MANCHESTER MANCHESTER
A year of delivery Manchester Crane Survey February 2019
A year of delivery | Manchester Crane Survey 2019
Contents
Contents 01 The report 02 Key findings 03 Development snapshot 04 1. Residential 05 2. Office 10 3. Student accommodation, education and research 14 4. Hotel, retail and leisure 17 Development map 20 Development table 21 Endnotes 32 Contacts 33
01 A year of delivery | Manchester Crane Survey 2019
The report
What? A report that measures the volume of development taking place across Central Manchester and Salford and its impact. Property types include residential, office, hotel, retail and leisure, student accommodation, education and healthcare.
Where? Central Manchester and Salford.
Who? Developers building new schemes or undertaking significant refurbishment of the following size (minimum) = office – 10,000 sq ft, retail – 10,000 sq ft, residential – 25 units, education and healthcare – 10,000 sq ft, leisure and hotel schemes > 35 rooms.
When? Data for the Crane Survey was recorded between 13 January 2018 and 11 January 2019.
How? The Deloitte Real Estate team in Manchester has monitored construction activity and committed pipeline development across the city and has carried out field research. This research has been verified with industry contacts and in-house research teams.
02 A year of delivery | Manchester Crane Survey 2019
Key findings
14,480 residential units under Anticipated level of residential construction during 2018 is delivery over the next 3 years double than that under is due to exceed the previous construction during 2016 10 years combined. (6,963 units)
Significant investment in the Corridor Over 25 per cent of office Manchester has resulted in over space under construction is 1.1m sq ft of education pre-let, a significant step up and research space under from 2017 (10 per cent) construction.
31 schemes completed during 85 per cent of office space 2018, comprising 16 residential under construction is developments, 6 offices, new build grade A space. 5 hotels, 2 education facilities, 1 dining venue, and 1 multi-storey car park.
The total number of schemes under construction increased by 34 per cent compared to 2017.
03 A year of delivery | Manchester Crane Survey 2019
Development snapshot
i e or are e o a ive er of e e der o r io e ide ial i o le ed
13 Office A i i a ed re ide ial i 9 d e o o le e Hotels
3 Education and research 3 Student residential 1 Retail and leisure 4 1 Other es ent al
er of e ar New completions Office space in 2018 under construction 31 2,070,897 sq ft 201 (535,100 sq ft is pre-let) 2 201
9 201 Office floorspace 2,129 hotel 2 200 under construction rooms currently 21 vera e 200 201 has increased under construction. by 0.5m sq ft 840 hotel rooms compared to last year were completed in 2018
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1. Residential
For the third consecutive year, the residential sector has been e ide ial develo e a ivi y i rea e e ee a d the main driver of the record levels of development activity in i Manchester, clearly evidenced by the large number of cranes visible on the city’s skyline. 48 residential schemes were on site in 2018, up from 41 in 2017, and these are set to deliver an impressive 14,480 units. 3,345 more units are under construction compared to the same time last year and the projected delivery over the next three years is greater than the total number of residential units delivered between 2007 and 2018.
Based on 2017’s construction figures, it was reasonable to assume that new construction starts and the growth in this sector may have been subdued in 2018. This expectation was compounded by an anticipated period of economic and political uncertainty due to is is 30% i re se et ee 01 01 Brexit. Crane Survey 2019 data evidences ongoing investment in the residential market, with 5,733 units commencing construction on 23 new sites in 2018. i der o r io
New starts during 2018 included:
•• Embankment West , Select Property Group (503 units) •• Mount Yard, FEC (136 units) •• Elizabeth Tower at Crown Street, Renaker (664 units) •• Crusader Mill, Capital and Central (201).
Manchester c ty centre Sa r c ty centre
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evelo i e yli e all ildi A ove ro d evel 200.5m
169m 158m 140.5m
118m 121m 110m 110m 110m 89m
Manchester Angel Oxygen Affinity CIS Beetham Deansgate Town Hall Gardens Tower Riverview Tower Tower Square
Density and scale continue to typify residential construction activity. i der o r io y area Large schemes form the majority of the construction pipeline with 000 17 schemes set to deliver more than 350 units each. The pattern of tall buildings being delivered around the inner ring road is now 000 taking shape and making a significant impact on the skyline, with nine schemes of over 25 storeys at various stages of construction. 000
000 2018 was also a landmark year for completions in the residential
sector. In total, 2,569 units completed, the highest level since 2006 u er un ts 2 000 and 1,317 units more than in 2017. These figures were bolstered by the completion of several build-to-rent schemes in Ancoats and 1 000 New Islington, including Manchester Life’s Smith’s Yard and Sawmill Court, Mulbury The Astley. A further five schemes were completed in 0 Sa r C ty rthern Manchester S uthern Salford, including Slate Yard Wharf and Middlewood Locks. centre r n e er hery arc
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Salford city centre is the location of a cluster of residential Looking ahead, completions in 2019 are projected to exceed 5,500 developments with 1,299 units delivered and seven new starts units before rising above 7,500 in 2020: this will have a significant in 2018. In total, 5,963 units are under construction, meaning impact on the residential population in the city centre. Assuming two that Salford has overtaken neighbouring areas as a key residential residents per unit, based on residential delivery from January 2016 growth area and recorded the highest level of completions in to December 2018, the population within the study area has already 2018. The Chapel Street corridor has been a major contributor, increased by 12,000 and is set to increase by a further 28,400 by with schemes such as Chapel Wharf and The Crescent under the end of 2021 and therefore in excess of 100,000. This population construction. The Salford University campus masterplan, plus growth will require services and amenities to support it, some of further phases of development at Greengate, mean that this which are already planned as part of emerging neighbourhoods, area has significant further potential, supported by improved such as new education and health facilities at Great Jackson Street, connectivity with Manchester City Centre. and a new park at the heart of the Mayfield masterplan.
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o la io er area rre o la io a ed o ra e rvey da a
o la io er area
00 e e Sa r c ty centre rthern r n e Manchester er hery C ty centre S uthern arc
00 e e 00 e e Sa r c ty centre Sa r c ty centre rthern r n e rthern r n e Manchester er hery Manchester er hery C ty centre C ty centre S uthern arc S uthern arc
A i i a ed o la io er area y Due to residential growth, the city centre, especially to the north and the east, has now extended well beyond the inner ring road, a physical boundary that for many years has defined the Crane Survey research area.
