2021 Investment Guide

Greater Manchester 2021 INVESTMENT GUIDE

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OVER 300 TICKETS RESI SOLD! IS BACK! INSIDER NORTH WEST RESIDENTIAL PROPERTY AWARDS 2021

Launched in 2016, the awards celebrate AWARD CATEGORIES the remarkable achievements of the • Apartment Development of the Year Award region’s residential sector. The Insider (fewer than 200 homes) North West Residential Property Awards 2021 brings together the people and busi- • Apartment Development of the Year Award nesses that have designed, developed, (more than 200 homes) funded, built and continue to manage • Residential Property Personality of the Year the built environment and recognising • Bespoke and Urban Developer of the Year their outstanding achievements. • Deal of the Year 14 hotly contested award categories • Housebuilder of the Year Award will showcase the outstanding residential property projects, people and businesses • Small Housing Development of the Year (fewer than 100 units) from across the region. Winners will be • Large Housing Development of the Year (more than 100 units) DRINKS RECEPTION announced at the dinner on Thursday • Law Firm of the Year SPONSOR 15 July 2021 at Manchester Central. • Planning Consultancy Team of the Year Join us to celebrate the remarkable • Residential Operator of the Year achievements of the region’s residential • Residential Sales and Letting Agent of the Year sector and showcase the work of the people who have created new homes • Social Impact Award and communities in the region. • Sustainability Award

THURSDAY 15 JULY 2021 MANCHESTER CENTRAL CONVENTION CENTRE

For ticket information email [email protected] All sponsorship enquiries email [email protected]

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GREEN SHOOTS IN SIGHT FOR GREATER MANCHESTER Tim Newns, CEO of MIDAS – Greater Manchester’s inward investment agency, reflects on how Greater Manchester plans to recover from the global pandemic

Greater Manchester bucked investment innovation; growing an integrated pipe- trends in 2019, experiencing a record line for talent, skills and progression year for inward investment – the best at all levels; driving good employment; figures in MIDAS’ 22-year history – and stimulating investment to create so we approached 2020 with huge desirable places where people thrive. ambition along with some caution We will adopt this approach due to the economic uncertainty immediately in sectors that have surrounding Brexit. Unfortunately, none experienced exponential growth as a of us could foresee the global pandemic result of the pandemic – from healthcare that would overshadow the UK’s and biotechnology to eCommerce and impending exit from the EU. cyber security – sectors that we have For all the challenges that COVID-19 developed strong propositions for and has presented, Greater Manchester and addressing inequalities. which provide opportunity to secure has responded with speed, resilience In support of this Vision, MIDAS will more inward investment. and determination. The pandemic has assume responsibility for ensuring Although we face challenging times, brought a global reappraisal of economic the city region retains its gravitas as the future still holds plenty of opportunity priorities, putting people and the planet a globally recognised investment for Greater Manchester. Inward first and providing an opportunity to location of which innovation will play investment will play a crucial role in not create a Greater Manchester and in a key role. However, we need a fresh only Greater Manchester’s recovery turn, a Greater Britain. approach to innovation if we are to from COVID-19 but the recovery of After months of consultation and diversify the business base, transform every city, state and country around collaboration between the private and ways of working, build vibrant places, the world. public sector, the Greater Manchester create future resilience, support path- MIDAS’ vision for raising Greater Local Enterprise Partnership launched ways to work, and tackle social issues, Manchester’s profile and attracting a new Economic Vision for the city which our city region has developed. more high value investment has never region in late 2020. Building on existing We will deliver this by: securing R&D been more ambitious. But today, we sector strengths in advanced materials, investment in our global assets and stand more committed to championing low carbon, health innovation and digital translational activity across the city this new blueprint for the modern and creative, Greater Manchester is now region to drive national and local growth economy and crucially, we acknowledge poised to lead UK economic recovery through the Innovation GM programme; that people and the planet are at the with a plan for innovation, green growth supporting a culture of business heart of productivity and profitability.

