Manchester Investment Portfolio
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MANCHESTER INVESTMENT PORTFOLIO Manchester-China Forum is delighted to be able to present this document detailing the tremendous array of investment opportunities in Greater Manchester. The Forum is a business-led initiative aimed at increasing Greater Manchester’s commercial connectivity with China. The forum is led by the following companies: The Forum would like to thank Addleshaw Goddard and Deloitte for their kind support and advice with the production of the Investment Portfolio. Photography courtesy of: Becky Lane Rick Grange Ben Page TfGM Third Edition This publication has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and it is recommended that you obtain professional advice before acting or refraining from acting on any of the contents of this publication. The Manchester China Forum, its Members and the Sponsors of this document accept no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication. Deloitte refers to Deloitte LLP, the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.co.uk/ about for a detailed description of the legal structure of DTTL and its member firms. © 2017 Deloitte LLP. All rights reserved. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 2 New Street Square, London, EC4A 3BZ, United Kingdom. Tel: +44 (0) 20 7936 3000 Fax: +44 (0) 20 7583 1198. FOREWORD It gives me great pleasure to introduce the Manchester Investment Portfolio at a time when links between the city and The People’s Republic of China have never been stronger. Since the establishment of the Manchester-China Forum in 2013, we have seen the launch of direct services between Manchester and both Hong Kong and Beijing. The latter was announced during an historic visit to the city by His Excellency Xi Jinping, which was a hugely significant moment in terms of relations between Manchester and China. It is approaching four years since we formed a joint-venture with the Beijing Construction and Engineering Group to deliver the £800m Airport City development and the partnership has proven to be a platform for Charlie Cornish further collaboration. Since the initial agreement, BCEG’s presence in the Chief Executive city has grown substantially, with the group having also invested in a Manchester Airports Group further two major regeneration projects in the city region. magworld.co.uk This is just one example of how economic links between Manchester and China are strengthening but there is clear potential to build on this work in the future, be it through growing exports, trade or tourism flows between the two locations. I look forward to seeing further long-term, sustainable relationships Mobikes being formed between Manchester and China in the years to come. This guide presents information on Manchester, a city that has I’m delighted to introduce the latest edition of the Manchester cemented its place as a leading European business location. Investment Portfolio. The ‘Manchester-China landscape’ has significantly It outlines major development opportunities, including those in the developed since the launch of the Forum in 2013. As the newly appointed planning stages and investment ready opportunities, as well as detailing Chairman of the Manchester-China Forum Board I hope to oversee many our world-class talent, and internationally renowned industry strengths. more changes in years to come. Manchester is a city of opportunity; its central location means it’s well With flights to Hong Kong daily from December 2017 and a successful connected, not only to London and the rest of the UK, but to the world. first year of the direct flight to Beijing, Manchester has never been more Manchester Airport is the largest regional airport in the UK with direct connected to China. Additionally, as this Investment Portfolio shows, flights to over 200 destinations including China, which is more than any Manchester has more to offer China than ever before. other UK airport. This document is the perfect showcase for Manchester and includes Rhys Whalley It is a city of collaborations, with academic institutions working with the many of the previous successes of collaboration with China across a David Percival Executive Director city’s public authorities and businesses to drive forward a powerhouse range of sectors. Mobike’s decision in 2017 to launch in Manchester, Chairman Manchester-China Forum economy. This has led to an environment that breeds innovation, its first city outside of Asia, is a prime example of a Chinese firm Manchester-China Forum & something which can be seen throughout the city’s history, from recognising Manchester’s openness to China and its strive to become a Managing Director investinmanchester.cn splitting the atom, to the recent isolation of graphene. more innovative, digital and