00 e e Sa r c ty centre rthern r n e Manchester er hery C ty centre S uthern arc
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o le ed e e i a o elsewhere, representing a 3.8 per cent increase in the city centre
2 000 and 6.5 per cent elsewhere over the two-year period. There are higher value sub-areas within the city centre, with Deansgate and Spinningfields averaging £1,339 p/m for a two-bedroom 1 00 property, and New Islington at the lower end of the scale averaging £917 p/m.2 1 000 Considering affordability, the average salary in the city centre 3 u er un ts 00 is £28,558. Assuming a target average spend of 30 per cent of gross income on rent, in line with Manchester City Council’s Affordability Framework, this equates to an affordable rental 0 Salford C ty Spinningfields/ rthern S uthern Manchester value of £713.5 p/m per person. However, most two-bedroom centre e t an r n e rc er hery apartments are shared between couples or a pair of young professionals, and this increases the affordability of even the higher end of the rental market for this particular demographic. Two-bedroom units constitute 58 per cent of the units under construction to 2021, with apartments making up the entire The delivery of residential properties in the city is now coming market save for ground floor townhouses and schemes too broadly into line with the average target specified in Manchester’s small for our survey. Conscious of the perceived uniformity of Core Strategy (2012) and is beginning to catch up with successive accommodation options in the city, a fact demonstrated by the years of undersupply against targets between 2009 and 2017. limited number of families in the city – just over 100 children The appetite for city centre residential development is unlikely lived in the Deansgate and Piccadilly wards in 2016, emerging to waiver; with the city centre identified to provide a further regeneration areas are seeking to deliver more diversity in terms 10,000 new units to contribute toward the 201,000 net additional of the types of units and tenures. For example, the Northern dwellings required across GM between 2018 and 2037 identified Gateway and the Great Ducie Street Framework areas will include by the draft Greater Manchester Spatial Framework (GMSF)4. lower density blocks and family housing, as well as high quality public realm, providing another option for those looking to remain There are approximately 14,600 units with planning permission in the city. This traditional family housing is likely to be delivered within our survey area at present and moving forward, we in areas outside the current Crane Survey boundary, such as may see schemes move away from a focus on build-to-rent Northern Gateway and East Manchester. apartments for sharers to provide co-living options or a variety of apartment typologies to appeal to different demographics, Looking at rental values of property, the average price for a including down sizers. There is clearly more capacity for growth two-bedroom property in March 2016 was £945 per month (p/m) based on the number of extant permissions, but how they and £688 p/m outside the city centre. At the end of 2018, average physically manifest themselves beyond 2021 is likely to change values were £981 p/m in Manchester City Centre and £733 p/m and further diversify the rental market.
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2. Office
With 2,070,897 sq ft of floorspace under construction across Office floorspace under construction 13 schemes, 2018 was a busy year for Manchester’s office sector. The amount of floorspace under construction is 37 per cent up on 2017 activity and significantly more than the pipeline of 1.5m sq ft per annum between 2015 to 2017. The increase in volume under construction is also due to three years of strong activity in the sector, resulting in the continued delivery of schemes that commenced back in 2016 and 2017. This is reflected in the relatively low completion figure of 450,000 sq ft delivered during 2018. 1.5m sq ft 2.1m sq ft Alongside a strong year for the construction pipeline, the city experienced a flurry of high profile deals and occupier Office development pipeline announcements both in identified regeneration areas and the city 1 00 000 core. This is testament to the city’s resilience at a time of broader economic and political uncertainty. Major deals included HPE at Circle Square, Booking.inc and The Farm at St John’s, WeWork at Dalton Place, HMRC at 3 New Bailey, and Amazon at Hanover 1 200 000 House. To continue to attract commercial investment, create new jobs and retain talent, the supply of Grade A floorspace needs to be maintained, along with the strong delivery of residential units in the city. 900 000 S t
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10 A year of delivery | Manchester Crane Survey 2019
Annual gross value added (GVA) for the city of Manchester Whilst the number of new starts was lower than in 2017, the scale increased between 2011 to 2017 from £14.5bn to £19.5bn due and quantum of new commercial office development increased, mainly to the drive in business services operating in the city, GVA both in terms of height and scale of floorplates, reflecting an for the city centre is now 29.5 per cent of the total for the Greater appetite in the market for new builds over refurbishments. Other Manchester area. This will continue to increase as Manchester new starts include: and Salford generate further demand for prime Grade A office floorspace. •• No.1 and No. 2 Circle Square: the first commercial blocks of this major regeneration site New starts made a large contribution to the total floorspace under construction, with ten new office schemes starting on site in 2018 •• Brazennose House: major development due to deliver part of the due to deliver 1,541,797 sq ft. These are spread across the city, with Lincoln Square masterplan four in the city core, three in Salford, plus the Manchester Goods Yard in St. John’s. This new space is a result of strong pre-let activity •• Two New Bailey: office block delivering Grade A space as part of and long-term strategic regeneration plans. In addition, three New Bailey in Salford. further schemes (Old Granada Studios, Bonded Warehouse and ABC) are being delivered at St. John’s by Allied London and are part All seven of the office schemes that completed in 2018 were of larger mixed-use schemes that also include studio space for the refurbishments of existing buildings. In 2017, 28 per cent of creative, digital and media industry as part of the Enterprise City the office floorspace under construction was to refurbishment initiative. schemes. In 2018 this figure dropped to fifteen per cent, with only one new office refurbishment scheme under construction Office floorspace under construction as more new build schemes are brought forward. Despite this, refurbishments remain an attractive choice for operators, 00 000 demonstrated by Amazon’s decision to take 90,000 sq ft of space 00 000 in the refurbished Hanover House.