Tim Newns CEO of MIDAS

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A ROBUST AND RESILIENT REAL ESTATE MARKET In a year of unprecedented unpredictability and change, the North West real estate market remains resilient, says Dan Sweeney, partner at UK law firm TLT

The real estate investment landscape Occupier demand for good quality has been profoundly impacted by space remains strong. Tenants of the pandemic as all stakeholders investment space continue to talk of re-evaluate projects for their suitability occupational costs rather than simply and viability moving forward. “rent” and the urgency for business Progressiveness and resilience are rates reform remains paramount. The part of the region’s commercial DNA, balance between this and the need and in today’s uncertain macroeconomic to replenish the public purse will be a climate, those qualities stand out theme to watch. more than ever – particularly in the Focussing on rent roll to underpin commercial property market. value is a major driver for many The diversity of the redeveloped This acknowledges the demand for investors in the current climate. We’re offerings and the repurposing of space new housing but also a return to also continuing to see growing demand is a frequent thread. Investors have taken genuinely mixed use schemes; for new schemes to curate a dynamic n confidence from strong engagement Leisure and entertainment often occupier base on which to build a by local authorities alongside dynamic as a central amenity but also in a host development’s “brand”. developer visions. This can be seen of different guises; and Branding is something that the n in bold schemes for local centre Financial backing from major region often does brilliantly. repurposing in Stockport, Bolton, institutional and international funds. Whether it’s revitalising destinations Stretford, Cheetham Hill, Oldham and Flexibility and diversity are major – “Spinningfields”, “Northern Quarter” Wigan to name a few. assets to any enterprise and demand “Alty Market” etc. – or in commerce The majority of these proposals for these is high in new investment with regional powerhouses such as share some common traits: schemes and when reviewing an boohoo, AO, JD, The Hut Group and n Significant partnership and a long existing portfolio. Euro Garages, the halo impact of major term vision from local authorities and Occupiers and end users are brands reinvesting in their local market development teams; seeking greater flexibility. Demand should not be underestimated. The n Flexible retail spaces with an for shorter-term leases and turnover arrival of a groundbreaking proposal imperative for local independent rents, lockdown rent holidays and the such as Therme Manchester is businesses to be in the tenant mix; enhanced flexibility of new planning testimony to the attraction of the n Residential units and associated use classes give landlords and tenants region and that long term investor social uses being a core component. much to consider. confidence continues to grow.

www.tltsolicitors.com

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BOLTON BURY OLDHAM

WIGAN

SALFORD

TAMESIDE

A ROBUST AND RESILIENT GREATER MANCHESTER MANCHESTER TRAFFORD REAL ESTATE MARKET STOCKPORT In a year of unprecedented unpredictability and change, the North West real estate market POPULATION (2019) remains resilient, says Dan Sweeney, partner at UK law firm TLT 2,835,700

