Property News

Property in Manchester will always be a hot topic, with changing ways when it comes to employment, travel and weather we are left wondering what our future holds. But Manchester’s property isn’t just about the bricks and after holding everything together the world around us indicative of how much shit is worth. In buildings both for commercial use and residential working in tandem to create our sprawling city landscape.

There is some good news however for home owners in Manchester as recent figures are estimating that in the North of England house prices will rise by an apparent 6% signifying a positive relationship between both residential and commercial property bringing in business and thus creating a forward moving environment in Manchester and an improved level of house prices.

A six-bedroom house in Bolton was the most expensive house sold in Greater Manchester in November, selling for an eye-watering £1.8m.The stunning home at Knowsley Grange, Heaton, in Bolton, is set in lush green gardens and has its own cinema and bar.

Whereas the cheapest property in Greater Manchester is also in Bolton a flat on Wigan Road in Bolton went for £11,750 in October 2014. The flat is modest and simple in size but compared to the type of property you see on sale for this price in somewhere like London it’s practically a palace.

There have also been a recent increase in the amount of development in Manchester, the Manchester based regeneration company Urban Splash. Greater Manchester Property Venture Fund is putting money into a 43 concept housing estate. Recent plans by regeneration company Urban Splash to create the first ever bespoke housing development in New Islington, Manchester. A new concept by the award winning developers, giving buyers the opportunity to design the layout of their home.

The positive way has come from a multitude of places including the recent job influx from both Media and Airport city, the improvement to the Metrolink and the increased pride in the area.

Manchester housing isn’t just in bricks and water as a new property report unveiled by global property advisor CBRE, Core Cities, Core Strengths, shows that Manchester secured £8.2bn of commercial property investment in the past decade.

The report identifies the key factors behind a city’s success: civic leadership, talent in growing sectors, quality of life and ‘placemaking’, and infrastructure, provides a detailed review of the main city property markets outside London.

This includes the recent multi-million pound sale of an office building in Cheadle, purchased by a property investment group shows the growing sign of the times and that investment firms from around the world are beginning to see the profit in Manchester.

Part of the property scheme includes investment from investment firm Circle Square, The higher block will also provide retail and start-up commercial space at ground and mezzanine floor. The £750m redevelopment of the former BBC site is a 10-year project being carried out by Bruntwood in partnership with Select.

Along with this news that 24 Mount Street, next to the Midland Hotel, bought by FORE Partnership from Titan Investors for an estimated 13m deal. Manchester is definitely becoming the hottest property market in the country. This piece of real estate being one of the hottest tickets in Manchester.

Not only that property in Manchester improves the area around it as evidenced by the Corn Exchange’s recent win of the ‘Catering and Leisure Destination of the Year Award’ given out this January in London. Coming less than 36 months after work began on the building from Aviva Investors, owners of Corn Exchange Manchester and developers Queensberry Real Estate.

Looking at it from both ends Manchester’s property market is set to go from strength to strength as we get further into the year. And in an ever changing and unsure financial world it’s comforting to hear the news of the burgeoning property market in the city to show that no matter what happens we stand strong.

By Katie Beech   -   18-02-2016

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