00 000 Hanover House is an important part of the £800m NOMA development. Growth in the northern quadrant of the city centre 00 000 will start to spread the spatial distribution of Grade A office S t 00 000 accommodation across the city, helping to create a competitive destination for inward investment, retail and leisure. It will also 200 000 act as a catalyst for the development of areas for the next wave of residential growth in New Cross, Northern Gateway and Great 100 000 Ducie Street. 0 Sa r C ty centre St hns S uthern arc
11 A year of delivery | Manchester Crane Survey 2019
New office starts per survey
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Positivity continues outside of the Survey area: The Hut Group demand. With the change of occupier market, the product has (THG) committed to the delivery of the first phase of a new one also changed to include quirky fit-outs with an emphasis on more million sq ft campus as part of Airport City, which is designated as and better breakout spaces to improve collaborative working and a key employment area for Manchester. Major office deals reported moving away from the more corporate offering at Spinningfields. in 2018 were by creative, media and tech sector occupiers, taking over the lead role from financial and legal service occupiers who Although current data on the office market is encouraging, were previously the sector driving office development in the city. the pace of Brexit negotiations is weighing heavily on business There are now 82,300 creative sector jobs based in the Greater sentiment. According to Deloitte’s latest CFO Survey6, the mood Manchester area5. among Chief Financial Officers became more pessimistic about the long term impact of the UK leaving the EU, ranking it as the biggest This change demonstrates the diversification of the job market in threat to business in the coming year. Confidence among CFOs has, the city, the increasing attractiveness of Manchester as a location in fact, fallen to the lowest levels in two years, with only 12 per cent for this sector, and the long-term efforts that have been made by saying that now is a good time to take risk. Manchester City Council to promote economic growth and retain talent. This is likely to intensify as St. John’s and the Enterprise City initiative continue to progress over the next five years, providing a range of smaller SME-type occupancies to larger more conventional floorplates for established occupants, and revisiting some parts of the masterplan to deliver additional commercial space to meet
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i e o i i
Net % of CFOs who are more optimistic about the financial prospects of their company than three months ago 0 0 0 10
M re t st c M re 10 0 0 0
ess t st c ess 90 2011 1 2011 201 1 2012 1 201 1 201 1 201 2012 201 1 201 201 1 201 1 201 201 201 2010 1 201 2010 200 2009 1 200 1 2009 200
To put the sentiment about Brexit into context, 54 of the FTSE 100 companies have cited Brexit as their principal risk or the cause of broader risk around market and economic uncertainty. Only one identified climate change as their principal risk. Deloitte’s Annual Report Insights 20187 shows how the largest businesses are managing the challenges they are currently faced with.
Nonetheless, based on the pipeline supply under construction and scale of deals in 2018, Manchester has so far remained resilient despite Brexit uncertainty. This is helped by the growth of tech businesses in the regional centre. The efforts to position the city as a go-to location for growth sector occupiers are now being realised, and further high profile new office starts are anticipated in 2019 in areas such as Circle Square, NOMA and St John’s.
13 A year of delivery | Manchester Crane Survey 2019
3. Student accommodation, education and research
Student accommodation The University of Manchester has the highest percentage of Following limited construction activity in 2017 after the completion international students in the UK (25 per cent), and as many as 180 of Vita’s second Manchester site at Circle Square, three new nationalities are represented on campus. These students tend to purpose-built student accommodation schemes commenced seek out higher value, catered facilities with high-end amenities in 2018. Vita has started on their second Circle Square site; and in the city centre close to campus, which has further driven the work on two tall buildings have commenced, Unite Student’s New demand for this type of offering from Vita and Downing. Wakefield scheme and Downing Student’s River Street scheme. Together these schemes will deliver 1,794 new bedspaces. With 100,000 students attending university in the region, Greater Manchester has one of the largest concentrations of students in While these purpose built student accommodation products Europe and provides the city with an enormous supply of new will target different price points, they respond to the demands graduates each year across a wide range of subjects who can of Generation Z students for high quality, well-managed contribute to future economic growth. Supply of high quality accommodation in central locations, requirements which are accommodation is an important factor that continues to attract entirely consistent with the build-to-rent model designed for life students to the city. post-graduation.
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14 A year of delivery | Manchester Crane Survey 2019
Education and research On the University of Manchester campus, the Henry Royce The profile and status of its higher education institutions positions Institute has now commenced construction. ‘The Royce’ will house Manchester as a magnet for talent. Both Manchester Metropolitan state-of-the-art equipment and facilities that will enable advances University and the University of Manchester continue to invest in across a wide range of areas, including 3D printing of biomedical campus improvements and new facilities. materials, and self-heating coatings for buildings. Close by, work on the mammoth Manchester Engineering Campus Development The collective investment by Manchester Metropolitan University, continues apace and is due to be delivered by the end of 2021. This the University of Manchester and associated research and will provide another world-leading research and state of the art development schemes has resulted in an outstanding year for education facility. Corridor Manchester. Two new schemes started in 2018, with 1,134,458 sq ft of floorspace currently under construction. This Other campus improvements include the completion of two is testament to the work that has been carried out over the Manchester Business School projects and University Green, past ten years to position Oxford Road Corridor as the centre of providing 11 new retail units at the heart of the campus. Significant Manchester’s knowledge economy. projects have taken place to continue the enhancement of Oxford Road Corridor for all users. These include public realm improvements at Brunswick Park and completion of the Oxford Road Corridor Bus Priority Scheme which has also improved the d a io a d re ear develo e i eli e Oxford Road campus for pedestrians and cyclists. 1 000 000 The Graphene Engineering Innovation Centre (GEIC) was delivered in 2018 and provides space and facilities focused on improving 00 000 the commercial prospects of Graphene and drive UK innovation in materials technology.