AGED 16 TO 64 GREATER MANCHESTER...... 1,803,200 The real estate investment landscape Occupier demand for good quality BUSINESSES BY STAFF UK...... 41,724,000 has been profoundly impacted by space remains strong. Tenants of MICRO (0 TO 9 STAFF)...... 102,790 the pandemic as all stakeholders investment space continue to talk of SMALL (10 TO 49 STAFF)...... 15,885 re-evaluate projects for their suitability occupational costs rather than simply MEDIUM-SIZED (50 TO 249 STAFF) AGED 16-64 (JUN 2020) ...... 3,610 and viability moving forward. “rent” and the urgency for business ECONOMIC ACTIVITY RATE LARGE (250+ STAFF)...... 580 Progressiveness and resilience are rates reform remains paramount. The GREATER MANCHESTER...... 76.7 TOTAL...... 122,865 part of the region’s commercial DNA, balance between this and the need UK...... 79.0 SOURCE ONS and in today’s uncertain macroeconomic to replenish the public purse will be a EDUCATION (NVQ4 AND ABOVE, AGED 16-64, 2019) climate, those qualities stand out theme to watch. GREATER MANCHESTER...... 36.6 more than ever – particularly in the Focussing on rent roll to underpin MANCHESTER OFFICE MARKET UK...... 40.2 commercial property market. value is a major driver for many CITY CENTRE HEADLINE RENT...... £38.50 PER SQ FT The diversity of the redeveloped This acknowledges the demand for investors in the current climate. We’re MEDIAN WEEKLY EARNINGS (FULL TIME, 2020) OUT OF TOWN HEADLINE RENT ...... £24 PER SQ FT offerings and the repurposing of space new housing but also a return to also continuing to see growing demand GREATER MANCHESTER...... 549.8 UNDER CONSTRUCTION*...... 1.7 MILLION SQ FT (PRELET 51%) is a frequent thread. Investors have taken genuinely mixed use schemes; for new schemes to curate a dynamic n UK...... 585.5 PRIME YIELD*...... 5% confidence from strong engagement Leisure and entertainment often occupier base on which to build a SOURCE ONS *AS OF Q4 2020 SOURCE AVISON YOUNG by local authorities alongside dynamic as a central amenity but also in a host development’s “brand”. developer visions. This can be seen of different guises; and Branding is something that the n in bold schemes for local centre Financial backing from major region often does brilliantly. repurposing in Stockport, Bolton, institutional and international funds. Whether it’s revitalising destinations GVA GROWTH BY INDUSTRY (2008-2018) Stretford, Cheetham Hill, Oldham and Flexibility and diversity are major – “Spinningfields”, “Northern Quarter” SOURCE ONS Wigan to name a few. assets to any enterprise and demand “Alty Market” etc. – or in commerce 10,000 The majority of these proposals for these is high in new investment with regional powerhouses such as share some common traits: schemes and when reviewing an boohoo, AO, JD, The Hut Group and 29.0% Real estate activities n Significant partnership and a long existing portfolio. Euro Garages, the halo impact of major 8,000 term vision from local authorities and Occupiers and end users are brands reinvesting in their local market 18.5% Manufacturing development teams; seeking greater flexibility. Demand should not be underestimated. The n Flexible retail spaces with an for shorter-term leases and turnover arrival of a groundbreaking proposal 6,000 £m imperative for local independent rents, lockdown rent holidays and the such as Therme Manchester is 55.0% Professional, scientiﬁc and technical activities businesses to be in the tenant mix; enhanced flexibility of new planning testimony to the attraction of the n 29.8% Education Residential units and associated use classes give landlords and tenants region and that long term investor 4,000 44.5% Information and communication social uses being a core component. much to consider. confidence continues to grow. www.tltsolicitors.com 2,000 10000 2008 200920102011201220132014201520162017 2018

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6000

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2000 MANCHESTER Best UK City for Business

As the UK’s Top Digital Tech City and one of the top 50 most innovative cities globally, Manchester attracts pioneering ﬁ rms across a vast range of sectors looking to transform tomorrow’s business landscape – from AI and advanced materials to eCommerce, cyber security and life sciences.

MIDAS, the city region’s dedicated inward investment agency, provides complimentary, conﬁ dential and bespoke services to help businesses with their relocation and expansion plans – saving you time, effort and money. Whether you are a start-up, SME or large company, our team of experts will help de-risk your investment in Greater Manchester.

Find out more: investinmanchester.com [email protected] 0161 237 4470 @MIDAS_MCR

p4-7 gmcr stats.indd 6 03/02/2021 13:37 MANCHESTER Best UK City for Business

Find out more: investinmanchester.com [email protected] 0161 237 4470 @MIDAS_MCR

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Delivering greatness Greater Manchester’s boroughs unveil their growth plans, investment opportunities and regeneration strategies

