes are filled with light thanks to their huge windows. In addition, a beautiful sense of space is achieved as a result of maximum ceiling height of 2.7 metres, some 0.5 metres higher than you find in the average city centre rental apartment. These are aspirational homes for ambitious, professional tenants who want the most from their urban lifestyle.
The shared social spaces are also superb. The on-site gym is simply huge. With 1,715 square feet dedicated to this amenity, which is so large it is spread across two floors, tenants can benefit from the latest and greatest fitness machines and regimes, all within their building. The coffee lounge is also superb and provides the perfect spot for relaxing and catching up with friends. Of course, the exceptional roof garden is another ideal place to hang out and socialise!
Investment in Ancoats Gardens starts from £229,714 for a one-bedroom apartment, from £317,143 for a two-bed and from £488,571 for a three-bedroom home. Expected net yields are in the region of 6.0%. Investments are made on the grounds of an 850-year lease.
Ancoats Gardens has already grabbed the attention of national media outlets as a result of its superb design and excellent location, which provides renters with the delightful, almost villagey feel of Ancoats, while still being just five minutes from the main hustle and bustle of Manchester.
All of which means that we’re expecting these apartments to be snapped up in record time. As such, if Ancoats Gardens sounds like your kind of investment, it’s time to get in touch!
If you want to see Ancoats Gardens as well as read about it, why not take a virtual tour? Be sure to connect with the Surrenden Invest team on social media too, to keep abreast of the latest updates on this and other outstanding investment opportunities.
The Surrenden Invest team is delighted to share news of our latest development – Ancoats Gardens in Manchester. While full details won’t be released until next week, we couldn’t help but share a few choice snippets about this exciting new investment opportunity.
“Ancoats has everything going for it as a property investment hotspot. Market forces are combining to make it THE place to focus on in Manchester right now. When it came to our latest, innovative property launch in the city, we knew that no other location would suffice! The development is going to bring a new standard of urban living to Manchester – and Ancoats is the ideal location to push forward such innovation.”
It’s fair to say that some developments are more interesting than others – and Ancoats Gardens is right up there with some of the most exciting that we’ve worked on. The apartments themselves are simply outstanding, with huge ceilings and an industrial chic vibe that is perfectly attuned to what renters in the local area are seeking. Then there are the on-site amenities. We can’t share full details for another few days, but we can say that the rooftop area is going to be incredible! We’ll reveal more later this week…
The local area is also fantastic. Over the past couple of years, Ancoats has been flagged up by the New York Times as one of the coolest places to live in the UK. On this side of the pond, the Times voted it the second coolest location in the country. So what is it that makes this area of Manchester so exciting? The expert team here at Surrenden Invest have had Ancoats on our radar for quite some time. Bordering the popular Northern Quarter, Ancoats has for some time been drawing in Manchester’s creative types, making a name for itself as the city’s most dynamic, creative district. If you want to start an energetic, disruptor business in Manchester, you head to Ancoats to do it.
The area benefits from a vast amount of home-grown talent, with upwards of 50% of Manchester’s graduates choosing to stay in the city after they leave university. The city is second only to London in terms of the percentage of the UK’s total graduates who work there, according to Centre for Cities. These talented young people have helped Ancoats to develop a distinctive vibe that sets it apart from other city centre destinations. Artisan eateries and independent coffee shops have sprung up to meet demand, creating a unique and inviting area that appeals to young professionals looking to get the most out of the urban lifestyle.
All these independent businesses and SMEs have created a fertile breeding ground for success. Deliveroo and Uber both call Ancoats home. Meanwhile the vast NOMA development – the largest regeneration site in the North West of England and the largest development in the UK outside the South East of England – is creating a superb new business and technology hub that will drive further success. The £800 million project will create a long-lasting legacy from which all those living in Ancoats will have the opportunity to benefit.
Excellent connectivity rounds off the area’s attractions. Surrenden Invest’s new Ancoats project, for example, is just a seven-minute walk from Manchester Victoria train and Metrolink station. Manchester Piccadilly, the city’s most connected railway station, is ten minutes away on foot. Meanwhile, Exchange Square and Piccadilly Gardens Metrolink stations are ten minutes and 12 minutes away respectively.
Ancoats’ myriad attractions make it a superb choice for those looking to live in one of the most vibrant and interesting parts of Manchester. And with the launch of an exciting new residential housing development just around the corner, Ancoats is about to become even more attractive…
Over the course of this week, we’ll be releasing further exciting snippets about our new Ancoats development. Follow us on social media to be the first to find out the facts!