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An introduction to the
Capital of the North
SEPTEMBER 2022
INVEST IN MANCHESTER INVEST IN MANCHESTER
WELCOME TO
Manchester
FAST FACTS: “Manchester’s size makes the social
Manchester processes more visible. You can see
how things are developing. Where
REGION: North West England
they might end is another matter.
POPULATION: 2.8 million1 Perhaps it’ll be the first place to
Once an integral part of Britain’s Industrial
DISTANCE FROM LONDON:
show us whether our new cities
Revolution, today Manchester remains one of
Europe’s most important and fastest-growing 200 miles/322 kilometres (2-hour direct train work. Manchester, as the ‘Mancs’
cities. link; 1 hour 11 minutes with HS2) love to tell you, is ahead of the
Known as the ‘Capital of the North’, the ‘Northern Powerhouse’ INTERNATIONAL AIRPORT:
game.”3
and more recently, ‘Manc-hattan’, Manchester’s skyline is
Manchester is the UK’s third-busiest airport,
evolving as rapidly as its economy and population.
carrying close to 30 million passengers per
Jim McClellan,
year, with 54 airlines flying direct to over 200 PRINCIPAL LECTURER IN JOURNALISM AT THE
destinations worldwide2 UNIVERSITY OF WESTMINSTER
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INVEST IN MANCHESTER INVEST IN MANCHESTER
With mass regeneration, global investment With a population rising at twice the rate of
and high-profile projects taking place, this the national average, the time to invest in
is just the start of Manchester’s growth. Manchester is now.
It’s also a city with one of the most in- Everything is in place for the city to remain
demand – and undersupplied – property one of the strongest places to buy property
markets in the UK. in Europe.
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Alan Turing
People That
Mathematician that was a key figure in the
development of computer science, helping
to create one of the world’s very first
Changed the
computers.
World
Manchester is also the birthplace of influential
figures in the history of science, technology and
politics:
Today, the presence of these historical figures can be felt across
Emmeline Pankhurst
the city with poignant memorials and tributes.
Named by Time magazine as one of the
100 Most Important People of the 20th
Century9, Pankhurst was a pioneer of
Britain’s suffragette movement.
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A City That
Connects the World Manchester
Singapore
13 hours
Cape Town
14 hours
41 minutes (currently
1 hour 25 minutes)
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High-Speed 2 (HS2)
The UK government’s GBP 106 billion high-speed
railway will form the backbone of the UK’s transport
system and is the most important economic
regeneration project in decades.
A prime beneficiary, Manchester will become a major hub on the HS2
line with two stations - one at Manchester Piccadilly train station and
one at Manchester International Airport.
The result?
z Journey times from Manchester to London will be cut to just 1
hour 11 minutes by 2032
Major
Investment
Projects
A number of high-profile projects are
currently underway in Manchester.
Funded by national government and global
institutional investors, these projects are “[HS2] will act as a catalyst for growth
transforming Manchester.
and help level-up the country, boosting
Improving connectivity. Attracting global investment.
growth in the Midlands and North. Better
Creating more jobs. And making Manchester an even more
attractive place to live. connectivity opens-up new employment and
leisure opportunity for millions of people.”
- HS2.ORG14
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Manchester International
Airport Expansion
A major transport hub connecting
the North of England to the world is
undergoing a major expansion.
It means:
z 40,000 new airport jobs will be created in 30 years
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Economic Growth
Leading the UK and 14%
Manchester’s economy is
Europe forecast to grow by over 14%
between 2022 – 2026
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A Fast-
Expanding
Economy
Manchester’s economy grows at a faster
rate than the UK as a whole
50% A Global
graduate retention rate from
Manchester’s universities, adding
new workers to the city’s workforce Business
Hub
each year17 Over 2,000 foreign-owned companies
19
have a base in Greater Manchester
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Population
— Manchester City Council, 2022
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A Centre of Education
Manchester is home to one of the largest student populations in Europe, with
the second highest graduate retention rate after London.
This is playing an integral role in the performance of the graduates every year22.
city’s economy and property market.
Crucially, the demand to study in Manchester is
Over 100,000 students attend universities across increasingly international. One in four students in the
Manchester, producing around 36,000 high quality city are now from overseas.
3 4
1. University of Manchester 2. Manchester Metropolitan University z 60% graduate retention rate in Manchester - the
highest in the UK outside London.26
Among the UK’s top 10 universities23, with Modern university with one of the UK’s largest business
11,000 non-EU students24 schools z In addition, 36% of students originally from
Manchester return to live and work in the city each
year
3. University of Salford 4. Royal Northern College of Music With more of these students remaining in (and returning The University of Manchester has also
Public research university with close research to) the city to work, Manchester’s property market is in
A world-leading music school, with history dating
constant demand from this expanding demographic of
seen a 55% rise in Chinese students
links with MediaCityUK back to the late 19th century
tenants. since 2013. 25
24 25
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IN FOCUS:
And with ‘no end in sight’ for its supply and demand imbalance, the growth is just
beginning. A population rising at twice the rate of the national average; a thriving job
market; and one of the most competitive residential offerings in the UK, Manchester is
a city attracting tenants from all over the world.27.
by the City’s
increasingly in demand as
a city, as young people are
priced out of the capital
Young Tenants
and businesses look to
north-shore parts or all of
their offices.”30
LOUISE EMMOTT,
HEAD OF NORTH WEST
RESIDENTIAL AT JLL.