Above and below: Views of the proposed Wigan regeneration scheme

n In December 2020, 15 areas in existing Weir Mill buildings and two England were awarded a combined new buildings alongside 24,000 sq ft £255m from the Future High Streets of commercial space that will create Fund to help realise their regeneration a new leisure and culture destination. ambitions. A further 57 areas received There will be a new public space look- provisional funding offers totalling up ing out across the River Mersey with to £576m. In Greater Manchester, the views of the town’s iconic viaduct and announcement saw Stockport receive the King Street West bridge. £14.5m and Stretford in Trafford Weir Mill is part of Stockport £17.6m. Elsewhere in the North West, Mayoral Development Corporation’s Winsford in Cheshire was awarded (MDC) £1bn plans for the town centre. £10m; while Birkenhead in the Liverpool Sitting within the Town Centre West city region secured £24.6m. regeneration zone, the site is backed Another big winner of the govern- In Stockport, the fund will help the by £7m of Housing Infrastructure Fund ment’s Future High Streets Fund was council deliver its town centre project money from Homes England. Stretford in Trafford. Plans for the area StockRoom which will see the repur- Stockport will also benefit from include a new, expanded high street, posing of 135,000 sq ft of retail space the Getting Building Fund (GBF) with with enhanced public realm and better in the town centre. There are other phase 4 of the Stockport Exchange transport links. It will focus on securing projects under way in the borough, scheme and Glenbrook’s STOK a long-term solution for the Essoldo including Capital & Centric’s proposal conversion of the former M&S building cinema, and developing Stretford Mall to build 253 apartments across the to receive funding. and Lacy Street. This would open up

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Weir Mill, Stockport

access to the Bridgewater Canal and Barton Square, with the new Metrolink (BCEGI), as the strategic development the opportunity for new bars, station directly outside. partner for the £130m redevelopment restaurants, and affordable homes. It is not the only big leisure scheme of the Galleries Shopping Centre. The Bruntwood’s joint venture with Traf- gaining momentum. OVG is develop- proposed scheme will see the existing ford Council also sees the transforma- ing Co-op Live, a new 23,500-capacity 440,000 sq ft shopping centre trans- tion of the former Kellogg’s site in Old arena in east Manchester. The arena, formed to provide a six-screen cinema, Trafford into a vibrant new neighbour- which will host around 120 events and music and e-sports venue, ten-lane hood, to be called Lumina Village. bring in 1.3 million visitors annually, bowling alley, indoor mini golf, food is also set to open in 2023. It was and beverage units, evening entertain- Sport and leisure announced in October that pop star ment space and a new hotel. In addition, Elsewhere in Trafford, there are plans Harry Styles has made an investment there will be 464 residential units, a to bring forward a wellbeing resort in Co-op Live and will be actively new market hall and office space as with waterslides, wave pools, indoor involved, advising on delivering the well as a 460-space car park within and outdoor pools, steam rooms, world’s best fan experience, premium the existing basement. Construction is and exotic palm tree relaxation areas. and hospitality areas, and artist spaces. expected to start in early 2022. Therme Group has more than ten In Wigan, e-sports will be one of the active projects in development around focal points for its town centre regen- Future high streets the world, with Manchester being its eration plans. Wigan Council appointed Wigan secured a provisional funding first in the UK. Therme Manchester is Galleries25, a joint venture between offer from the Future High Streets scheduled to open in 2023 and will be Cityheart and Beijing Construction Fund for £16.6m, though details of the opposite the Trafford Centre next to Engineering Group International bid have not yet been revealed. Becca

Continued on page 13 9

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AIRPORT CITY MANCHESTER £1billion landmark property Manchester Airport • www.airportcity.co.uk • @airportcityuk development

5m sq ft office, logistics, hotel & hybrid space

16,000 new jobs created over 15 years

Comprising 5m sq ft of office, hotels, logistics and hybrid space with excellent multi-modal transport connectivity Airport City Manchester is one of UK’s most exciting business destinations in development today. Work on the site is underway, including the recent installation of a new 52 metre, £6m foot and cycle bridge connecting the development sites to the transport interchange and local community. The delivery of the new Ibis Budget and Holiday Airport City is being delivered by a joint venture between Columbia Inn hotels opposite Terminal 2 are on site now and due for delivery in Q1 2022 and the new Threadneedle Investments (CTI), Manchester Airport Group (MAG), Tribe Hotel, part of the Accor Group, is due to start construction on site in April 2021. The new Beijing Construction Engineering Group International (BCEGI) and the hotels combined will deliver 954 hotel rooms. The Hut Group recently agreed to develop 1m sq ft Greater Manchester Pension Fund (GMPF), all leaders in their respective PROJECT of office and studio space, supporting up to 10,000 jobs over the next three years. Phase one fields. This experienced partnership is working alongside a range of SUMMARY of the construction work for THG will be completed on Airport City North in Q3 2022. Further market leading consultants, suppliers and experts; many of whom have development opportunities in the pipeline at Airport City includes a 92,000 sq ft office building worked upon the scheme since inception. adjacent to the THG campus, a 1,500 space multi-storey car park and another two hotels. DEVELOPER Gareth Jackson PARTNERS Property Development Director, MAG Property [email protected] • www.airportcity.co.uk