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Investment in GEIC and the Henry Royce Institute has provided With 100,000 students attending university physical assets contributing to the vision of Graphene City® – a community of over 200 leading 2D materials scientists and in the region, Greater Manchester has one engineers that will itself become an international research and of the largest concentrations of students development centre. This will focus attention on attracting investment and innovators from around the globe and further in Europe and an enormous supply of new cementing Corridor Manchester as an international location for graduates across a wide range of subjects research, innovation and collaboration. each year who can contribute to future At Manchester Metropolitan University, work started in 2018 economic growth. Supply of high quality on a new Arts and Media Facility to replace the Mabel Tylecote building, which is due to open in 2020. In December 2018, accommodation is an important factor that planning permission was approved for the £35m School of Digital continues to attract students to the city. Arts (SODA). Programmed for delivery in 2021, this new building will provide learning and training facilities that will help to meet the demand in the city for skills from tech and creative sector businesses, 69 per cent of which say they are struggling to recruit highly-skilled workers across the digital, media and creative Henry Royce Institute 8 industries. 160,000 sq ft
Further education also has a role to play in the success of a city by attracting and retaining talent, and in particular to develop the skills of young people in the region. Manchester College, recognising the opportunity provided by the consolidation of its campuses and location in the vicinity of future employers for its students, is searching for a city centre site. This should have benefits for not only immediate locality of the final site but also the city as a whole.
Arts and Media Facility 135,000 sq ft
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4. Hotel, retail and leisure
Hotel 840 new bedspaces were completed in 2018 across five schemes. The number of new hotel rooms currently under construction in This is the highest number of rooms delivered on record and the city has reached a record level, with 2,129 new bedspaces in demonstrates the capacity and appetite for new hotels in the the delivery pipeline. Compared to 2018 figures, this is an uplift city. The significant step-up in delivery rates reflects the maturing of over 900 bedspaces, and 1,300 more than the average annual tourism sector in Manchester. The majority of hotels in the city are construction rate since 2008. The pipeline remains strong moving classed as 4-star (3,800 rooms), and 3,100 are 3-star. Several new into 2019 with new starts anticipated including the new QBIC hotel hotel brands now operate in the city, expanding the city centre’s at John Dalton House. hotel portfolio to include Hotel Indigo, AC Marriott, Crown Plaza and Stalybridge Suites In total nine new hotels are under construction: four of these schemes are within the city core, two are located within NOMA This growth is in part due to the strength of the business visitor and the Northern Gateway and one within the Southern Arc. economy, with Manchester’s Convention Bureau positioning the A further two schemes are still under construction that city as a world-leading conference destination. In 2017/18, commenced development during the course of 2017 and are due 29 conferences took place (of which 20 were international) worth to complete in 2019, taking the total number of rooms in the city an estimated £26.7m for the local economy9. Additionally, the centre to over 10,000. number of passengers arriving in Manchester from the current top 20 global business destinations has gone up from 200,000 in June 2017 to 350,000 in June 2018, representing an additional 1.8m journeys per annum.
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ravel o a e er Air or fro o i e de i a io Looking ahead, there is a sense of optimism in the region about tourism, as we can expect to see the start of the expansion at three Manchester museums in 2020 and the phased opening of RHS Garden Bridgewater, Europe’s largest garden project. There remains a strong pipeline for hotels, with many further new entrants to the market now in possession of planning permission for major developments.
Retail and leisure The Green at Circle Square, the only new leisure scheme that started in 2018, will provide retail and leisure use as well as an exhibition and event space to support the wider office, student accommodation and hotel development being delivered or planned as part of the Circle Square masterplan. a e er There are no standalone retail schemes in construction; however, continuing the trend reported last year, there remains a consistent a e er level of retail and leisure floorspace under construction, with 310,470 sq ft in 2018 compared to 316,661 sq ft in 2017. This space will be delivered as part of office and residential schemes and will Manchester Airport has also added new weekly routes, with new provide retail units and leisure space designed to service a new direct services among others to Mumbai, Tel Aviv, Malaysia and population. This type of use is an essential component of high Los Angeles. International connectivity will be further bolstered density residential neighbourhoods in the city and an important by the opening of the first new passenger pier in spring 2019, one part of placemaking in commercial and mixed use schemes. This of the first major infrastructure phases to be delivered as part of has been the case in Ancoats and New Islington, where new food Manchester Airport’s £1bn transformation programme. and beverage openings and announcements have taken place in 2018, predominantly by independents. This has established the 2019 is likely to be a strong year for tourism in the city given the area as a destination in its own right, with residential delivery in this addition of new air routes, a high profile conference calendar, plus area reaching its highest level to date and Ancoats being named by the Manchester International Festival taking place in July, bringing Timeout in 2018 as the 13th ‘coolest district in the world’. with it international attention to the city’s cultural scene. This year may also see the commencement of work on the Factory project, Across Manchester City Centre, 2018 saw a raft of new restaurant which will provide a world-class cultural venue and a permanent openings from established London brands and Manchester-based home for the festival in the new St John’s quarter. independents, including The Ivy, Mana, Tast and Dishoom.
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Although the market is demonstrating strength in terms of new In spite of weaker consumer sentiment across the UK, hotels, restaurants and leisure openings, levels of disposable Manchester’s food and beverage independents have used this income nationally fell by eight per cent one quarter, which is the opportunity to take advantage of the demand for quality and sharpest drop since the Deloitte Consumer Tracker started in 2011. experience. New businesses have positioned themselves in central This is linked to an unexpected rise in the rate of inflation in August locations and new neighbourhoods, alongside Manchester’s strong and real wage growth remaining modest by historical standards. creative and digital sector, forming an integral part of Manchester’s Alongside this, announcements of retail and leisure closures were attractive lifestyle offer. frequent throughout 2018 as the sector underwent structural change as a result of changing spending habits. Some of Manchester’s most complex and large-scale development sites are acting as temporary leisure destinations as part of Net % of consumers who said their level of confidence has branding and placemaking programmes. Mayfield continues to i roved i e a ree o position itself as an evening and weekend venue, while St John’s and NOMA have hosted events over several years, helping to 0 embed these areas in the fabric of the city. The rise of meanwhile
2 uses, the expansion of independents in the face of general consumer trends, and the growth of residential are all essential for ensuring that Manchester continues to attract and retain young people, who will be key to future economic growth.
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Development map
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Development table
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
City core – Under construction
1 Motel ONE and Wilde Alliance Hotel 590 rooms Q4 2021 Dual-operated hotel block replacing Peterloo House, which Aparthotels, 3 St. will be split between 328 rooms operated by Motel ONE and Peters Square 262 studios and one bedroom aparthotel units operated by Wilde Aparthotels. The latter is part of the StayCity brand.