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6%
6%
Region Rental growth in a year
5%
5%
4.5%
4.5%
4.5%
4.5%
5%
1. Manchester +23.4%
4%
4%
3 .5%
4%
2. Chatham, Kent +21.4%
3%
3%
3. Liverpool +19.4%
2%
UK Average (outside London) +11.8%
1%
London +15.8%
0%
2021 2022 2023 2024 2025 2026
THE
Worlds’
have seen Manchester’s property market and
global reputation go from strength to strength in
recent years.
Post pandemic, JLL reported on a boost With eight residential developments in our
in demand for both rural living and Manchester portfolio, we are one step ahead in
urban areas.
understanding what the city’s renters are looking
The result? ADAM PRICE
for – prime location, premium amenities and a
Chief Executive Officer,
People are looking for the best of both worlds - ‘cities
luxury living experience.” Select Property Group
with a village feel.’31
“Having elements of a rural life in urban villages with a combination of green Given the city’s current performance and exciting future growth projections, there is no
spaces, outdoor markets, shops, cafes and restaurants has been proven to enhance doubt that Manchester property is one of the most rewarding assets in any investment
portfolio. Our proven model in times of wider uncertainty demonstrates the resilience of the
community cohesion and improve the wellbeing of those living there.” UK property market, which is why investors globally choose Select Property time and time
again.
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Residential
Affinity Living
Embankment
West CitySuites II
CitySuites I
Investment
Affinity Living
Riverside
Printworks
Victoria Bridge Bus Stop Centre for Chinese
Corn Exchange
Hotspots
University of Salford Contemporary Art
Exchange Square
Manche ster
Riverview
a wider metropolis.
Castlefield
Manchester Oxford Road
Train Station
Mace Convenience Castlegate Bus Stop
Store
Deansgate General Store
Select Property have sold over
GBP 800 million worth of property
Mancunian Way Highway
in Manchester alone.
Manchester
Metropolitan University
St. Wilfrid’s RC Primary
St Philip’s C of E Primary
Royal Northern College
of Music
SelectProperty
University of Manchester
32 33
Trinity C of E High
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Manchester’s Future
the cost of living, in the prime rental
market we have seen a continuation
Growth Projections of strong rental growth, given an
ongoing imbalance between limited
supply and strong demand across a
wide range of tenant groups.”
Strength of the UK
Property Market
36 37
INVEST IN MANCHESTER
References
1 http://worldpopulationreview.com/world-cities/manchester-population/
2 https://www.caa.co.uk/Data-and-analysis/UK-aviation-market/Airports/Datasets/UK-Airport-data/Airport-data-2019/
3 https://confidentials.com/manchester/30-great-quotes-about-manchester-from-emmeline-pankhurst-to-noel-gallagher
4 Global Liveability Index, 2022
5 Time Out Magazine 2021
6 Manchester Evening News, 2022
7 https://www.mirror.co.uk/sport/football/man-utd-claim-billion-fans-18955448
8 http://www.timeoutbeijing.com/features/Blogs-Music_Blogs/158656/Oasis-star-to-play-Beijing-in-August.html
9 http://content.time.com/time/magazine/article/0,9171,991250,00.html
10 https://www.manchestereveningnews.co.uk/news/greater-manchester-news/more-more-tourists-discovering-how-14948125
11 https://www.investinmanchester.com/dbimgs/BFPG%20Manchester%20Soft%20Power%20Entrepreneur%20Report.pdf
12 https://marketingmanchester.com/state-sector-tourism-valuable-sector-greater-manchester-economy-says-marketing-
manchester-boss/#:~:text=Greater%20Manchester›s%20tourism%20sector%20is%20worth%20%C2%A37.9%20billion%20
and,and%20108%20million%20day%20visitors.
13 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1051209/hs2-phase-2b-
western-leg-crewe-to-manchester-an-update-on-the-strategic-outline-business-case.pdf
14 https://www.hs2.org.uk/why/connectivity/
15 https://www.avisonyoung.co.uk/
16 http://www.manchester.gov.uk/download/downloads/id/27153/state_of_the_city_report_2019_whole_document.pdf
17 https://residential.jll.co.uk/insights/research/residential-forecasts-northern-england
18 https://www.gchq.gov.uk/section/locations/manchester
19 https://www.investinmanchester.com/sectors
20 https://www.manchester.gov.uk/info/200088/statistics_and_intelligence/2162/economy#:~:text=Key%20
statistics&text=Between%202017%20and%202018%2C%20Manchester›s,were%2022%2C850%20enterprises%20in%20
Manchester.
21 https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/bulletins/annual
midyearpopulationestimates/latest#local-population-change
22 https://www.investinmanchester.com/why-manchester/education/universities
23 https://www.timeshighereducation.com/world-university-rankings/2019/world-ranking#!/page/0/length/25/locations/GB/sort_by/
rank/sort_order/asc/cols/stats
24 https://www.manchester.ac.uk/discover/facts-figures/
25 https://www.investinmanchester.com/dbimgs/FINAL%20COPY%20The%20China%20Dividend%20-%20Two%20Years%20In-
ilovepdf-compressed.pdf
26 https://www.savills.co.uk/research_articles/229130/308587-0
27 Source - Quarterly Manchester Report, Urban Bubble, 2021
28 https://urbanbubble.co.uk/
29 https://www.theguardian.com/business/2022/jul/14/private-rents-in-uk-reach-record-highs-with-20-rises-in-manchester
30 https://aboutmanchester.co.uk/60495-2/
31 https://www.jll.co.uk/en/trends-and-insights/research/uk-residential-forecast-2022-2026
32 https://www.timeout.com/coolest-neighbourhoods-in-the-world
38
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