Airportp8-14 MCR City 16105.inddMagnets.indd All 10Pages 03/02/2021 10:32 29/01/2021 11:44 ADVERTISING PROFILE

AIRPORT CITY MANCHESTER £1billion landmark property Manchester Airport • www.airportcity.co.uk • @airportcityuk development

5m sq ft office, logistics, hotel & hybrid space

16,000 new jobs created over 15 years

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NORTH WEST COMMERCIAL REAL ESTATE – CARPE DIEM WITH CAUTION Wildbrook CRE director Neil Higson provides an insight in to the current commercial investment real estate market.

Neil Higson BSc (Hons) MRICS, Investment Director, Wildbrook CRE M: 07891 766265 | T: 0161 5330265 | E: [email protected]

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NORTH WEST COMMERCIAL REAL ESTATE – CARPE DIEM WITH CAUTION Wildbrook CRE director Neil Higson provides an insight in to the current commercial investment real estate market.

Investment transaction volumes were could be payable for ‘short term’ down in the North West during 2020, leased office space of a ‘plug and however, it is not by a significant amount. play’ specification, as we transition Capital & Centric’s plan for Rochdale The total value of transactions in out of working from home. Long term the North West in 2020 was leases are still being taken by the Heron, director of economy and skills, forward the next major phase of the Towns Fund board. Capital & Centric approximately £1.633bn, across 281 corporates including Hilti and BT in says the council has “comprehensive borough’s regeneration programme. is active here too, proposing to build transactions, providing a weighted Manchester city centre. plans for the redevelopment of King The creation of a new advanced more than 200 new homes on the average yield of 6.46%. Compared Since the roll out of the Covid-19 to 2019, the transaction total was vaccine, there has been in excess Street, the Civic Centre and the area manufacturing institute and the former Central Retail Park site. Forming £1.9bn with a weighted average yield of £900m of office investment around our train stations”, which were delivery of almost 1,000 new homes the first phase of the council’s station of 6.45%. The 2020 performance is transactions completed in the UK. published in 2019 as part of the Wigan on brownfield sites are among the pro- gateway project, the plans include a down by just 14% in terms of total When I was an industrial agent Town Centre Strategic Regeneration jects being put forward by Rochdale’s mix of high and low-rise homes and value of transactions. The 2020 sector during 2007 to 2015, some landlords Framework. Farnworth market transactions were: offered £1.00 per sq ft leading up to Also among those receiving provisional £3.00 per sq ft. At this time period, l offers is Farnworth, Bolton (£13.3m). Industrial – £654m / 6.28% 2019 figures, while offices, despite sheds were not in vogue. It will use the funding to create a average yield. the ‘death of the office’ is ahead Now, in 2020, industrial rents in the l community and civic hub, improve Offices – £427m / 5.90% of 2019. Retail has not surprised North West are in double digits for SME- the public realm and redevelop the average yield. anybody, with a significant drop from size assets, and are at £6.95 per sq ft l market precinct. Retail – £248m / 7.85% £651m (6.88% yield) in 2019. The for prime assets in excess of 50,000 Developer Capital & Centric is average yield. industrial and office sectors sq ft. Yields have also compressed, l Leisure – £42.7m / 5.99% performed well during 2020 and with some evidence as low as 3.87% involved with the market project. It average yield. should continue to do so during 2021. in the North West – achieved in 2020. is its first scheme in the borough and l Alternative – £282m / 5.81% Working from home is the current As the industrial sector continues to plans include creating more than 200 average yield. normal, but is temporary. Average evolve from the real estate itself and modern homes centred around a new l Mixed Use – £22.3m / 5.40% office lease lengths have reduced by through the occupier chain, investor public square for artisan markets and average yield. almost 50% between 2019 and 2020. demand will be sustained. live events. They also include a new This is due to pandemic uncertainty We remain active across the main flexible space for community use and The best performing sector was and reflects modern cultures of commercial sectors and look forward events, with a village hall feel. industrial and was also ahead of the flexibility and convenience. A premium to the year ahead in 2021. Rochdale is another borough in Greater Manchester receiving a provi- Neil Higson BSc (Hons) MRICS, Investment Director, Wildbrook CRE sional award, of £17.1m. In December, it submitted a bid for £25m to the gov- M: 07891 766265 | T: 0161 5330265 | E: [email protected] ernment’s Towns Fund, to help drive