2 Unite Student, New Unite Student Student 603 units Q2 2020 32-storey student residential development with ground Wakefield Street Residential floor commercial space arranged in 5-10 bed clusters with shared kitchen facilities and some studio flats.
3 Vita, Circle Square Select Property Student 384 units Q4 2019 Vita Student’s 18 Storey serviced apartments, including (Building 9) Group Residential residents hub.
4 MSCP and Hotel, Circle Bruntwood Hotel 150 hotel rooms, Q2 2020 18 Storey building with a multi-storey car park of 1,100 Square 1,100 parking spaces and a hotel of 150 beds. Including an array of spaces commercial uses, office space and leisure facilities.
5 Affinity Living Block Select Property Residential 266 units Q4 2019 17 storey block comprising 266 apartments in a 17 storey 1, Circle Square Group building with a range of communal residential facilities. (Buildings 7 and 8)
6 Affinity Living Block Select Property Residential 411 units Q2 2020 Development comprises 411 apartments in a 36 storey 2, Circle Square Group building with shared lounge areas, co-working spaces, gyms (Buildings 5 and 6) and private entertainment spaces.
7 No. 1 Circle Square Bruntwood Office 154,914 sq ft Q2 2020 The development comprises 18 storeys of high quality office (Building 2) space, which is part of the wider Circle Square masterplan for the former BBC site.
8 No. 2 Circle Square Bruntwood Office 233,792 sq ft Q4 2019 The development comprises 14 storeys of high quality office (Building 4) space, which is part of the wider Circle Square masterplan for the former BBC site.
9 The Green, Circle Bruntwood Retail / Leisure 11,959 sq ft Q4 2019 The Green’ forms part of the Circle Square masterplan which Square is to comprise retail/leisure uses including an exhibition and concert hall.
10 Manhattan Luxury Property Residential 42 units Q3 2019 Development of 42 1 and 2 bed apartments in a 7 storey Apartments Alliance Group building near China Town.
Red text denotes new starts since last Crane Survey.
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Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
11 Big Yellow Storage Big Yellow Other (Storage) 92,000 sq ft Q1 2019 Storage facility is the first development within the revised Facility Group PLC Water Street SRF area, endorsed by Manchester City Council in 2017. It is aimed at both businesses and residents with a variety of storage spaces.
12 Heron House Bruntwood and Office 100,000 sq ft Q3 2019 Works comprise of soft strip and CAT A fit out of offices and Manchester full fit out of the Registrars including replacement windows City Council and reconfiguration of main entrances to the building.
13 Brazennose House Marshall CDP Office 150,000 sq ft Q2 2020 Demolition works took place in September 2018, with the and M&G main works build commencing shortly after. The scheme will front the new development proposals for Lincoln Square and form a major part of the redevelopment of this city centre block.
14 London Warehouse Capital and Hotel 166 rooms Q2 2019 120,000 square foot, seven storey edifice will include a 166- Centric bed four star apart hotel, operated by the Nativegroup and new ground floor commercial operated by Bistrotheque.
15 Bespoke Hotels, Property Hotel 189 rooms Q4 2019 189-bed hotel with ancillary bar, restaurant and casino to be Portland Street Alliance Group operated by Bespoke Hotels, known as Hotel Brooklyn.
16 Hyphen, Mosley Street Boultbee Office refurb 64,000 sq ft Q2 2019 The development brings two buildings under one address Brooks Real and provides an additional 5,700 sq ft of retail space on Estate ground floor level in addition to a one storey rooftop extension.
17 Citu NQ FCIM Residential 183 units Q3 2019 The development comprises 8 storeys with ground floor commercial units, communal facilities and a rooftop garden.
18 Landmark Castlebrooke Office 178,000 sq ft Q3 2019 £100m development will provide 178,000 sq ft in 13 storey building on former cinema site.
19 OneTwoFive Worthington’s Office 113,500 sq ft Q4 2019 The £70million development comprises 113,500 sq ft of Grade A office space over 12 storeys with 12,100 sq ft of flexible retail space on the ground floors.
20 Manchester New Urban and Civic Residential 351 units Q4 2019 Site now being delivered by new owner Urban and Civic, Square which has to work with the existing basement car park delivered through the previous scheme.
22 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
21 Kampus and Minto & Capital and Residential 536 units Q1 2020 Two phased project to provide neighbourhood comprising Turner Centric and both refurbished and new build elements and includes Henry Boot 49,000 sq ft of ground floor commercial space. Developments
22 AXIS Property Residential 172 units Q2 2019 27 storey Build-to-Rent tower aimed at institutional Alliance Group investors.
City core – Complete
23 City Buildings, NOMA The Co-Op Hotel 187 rooms Q4 2018 Project comprises the refurbishment and restoration of Group Grade II listed City Buildings on Corporation Street and will be operated by Hotel Indigo once complete.
24 Dalton Place Tesco Pension Office refurb 65,750 sq ft Q1 2018 Offers 65,000 sq ft of office space over six upper floors. The Fund ground floor has been reconfigured into four units aimed at restaurant and café operators.
25 NOMA – Hanover The Co-Op Office refurb 91,000 sq ft Q3 2018 Project involved the restoration and refurbishment of Group Grade II Listed Building to provide a new office for Amazon, accompanied by 18,000 sq ft of ground floor commercial.
26 Salisbury House Beech Holdings Residential 98 units Q1 2018 Conversion of former office space into studio and one bed residential apartments completed in January 2018.
27 121 Princess Street Beech Holdings Residential 127 units Q2 2018 Existing 8 storey building converted to provide studio, 1 and 2 bed apartments and retains historic features throughout.
28 40 Chorlton Street Staying Cool Hotel 41 rooms Q4 2018 Conversion of former cotton warehouse into an aparthotel operated by Stay Cool.
29 Core, Brown Street Boultbee Office refurb 48,000 sq ft Q3 2018 The 12 month £8m refurbishment provides 48,000 sq ft of Brooks Grade A space.
30 Windmill Green FORE Office refurb 78,000 sq ft Q4 2018 Windmill Green comprised a comprehensive refurbishment Partnership office and 9,600 project that stripped the existing structure and extends the sq ft of retail previous floorplate to deliver Grade A office space.
