After Knight Dragon took full ownership of the site in late 2013, the company committed to playing the long game —this is a 25-year development —and the Peninsula is set to witness the biggest change to its landscape since the Dutch originally drained the region to use as farmland and meadows. A vibrant mixed-use pedestrianised district in the heart of the Peninsula is also home to Ravensbourne College students and acts as the gateway to The Tide, a riverside linear park.
Regent Plaza is located between Manchester City Centre and Salford Media City at Salford Quays. The site has the Chapel Street corridor to the north and Salford Quays to the South West.
Regent Road is the linking arterial route between the Mancunian Way running around the southern half of Manchester City Centre and the M62, with transport links west to Warrington and Liverpool.
Bus Stop – 1 min walk
Deansgate Station – 18min walk / 5 min drive
University of Salford – 15 min walk / 3 min cycle
Media City – 10 min cycle / 6 min drive
Manchester City Centre – 10 min cycle / 6 min drive
Spinningfields – 20min walk / 6min drive
From its rich industrial past Manchester has diversified to become the beating heart of the Northern Powerhouse. Out of the six cities within the Northern Powerhouse scheme, Manchester recorded the highest growth in GVA per head at 6.8% since the inception of the initiative. It also boasts the highest number of development plans, with £78 million in funding earmarked for culture and leisure projects in the city.
The city is well-connected with the UK as well as internationally and is regarded as a vital transport hub for the north of England. A GBP1 billion investment by Manchester Airports Group and Beijing Construction Engineering Group to expand Manchester airport will further boost the city’s appeal and accessibility.
These development plans, along with growing industries and world-renowned education and digital sectors, is encouraging a growing population. The population of Manchester’s city centre grew approximately 10% from 2014 to 2017 and is projected to grow by a further 10.6% between 2017 and 2026. Employment growth in Manchester is expected to exceed that of many international capitals, including Paris, Berlin and Tokyo, according to predictions by Oxford University economists. It is anticipated that 55,000 new jobs will be created before 2025, adding GBP19 billion Total Gross Value in the economy by 2030.
Properties in Manchester are selling fast and prices are rising rapidly. The average house price in Manchester grew by 19% from Q1 2016 to Q2 2019, demonstrating continued growth despite political uncertainty. Manchester’s rapid growth is expected to continue, with a growth forecast of 15.9% projected from 2019 – 2023.
Rental rates are also increasing, with rents forecast to increase 16.5% between 2019-2023. This is due in part to the city’s rapidly growing number of young professionals, new graduates and students flocking to the city. This community’s demand for housing, and particularly new-build modern housing, is putting upward pressure on rents. Manchester is struggling to keep pace with the growing demand for housing. While Manchester City Council has stated they aim to build a minimum of 2,500 new homes annually until 2025, it appears that supply in the city will be unlikely to catch up with demand for several decades.
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