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apartments, as well as community facilities. A bid has gone in from Oldham Council to secure £41m in funding as part of the government’s Towns Fund. Oldham’s Town Investment Plan focuses on five projects including ‘Northern Roots’, plans to create 160 acres of green space in what is tipped to be the UK’s largest ‘urban farm and eco-park’. Another project is the Minewater Heat Network; creating new flexible performance space for arts and culture providers and relocating Tommyfield Market from its existing How the latest addition will look in New Bailey, Salford site into Spindles Town Square Shopping Centre. Once relocated, the next step would be to introduce “grade-A office accommodation” into the Spindles Town Square Shopping Centre. Development continues in Salford, where the English Cities Fund (ECF) has completed its latest residential development. Valette Square is part of the fund’s wider £1bn Salford Central masterplan, repurposing more than 50 acres of Salford’s civic centre into an innovative and vibrant mixed-use destination. The fund is a joint venture between Muse Developments, Legal & General and Homes England, delivered in Mayfield regeneration scheme partnership with Salford Council. Hot on the heels of Valette Square Building on the fund’s success in neighbouring Manchester, where is Atelier, which will bring forward 178 at Salford Central, ECF was named development has begun on the £1.4bn one, two and three-bedroom apart- in 2020 by Salford Council and the Mayfield regeneration scheme. The ments, alongside 11 three-bedroom University of Salford as their chosen first recipient of the government’s townhouses to the Chapel Street area. development partner to take forward Getting Building Fund to commence ECF is also working on new office Salford Crescent – a £2.5bn, 240-acre on-site, Mayfield will transform a developments in Salford with plans programme of regeneration that previously derelict part of Manchester submitted in November to bring will develop a new city district with into 1,500 homes, 1.6 million sq ft of forward a new, modern building. Some thousands of homes, alongside commercial space, 300,000 sq ft of 113,000 sq ft of BREEAM ‘Outstanding’ innovation and education space, as retail and leisure facilities and 14 acres office space will be created over 11 well as swathes of green public space. of new public realm. The scheme also storeys in the New Bailey area. More green space is also on the way includes the 6.5 acre Mayfield Park.

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Future-proofing Manchester Insider gathered key stakeholders in Manchester to share their views on how the city region continues to put its best foot forward