31 Corn Exchange Hotel AVIVA Hotel 114 rooms Q1 2018 Aparthotel on top four floors of the Corn Exchange operated by Roomzzz. Included conversion of the existing turret to the Corn Exchange on Hanging Ditch into a unique room.
23 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
32 Commercial Union Bruntwood Office refurb 66,000 sq ft Q2 2018 £5m transformation to offer high-quality workspace House adjacent to Albert Square.
Spinningfields / St. John’s – Under construction
33 ABC, Quay Street Allied London Office 130,000 sq ft Q3 2019 Part of the wider Enterprise City development in office, cinema Manchester, which is part occupied by post-production and 32,000 sq ft company ‘The Farm’ following partial completion. The of studios Everyman Cinema will occupy 10,500 sq ft once complete.
34 Old Granada Studios Allied London Hotel 22 units, 210 Q2 2021 Mixed use redevelopment OGS will deliver new build hotel rooms, elements comprising container-style offices and residential 70,000 sq ft units with the refurbishment of the former Granada HQ to studios, and recreate four independent film and television studios, a 210 40,000 sq ft bed hotel, ground floor commercial and a roof top bar with offices. swimming pools.
35 Manchester Goods Allied London Office 265,000 sq ft Q4 2021 Office block with basement car park currently under Yard construction, which will become the new home of Booking. inc once complete.
Spinningfields / St. John’s – Complete
36 Hardman Square Allied London Retail / Leisure 17,900 sq ft Q4 2018 3 storey building with roof top area replaces the Lawn Club Pavilion and becomes the new home of The Ivy. Part of a wider scheme to redevelop Hardman Square.
37 Bonded Warehouse Allied London Office 63,500 sq Q4 2018 Mixed use development in Bonded Warehouse includes ft of mixed offices, leisure and retail spaces and music studios. commercial, 110,000 sq ft of office.
Northern Fringe – Under construction
38 The Lancastrian, Balfour Beatty Residential 274 units Q3 2020 £65m scheme delivered by Balfour Beatty Investment Oldham Road (New and AIG Global Real Estate for a major build-to-rent Cross) development, ‘The Lancastrian’.
39 Mount Yard, Angel FEC Residential 136 units Q4 2020 Mount Yard forms Plot 5 of the Angel Meadows Meadow development and will comprise of a part 9, part 12 storey residential development with townhouses and residential amenity uses at ground level.
24 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
40 Hampton by Hilton, Create Hotel 221 rooms Q1 2020 Designed by TG Architects, the part 7 part 9 storey hotel will Sharp Street Developments also include a restaurant, fitness centre and meeting space.
41 StayCity, Mason Street CEPF II Hotel 224 rooms Q4 2019 224 bedroom Aparthotel including 48 one bed and 176 (New Cross) Mason Street studio apartments which will be managed by Staycity Developments Aparthotel brand.
42 The Hallmark Delph Property Residential 146 units Q4 2019 Previously known as Green Quarter 7, Hallmark targets the Group Build to Rent market.
43 Angel Gardens Moda Living Residential 466 units Q4 2019 PRS scheme forms the first residential block within 20-acre mixed-use redevelopment scheme NOMA and includes a publically accessible courtyard area and private residential amenity spaces, including rooftop games area.
Northern Fringe – Complete
44 Halo Forshaw Land Residential 66 units Q4 2018 Halo comprises 66 one, two and three bed apartments in six and Property storey block with basement car parking.
45 North Central Progressive Residential 64 units and Q4 2018 40 two-bedroom and 24 one-bedroom apartments with Living 4,500 sq ft of ground floor retail and basement parking. retail
46 AC Marriott, New Axel Hospitality Hotel 172 rooms Q3 2018 The new AC Marriott hotel development will also include a Cross café bar, fitness centre and meeting rooms.
Southern Arc – Under construction
47 Elizabeth Tower and Renaker Residential 664 units Q3 2020 Mix of 1, 2 and 3 bedroom apartments, as well as the Crown, Great townhouses, duplexes and triplexes making up 664 Jackson Street residential units in 54 storey tower. Includes resident basement car parking and landscaping.
48 Burlington Square Salboy and Residential 273 units Q2 2020 The development comprises of 273 apartments over 9 Factory Estates storeys with ground floor communal facilities, commercial units and rooftop communal area.
49 River Street Downing Student 807 units Q4 2020 Downing’s latest Manchester development comprises of Student Residential over 800 student bed spaces within a part 32 storey, part 10 storey and part 5 storey building and will include a mix of studios, clusters bedrooms and apartments as well as residential amenity space.
25 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
50 The Royce Henry Royce Education/ 160,000 sq ft Q2 2020 The Royce will be the UK national centre for research and Institute Research innovation of advanced materials. The hub is within the University of Manchester campus, with ‘spokes’ formed by universities of Sheffield, Leeds, Liverpool, Cambridge, Oxford and Imperial College London.
51 Arts and Media Manchester Education/ 135,000 sq ft Q4 2019 This development includes the erection of a new arts Department, Mable Metropolitan Research and media building, including the retention of the former Tylecote University Town Hall façade. It will include a theatre, poetry library, performance space, café, social space, university teaching and office space.
52 City Gardens DeTrafford Residential 86 units Q2 2020 City Gardens is an 11 storey building offering 27 one bedroom and 51 two bedroom apartments, along with eight triplexes with private terraces.
53 Excelsior Mulbury City Residential 108 units Q2 2020 The development comprises of 108 apartments within an 8 storey canalside development.
54 St George’s Gardens DeTrafford Residential 138 units Q4 2020 The development comprises the fourth phase of Phase 1 and Phase 2 development in Castlefield by DeTrafford. 11 storeys containing 138 apartments, including a roof terrace.
55 Cornbrook Works Bellward Residential 363 units Q4 2020 Development on the Trafford border will deliver a 19 and a Properties 16 storey block with townhouses and family-oriented duplex apartments.
