According to CBRE’s latest Which City? Which Sector? report released earlier this week, Manchester has ranked as a top five city in nearly all of the sector studies – including topping the list for half of the sector studies – and further cemented its place as a global hotspot for investment and development.
Manchester has solidified its position as a global hotspot for investment and development this week thanks to consultancy CBRE’s Which City? Which Sector? report that looks at 50 of the country’s regional cities outside of the capital to determine which city ranks best for growth in sectors such as housing, retail, industrial, and life sciences.
Having ranked first in half of the studies and in the top five for the rest, Manchester has outperformed all other regional cities in the country when analysed for a variety of factors, including GDP, demographic trends, property supply pipeline, employment growth, and local universities.
“Manchester is supported by its diverse industry base, thriving retail, tourism, and hospitality sectors, strong demographic, economic fundamentals and boasts one of Europe’s largest student populations and remains a front runner for city investment and growth over the next decade and beyond.” Jennet Siebrits, UK Head of Research at CBRE.
Manchester achieved the top spot on CBRE’s ranking for growth in the office, urban logistics, single-family housing, multi-family housing, self-storage, and student accommodation categories, according to the new report, which has named Manchester as “ripe for investment”, with much of its successes down to its projected population growth.
CBRE has estimated that the number of people living in Manchester could increase by up to 6% over the next decade, which would see the city’s population of 2,791,000 reach 2,958,460 and increase by a further 16,746 per year. Along with the increase in population comes more money, and CBRE has estimated Manchester’s growth in consumer spending within the decade to additionally increase by 24.7%.
“To see Manchester outperform the other regional centres in these six key sectors is a coup for the city and demonstrates the strength and resilience of the North West property market” John Ogden, Managing Director of CBRE North.
At Beech Holdings we have always believed in the potential that Manchester has to offer its investors, residents, and businesses alike, which is why we’ve spent over two decades dedicating our resources and expertise to providing the city with luxury homes that reflect what the modern-day renter is looking for.
In our dedication to providing a tenant-centric approach to development and ensuring that all our tenant's needs are met, we have launched a new branded residential offering that is already taking bookings and is set to revolutionise what we currently understand as the UK rental market.
City Co-Living will provide a residential living experience to its residents focused on the lifestyle that modern-day renters are looking for and will provide a community for tenants to become a part of within their building – combatting the 40% of young people suffering from loneliness today.
To learn more about City Co-Living and how this brand has been created using over 20 years' worth of knowledge on the UK rental market, contact our expert team today or call them directly at +44 (0) 161 791 4600.