TAKING PART SIR RICHARD LEESE leader, Manchester City Council

DANIEL SWEENEY partner, TLT

PHIL MAYALL regional director, Muse Developments

COLIN SHENTON chairman, Shenton Group

GAVIN TAYLOR executive director, Far East Consortium

COLIN ELLAM managing director – Industry X, Capital Projects, Accenture Church Wharf, Bolton JOHN MCAULIFFE managing director, McAuliffe Group PRIORITIES Sir Richard Leese Innovation: Greater Manchester’s IAN MAYHEW Our Economic Recovery Plan sets out Innovation Manchester scheme, building managing director, real estate asset management, Barings Real Estate how we are going to fuel the recovery on strengths in life sciences and digital. in Manchester over the next three to The city centre: Covid has taught MARK DONNELLY chief operating officer, five years. We’ve identified four major us that working from home is not Oak View Group areas where we can see growth. the future. We think the city centre The green economy: The scheme will continue to be the key driver of BRANDON HOLLIHAN founding partner, Castleforge Partners that’s proposed is for a large-scale the economy, not least because the retrofit of domestic properties. sectors we’re looking at depend on SIMONE WHITE North Manchester: Two big headline having access to a large, highly skilled North West director, BT Enterprise schemes – Northern Gateway with FEC workforce and major transport nodes. RICHARD LAND and the North Manchester General We also know we have to invest a UK chief development officer, Hospital site where we are proposing lot in people, particularly reskilling and Therme Group to rebuild both the general hospital making sure our young people are job- MARK MORRIS and the psychiatric hospital but with ready. Quality of life, and that includes co-founder, Investream housing, community facilities, education, the working environment, is now the training, and more. The psychiatric biggest single economic driver. There hospital is now fully funded and the are really three themes: place, people, government has funded £55m of works prosperity with a joined-up relationship for the rest of the development. with the private sector.

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a supportive community during coronavirus. That’s encouraged us to commit to more, and we now have five co-living schemes in the pipeline, the biggest of which is a 24-storey tower adjacent to the Lowry Hotel. It’s about 350 units and a GDV of £80m. Other schemes will follow in Liverpool, Leeds and London. When we did our first, we had the assumption that our tenants would be post-grads aged 25-35 working in the city centre. Our age range in the Northern Quarter Oppidan Life in Manchester’s Northern Quarter building is 18 to 69 and it’s evenly balanced between the genders with seven different OPPORTUNITIES IN HOUSING Gavin Taylor nationalities. It’s a fantastic achievement, We are focused on residential development in because it really reflects the diversity and the Manchester, and have around 16,000 homes changes in the city centre and in the population. in the pipeline. There are opportunities in the It’s been very welcome to see some of the construction sector, opportunities in the larger funds move into built-to-rent to create investment sector, there’s a lot of cash out these large, long-term investments that they’re there and there is still demand for homes. going to keep for decades, investing in the Sir Richard Leese It’s not just about investor purchases buildings and the people who live in them. anymore, it’s across the board from owner- occupiers to shared ownership. We genuinely QUALITY SPACE Ian Mayhew see opportunity in that and from central In Manchester we are the developer/investor government also – whether initiatives through behind Landmark, St Peter’s Square. A 180,000 Homes England, such as the Housing sq ft new office scheme. We are also about Infrastructure Fund or modular solutions to complete a large private-rented scheme supported by central government. in Cornbrook and under offer to forward-fund Gavin Taylor In terms of [our] acceleration, it’s across a student development block in Manchester the piece from 40-storey towers through to a city centre. housing development in Collyhurst. The next We see the city as a compelling opportunity milestone for us is breaking ground in Collyhurst, for investors. A growing population, world class it’s really significant for us. We aren’t particularly universities which provide businesses with known for housing; we typically do central access to new talent, it’s cheaper and more London towers. This is a big leap for us. affordable than London – hence north-shoring is occurring and it has, Covid aside, a lively Colin Shenton CO-LIVING Colin Shenton retail, leisure and cultural scene making the city Co-living came out of our co-working business a fantastic place to live, work and play. ClockWork. People were increasingly using Covid has effectively accelerated what was spaces, not just to work, but to form communities going to happen over the next several years and to socialise. We expanded the culture of around the themes of wellbeing, environmental ClockWork into Oppidan Life, which is our credentials and the customer experience. All co-living building in the Northern Quarter. those things were already high up the agenda, Completed about 18 months ago, it was but it’s now right at the top of occupiers’ agendas. full within about six weeks and remained The only way you’re going to entice people