56 Cornbrook Hub Glenbrook Mixed Use 280 residential Q4 2020 The development comprises a part 14, part 15 storey (Phase 1) CB Limited units, 154 bed building to form 280 residential apartments with ground and Peel Land hotel, 88 bed floor commercial units, 154 bed hotel, and a 88 bed (Intermediate) aparthotel aparthotel. Limited
57 Trilogy, Ellesmere Glenbrook Residential 232 units Q4 2018 8 to 12 storey PRS scheme in Castlefield funded by a Street Moorfield and Glenbrook partnership.
58 MECD University of Education 840,000 sq ft Q3 2021 £350 million facility will house more than 6,750 students Manchester education and when operational. research facility.
26 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
59 8 First Street Patrizia/Ask Office 173,600 sq ft Q1 2019 Pre-lets have been secured with both Gazprom and WSP, Real Estate who are due to take a combined 95,000 sq ft. Completes early January 2019.
60 The Sky Gardens DeTrafford Residential 166 units Q1 2019 Second phase of DeTrafford’s ‘Manchester Gardens’ all comprise duplex and triplex apartments or penthouses.
61 Owen Street (Phase Renaker Residential Phase 1 – 846; Q4 2019 The tallest of four towers (66 storeys; 200m) will be second 1 and 2) Phase 2 – 648 (P1) and Q4 tallest in the UK after ‘The Shard’ once complete. First tower units. 2020 (P2) due for completion in Spring 2019.
Southern Arc – Complete
62 The Roof Gardens DeTrafford Residential 71 units Q1 2018 First phase of DeTrafford’s ‘Manchester Gardens’ comprises 49 townhouses and 22 apartments.
63 Manchester Business Bruntwood and Hotel 326 rooms in Q1 2018 210 bed 4* Crowne Plaza hotel and 116 bed Stalybridge School Executive University of two hotels and Suites operate the hotel linked to 12,000 sq ft conferencing Education Centre Manchester 12,600 sq ft of facility supporting the new Business School. conferencing facilities
64 Manchester Business Bruntwood and Education Additional Q4 2018 Refurbishment of existing business school and retail School Precinct University of floorspace: precinct provides 376,000 sq ft of new and refurbished Refurbishment Manchester 45,000 sq ft space. education and 12,300 sq ft retail
65 Graphene Engineering University of Education 90,000 sq ft Q2 2018 Delivery of second Graphene-dedicated building was Innovation Centre Manchester funded by UKRPIF, Masdar and Innovate UK, focussed on the (GEIC) commercialisation of the wonder material.
Salford Fringe – Under construction
66 100 Embankment Ask Property Office 209,864 sq ft Q2 2020 100 Embankment is the second of two Grade A office Development buildings to be constructed, with Embankment 101 completing in 2016.
67 Embankment West Select Property Residential 503 units Q3 2020 Embankment West will see the creation of Select Property Group Group’s fourth residential brand ‘Origin Homes’.
27 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
68 Gore Street Grainger Residential 364 units Q2 2020 Three blocks, ranging between 22 and 13 storeys in height, are split between 364 apartments and 11 townhouses, and will also include a gym, café, and private lounge.
69 Middlewood Locks Fairbriar Residential 546 units Q4 2020 JV Fairbriar International secured £35m funding facility (Phase 2) International from the Homes and Communities Agency’s Home Building Fund to bring forward the second phase of the 2,200 unit masterplan.
70 The Slate Yard Muse/Legal & Residential 199 units Q2 2021 This development forms part of the wider comprehensive (Phase 3), Salford General/ECF phased regeneration of Salford city centre and the final City Centre phase of Slate Yard.
71 X1 Manchester Waters X1 Residential 216 units Q2 2020 This X1 development comprises of two blocks, one 10 Developments storeys and the other 12, providing a total of 216 units in Pomona.
72 X1 The Landmark X1 Residential 191 units Q4 2019 Located adjacent to the Middlewood Locks development in Developments Salford, this development will offer a range of one, two and three bedroom apartments as well as townhouses.
73 Two New Bailey Muse/Legal & Office 188,500 sq ft Q1 2020 The office development comprises of Grade A office space Square General/ ECF forming plots B5 and B6 of the New Bailey Scheme.
74 Riverside House, New Muse/Legal & Office 11,147 sq ft Q2 2019 The development comprises a four storey new build office Bailey General/ ECF scheme overlooking the River Irwell towards Spinningfields.
75 The Residence Elliot Group Residential 300 units Q2 2020 Part 15 part 34 storey tower with resident gym and a commercial unit at ground floor. Private off street parking is located at lower ground floor level with additional residential amenities.
76 Adelphi Wharf Fortis and Residential 383 units Q4 2019 The 2nd and 3rd phases of the development comprise 383 (Phase 2 & 3) Knight Knox apartments over 7 storeys with ground floor commercial space.
77 Affinity Riverside Select Property Residential 188 units Q1 2020 Affinity Living is a new premier residential product from Group Select Property Group. Riverside will be 17 storeys and will deliver improved riverside public realm with the adjacent Riverview scheme.
28 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
78 Affinity Riverview Select Property Residential 318 units Q4 2021 Adjacent to Riverside, Affinity Riverview will comprise a 35 Group storey residential tower once complete.
79 Outwood Wharf Peterloo Residential 263 units Q2 2019 Works commenced in July 2017 on this 18 storey pre- Estates fabricated residential block, which focuses on delivering larger family apartments.
80 Downtown Property Residential 368 units Q3 2019 Scheme of 1, 2 and 3 bedroom units will incorporate a spa, Alliance Group gym, concierge, cinema room and business centre.
81 Trinity, Blackfriars Salboy Residential 380 units Q4 2019 Scheme unlocked by £22.5m GMCA Housing Fund loan and incorporating the Blackfriar Pub.
82 The Crescent Salboy Residential 399 units Q2 2019 The scheme will comprise a part 22, part 17 storey private- rented residential scheme with ground floor commercial on the former site of the Black Horse pub in Salford.
83 Chapel Wharf Dandara Residential 995 units Q2 2020 22 storey scheme constructed on a 4.2 acre site adjacent to the Lowry Hotel uses pre-fabricated construction techniques and includes ground floor retail.