green city. Deloitte China @GM_China_Forum Manchester boasts a long relationship with China with trading relations I will obviously have a bias but Manchester truly is a great place to Weibo @曼彻斯特中国论坛MCF spanning more than 150 years. It enjoys one of the earliest formed investinmanchester.cn invest. This, coupled with the unique support of the Manchester-China WeChat ID: InvestManchester civic links with Wuhan which was established in 1986 and in 2015 it Forum, makes it perfect for Chinese firms looking to the UK. celebrated its 30th anniversary. This relationship continues to evolve and strengthen. The city has further demonstrated its commitment to China by forming the Manchester China Forum. This is a business-led initiative which looks to increase sustainable commercial connectivity with China, and strengthening relationships between Manchester and China. We look forward to welcoming you to Manchester. If you have any further enquiries, please contact: [email protected] WHY At a glance Accessible Business Manchester has a great central Manchester is home to a successful MANCHESTER? location in the UK. mix of large multi-nationals and Helsinki Oslo Stockholm smaller firms, many working as part Low risk of a bigger supply chain. The cost of running a business in Edinburgh Copenhagen Manchester is as much as 40% Sector skills Belfast cheaper than in London. Specialisms include life sciences, Dublin Moscow 2D materials, ICT and energy and London Amsterdam Berlin Workforce the environment. Brussels 33,200 new graduates a year Paris (383,500 within 1 hour). Welcoming Munich Vienna Manchester is one of Europe’s most Geneva Infrastructure cosmopolitan cities, attracting both Zurich Manchester is the UK’s premier visitors and investors alike, and was multi-modal transport hub. Home to voted most popular provincial city the UK’s largest regional airport, the last year. Manchester Ship Canal (which links Barcelona Rome Istanbul the city to the port of Liverpool) and Madrid excellent road and rail links. Lisbon Athens Beijing The original business city A cost-effective city The city is centrally located, Hong Kong Manchester was the world’s first Today, Manchester is rated as meaning that 60% of all UK modern industrial city, and today Europe’s top city for business consumers live within a two hour its economy is large and diverse, competitiveness. The cost of drive of Manchester. offering businesses a deep pool running a business in Manchester Manchester has the largest of potential clients. The second is as much as 40% cheaper than commuter area of any largest economy in Great Britain, in London. Salaries are also WORKFORCE WITHIN COMMUTING conurbation in the UK outside Manchester has the largest typically 30-40% less than London DISTANCE OF THE CITY CENTRE of London, with a workforce of regional financial and professional and the cost of buying or leasing 7.2M 7.2 million people living within 50 services industry in the UK, a office space is also significantly miles of the city centre. thriving creative, digital and tech lower. Together this makes sector and the largest clinical Manchester the ideal place to An entertaining city MANCHESTER AIRPORT SERVES MORE academic campus in Europe. establish and grow a UK presence. Manchester has more theatres DESTINATIONS THAN LONDON HEATHROW It is also home to the largest than any other regional city in 200 A well-connected city commercial property market England, as well as a rich football Manchester has outstanding outside London, the largest heritage with both Manchester transport links. It is home to the Private Equity community, and is City and Manchester United UK’s largest regional international UNIVERSITY STUDENTS set to become one of the world’s based here. airport, which serves more cities top 20 digital cities by 2020. IN MANCHESTER than Heathrow, flying to over 200 99,000 A cooperative city A talented city destinations. With three trains to Greater Manchester is made up of Manchester is home to four London every hour, and a journey 10 local authorities – Bolton, Bury, universities and 99,000 students. time of just over two hours, Manchester, Oldham, Rochdale, CHEAPER TO RUN Many of these students stay in connecting to the capital is also Salford, Stockport, Tameside, BUSINESSES THAN IN LONDON the city after they have finished easy, making Manchester the Trafford and Wigan. They all work 40% their studies, ensuring that the ideal location for a European HQ. together through the Greater workforce is sustainable. Manchester Combined Authority (GMCA), the first public authority OF UK’S BUSINESS BASE of its kind in England. 60% ACCESSIBLE FROM MANCHESTER If you have any further enquiries, please contact: [email protected] MANCHESTER 1904 A region with a rich history of innovation that Frederick Royce met has produced 25 nobel laureates.