Talk about the UK naturally leads to the Southern Capital, London. As a culturally diverse economic powerhouse, tourists gravitate towards the diverse mix of live music, fashion shows and hidden hotspots the city provides. However, as of late, London has proven that its lifestyle is an expensive undertaking. Manchester is the answer to this, with affordability driving both tourists and investors to the city.
Some have dictated Manchester to be the heart of the Northern Powerhouse and Capital of the North. Some of the reasons for these bold statements are the following:
A cultural hotspot
Manchester has reinvented itself, from previously being an industrial powerhouse, it is now a capital of the arts and culture. From establishments such as the Royal Exchange Theatre, an iconic producer of classic works, to Manchester Art Gallery, with a collection spanning 25,000 objects of both national and international importance, Manchester holds delivers a timeless experience for new and old city residents.
The city also stands at the forefront of Pride celebration, continuing to fight and lead the way for LGBTQ+ liberation. The city calls for peace and acceptance, understanding that conflict within and out of communities is rife, but with the support of allies and tourist, can make Manchester a safe space for all. Mark Fletcher, Pride CEO has said, "Our Parade message is loud and clear this year: No one is really free unless we are all free, and no one gets left behind."
An expanding population
The growing population of Manchester is a clear indication of the vitality and success of the city centre. An estimated 20,000 extra residents are set to join the city centre and surrounding areas by 2023. This will put an immense pressure on the available housing stock and is expected to push property values to new heights, creating a great environment for investors.
A Rail Revolution
Manchester benefits from multiple transportation networks that efficiently connect the Northern Capital to the rest of the UK, and world. These excellent network links, such as Manchester Airport, Piccadilly Train Station and Metrolink service drives business links and boosts the capital’s economy. Soon, Manchester is to soon benefit from a more substantial network investment, the government approved HS2network.
With the completion of HS2 high speed rail and Northern Powerhouse Rail – which will reduce journey times to London to 62 minutes as well as shorten journeys across the North respectively – Manchester’s position as a global economic hub and gateway to the UK will be consolidated and expanded.
Construction and expansion
Over the last decade, Manchester has seen a large amount of expansion as developers construct new residential homes, offices, hotels, retail units and leisure venues, establishing itself as one of Europe’s fastest growing cities. According to Deloitte Crane Survey 2022, 2021 provided a second consecutive year of record housing delivery across they survey area. In addition to this, there has been high levels of foreign direct investment (FDI) and a constant supply of new commercial developments. This has led to 1.34 million sq ft of commercial office space to become under construction, with 743,665 sq ft due to be completed within 2022.