84 Exchange Court Renaker Residential 350 units Q1 2019 Will become tallest building in Salford once complete at 44 storeys.
Salford Fringe – Complete
85 Bridgewater Point Knight Knox Residential 220 units Q4 2018 Buy-to-let development comprises 220 units, made up and Fortis of a mixture of studio, 1, 2, and 3 bedroom units and Developments townhouses.
86 Middlewood Locks Fairbriar Residential 571 units Q4 2018 First phase of 2,215 PRS scheme in Salford delivers 571 (Phase 1) International units and ground floor commercial spaces across six blocks adjacent to canal basin.
87 House, Irwell Urban Splash Residential 171 units Q4 2018 Similar modular homes to the New Islington hoUSe scheme Riverside comprising 71 houses and 100 apartments. Residents have moved into the first phase of units, with the wider site to complete in Q4 2018.
88 The Slate Yard, New Muse/Legal & Residential 135 units Q2 2018 Second of two forward-funded PRS schemes as part of Bailey (Phase 2) General/ECF Salford city centre redevelopment project is now complete, with Phase 3 now on site.
29 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
89 Adelphi Wharf Fortis and Residential 202 units Q3 2018 Delivery of the first phase provides 202 apartments over 8 (Phase 1) Knight Knox storeys to contribute to the 585 units being constructed as part of the Adelphi Wharf project.
90 MSCP, New Bailey Muse/Legal & Other (Parking) 633 spaces Q4 2018 The development comprises a nine storey 633 space multi- General/ECF storey car park and the second MSCP in New Bailey.
Manchester Periphery – Under construction
91 Crusader Mill Capital and Residential 201 units Q4 2020 Will deliver 126 apartments in the existing mill and a Centric further 75 apartments in an adjacent new 10-storey building.
92 Vesta Manchester Residential 169 units Q3 2020 Vesta Street is Manchester Life’s seventh project in the Life Ancoats and New Islington area and comprises 169 units.
93 Lampwick Manchester Residential 213 units Q3 2020 The Lampwick development in New Islington comprises of Life two buildings ranging from 6 to 10 storeys and also includes ground floor commercial space.
94 New Little Mill Manchester Residential 68 units Q1 2020 Conversion of the grade two-listed New Little Mill in Ancoats Life into 68 apartments.
95 Burlington House Belgravia Living Residential 91 units Q3 2019 Marks the first major development in Piccadilly Basin since 2011 to provide a variety of apartment types.
96 Islington Wharf Waterside Residential 101 units Q3 2019 A residential scheme which lies adjacent to the Ashton canal (Phase 4) Places just north of Manchester Piccadilly Station.
97 Oxygen Tower Property Residential 357 units Q4 2021 Mix of 1 bed and 2 bed apartments with 12 townhouses. Alliance Group The building steps up from 8 to 14 and 31 storeys and will benefit from 24-hour concierge with commercial floorspace on podium level.
98 Warehaus McCaul Residential 40 units Q1 2019 Redevelopment of historic toy manufacturer includes 32 apartments and 8 townhouses and the three building elements are named Thorpe House, Booth House and Roper House.
99 Blossom Street Mulbury City Residential 143 units Q4 2019 £30m scheme comprises 49 one-bedroom apartments, 90 two-bedroom apartments and one three-bedroom apartment, plus the three townhouses and 4,000 sq ft of retail.
30 A year of delivery | Manchester Crane Survey 2019
Total size Completion No. Name/address Developer Main use (sq ft/units) date Comments
100 Dakota Deluxe Evans Dakota Hotel 137 rooms Q3 2019 4* canal-side hotel features a cocktail bar, restaurant and terraces for guests facing the water.
101 Murray’s Mill Manchester Residential 124 units Q2 2019 Conversion and new build element of Murray’s Mill Life reinstates area destroyed by historic fire damage.
102 Weavers Quay Manchester Residential 201 units Q1 2019 Manchester Life PRS scheme includes 24 hour concierge and Life residential club room amenity space.
Manchester Periphery – Complete
103 X1: The Plaza X1 Residential 201 units Q2 2018 Second phase of X1’s Eastbank scheme, the first phase of Developments which was completed in Q3 2016.
104 The Astley Mulbury City Residential 135 units Q2 2018 Mulbury secured funding from M&G Real Estate to assist the and M&G Real delivery of this £27.6 million PRS development Estate
105 Smith’s Yard Manchester Residential 199 units Q3 2018 Two blocks with 24 hour concierge, residential amenity Life space and four ground floor retail units fronting Blossom Street, which is to become a key route from the city centre into Ancoats.
106 Oxid House O’Connor Residential 119 units Q1 2018 All one and two bed units sold off plan in 12 storey £12.6m Bowden PRS scheme on Great Ancoats Street.
107 1 Cutting Room Manchester Residential 31 units and 110 Q3 2018 All units sold off plan before construction commenced Square Life parking spaces and provides car parking for this scheme and the adjacent Murray’s Mill.
108 Sawmill Court Manchester Residential 159 units Q4 2018 PRS scheme also with four ground floor retail units fronting Life Blossom Street and Bengal Street.
31 A year of delivery | Manchester Crane Survey 2019
Endnotes
1. Some schemes include significant floorspace falling within more than one sector, i.e. where a hotel and office element is being delivered as one scheme
2. Manchester City Council (2018), Quarterly Economy Dashboard Q2 2018-19
3. ONS (2018)
4. GMCA (2019) Draft Greater Manchester Spatial Framework, published January 2019
5. MMU (2018), SODA – Report
6. Deloitte (2018) European CFO Survey Autumn 2018
7. Deloitte (2018) Annual report insights 2018 – Surveying FTSE reporting
8. MMU (2018), SODA – Report
9. Marketing Manchester (2018), Tourism – Its Value to the Local Economy
32 Contacts
Sean Beech Simon Bedford Partner, Tax Partner, Deloitte Real Estate 0151 242 9109 0161 455 6484 [email protected] [email protected]
John Cooper Melissa Wilson Partner, Deloitte Real Estate Assistant Director, Deloitte Real Estate 0161 455 6512 0161 455 8578 [email protected] [email protected]
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