British broadcasting giant BBC has announced that they plan to move more key jobs and programmes out of London and into their hub at MediaCityUK in Salford. Having already relocated 1,800 jobs in 2011 from London to the North West, the BBC said the most recent move, “represents a top-to-bottom change” to make the business more reflective of the UK as a whole.
As part of a wider strategic operation known as ‘BBC Across the UK plan’, entire departments and news divisions will be moved across the country, most notably to Salford, which is already home to some of the BBC’s longest-running programmes and platforms, such as CBBC/CBeebies, BBC Sport, BBC Breakfast, and the BBC Philharmonic.
The BBC’s 22,000 employees were notified of the significant change last week, with the BBC claiming this move will be its biggest transformation in decades. The plan to diversify the corporation will see BBC Radio 3 and BBC Radio 6 Music being broadcast from the north, with more than 50% of their broadcasting hours coming from their Salford hub. The hit BBC One daytime programme Morning Live will also be broadcast from Salford all year round, as they begin to tailor BBC One for audiences in Yorkshire, the North West, and North East. These changes would mean that from 2022, BBC One’s entire live output would be broadcast from Salford, making it the only channel in the UK to do so.
As the BBC continue to diversify their locations throughout the UK, more than 26 departments will take residence in Quay House and likely expand into the other commercial buildings currently being developed on-site as part of Media City UK’s £1 billion expansion. With over 7,000 people currently working in MediaCityUK, the continued expansion of the site will see the demand for residential living in Salford Quays and the surrounding areas significantly increase.
Whilst a number of developments were built in readiness for BBC’s first move to the area back in 2011, these buildings are now almost 12 years old and no longer reflect how modern renters want to live. With over 250 businesses operating out of MediaCityUK, more and more young professionals and students are attracted to the area and are therefore looking for new, state of the art residential buildings to live in.
According to Deloitte, 2020 saw the number of residential schemes in Manchester increase by 45% compared to the previous year – despite the industry as a whole operating under various lockdown restrictions due to the pandemic. Throughout the past year, the construction sector has remained open, propelled forward due to consistent, if not increased levels of demand from people wanting to buy new homes both for investment and personal use.
At Beech Holdings, we have been aware of MediaCityUK, Salford Quays, and the surrounding area as a great investment hotspot for several years, and our most recent development – Weavers House, offers investors the chance to capitalise on the growth of the area.
The first development within a brand-new master plan neighbourhood called Cross Quays Square, Weavers House is a private gated community, made up of 30 beautifully crafted boutique apartments, at the gateway to Media City and Salford Quays. Situated along a tree-lined boulevard, with a Metrolink station 10 metres from the front door, Weavers House is not only a great location for those working and studying in the Media City area, but it also offers unrivalled connectivity to Manchester City Centre and beyond.
For investors, Weavers House offers all the benefits of owning property without any of the hassles of being a landlord. All apartments come fully furnished to the highest specification, with assured returns of 7% NET, projected capital growth of 3% per year, and full management included.
If there was ever a time to invest in Media City and Salford Quays, this would be it. Get in touch with our team of expert property consultants today to find out more.
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