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back into office-based work is if it’s a pleasurable And we’re continuing the great work with and a productive experience. Fortunately, with Stockport Council, looking at a further phase Landmark, we already had these themes at the of development in partnership. forefront when designing it. We’ve got flexible Something we are very passionate about is work space operation Hana going into the lower looking at what is relevant for that town, not floors of the building and Grant Thornton will repeating what’s happened in other places. relocate there this year. You’ve got to start with what made that Ian Mayhew town special in the first place. We don’t have REGENERATION Phil Mayall to reinvent the wheel; we need to build on the We have a very large scheme, a built-to-rent special characteristics for that town. scheme adjacent to New Victoria and we’re about to break ground on BT’s new home in STRATEGIC INVESTMENT Simone White New Bailey. We’re not far off finishing Salford We’ve announced Manchester as one of BT’s Central: New Bailey and Chapel Street. Then strategic locations. It all forms part of the Better we’re moving onto Salford Crescent, which Workplace Programme that BT announced Phil Mayall ties into the Greater Manchester innovation back in 2018. It represents a multimillion network. pound investment from BT effectively to We have agreements in Bolton on Church rationalise BT’s footprint across the UK and Wharf, a long-stalled site that brings good quality invest significant funds into creating inspiring residential into the centre of Bolton. This idea places to work. of place-making by joining schemes up and not In terms of how people are going to be just looking at what’s happening within the four working moving forward, there is going to be walls of one building is going to be a story going a debate between ‘back to the office’ versus Simone White forward. We’re working with Bury Council in a more agile form of working. BT have always Prestwich on the repurposing of Longfield been quite flexible in the work environments Shopping Centre. That’s about bringing in retail that we can create. We’ve got the technology that’s relevant to a particular location. to be able to do that for people. 4 New Bailey, Manchester But I think the bit that BT really do under- stand is the importance of bringing people together; being able to collaborate; working out different styles that work better for different people – it is all going to be about that balance for us. Come 2023, New Bailey is going to be home to up to 2,500 colleagues. We know that Manchester’s thriving in many industry sectors, we’ve got fantastic universities on our doorstep and that’s going to be really important for BT in terms of the talent that we can nurture.

SMART CITIES Colin Ellam We’re a large tech consultancy and Smart Cities is a big thing. We’ve done extensive work in places like Singapore and elsewhere, where you start connecting what’s called ‘the twin of twins’.

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So you can have a health twin, a retail twin, a a Greater transport twin, an energy twin, a housing twin and [look at] how these all interact with each Manchester, other. So how do people get to their health provision; how do they get to work; how do they consume experiences. That level [of making a detail] is advancing really quickly and the cost of it is coming down because the analytics running behind it are becoming cheaper. Greater We’re also looking at industrialised construction: bringing advanced manufacturing Britain techniques into the world of construction. For example, standardisation of design; modularisation; off-site as much as you can; just-in-time supply. That has a big impact, especially on the larger schemes in terms of productivity, connected construction, connected workers – all these things are coming into play. Then for us as consumers – because we’ve got over half a million people around the world – we regard our employees as customers and we want their experience to be good from the way they use the offices. We’re working hard on that; we have closed some offices but we’re moving to Circle Square in Manchester in June and it will be centred on the ‘customer experience’ of the employees. Top: Landmark, Manchester Above: The vision for King Street offices UNLOCKING BROWNFIELD LAND John McAuliffe [environmental health] departments within Flexible tenures and funding models have the councils. challenged the traditional housebuilding business On nearly every planning consent we see case. It’s no longer the fiefdom of the plc everything related to contamination has housebuilder. We have seen complex contami- a standard condition that needs discharging nated sites become viable as a result. That means and it can add months of delay to a project. more contaminated sites are coming to market, Upfront collaboration can remove those Colin Ellam GREATER MANCHESTER’S PLANS FOR A and we’re seeing a lot more collaboration delays. I’ve seen projects delayed for years with the regulators, such as the Environment because of conditions and not addressing FAIRER, GREENER, GROWING ECONOMY Agency, to bring those sites forward. Our contamination properly. industry has progressed significantly in terms of technology for remediation. The Environment WELLBEING Richard Land Find out more at gmlep.com/economicvision Agency also has a different model now, a Therme Group is bringing a proven concept fee-paying model, which the developers are from Europe into the UK with a facility next #VisionGM #Imperative21 happy to pay. We’re trying to push the fee-paying to the Trafford Centre. Manchester’s already John McAuliffe model as it will drive some funding into considered a global city and it will continue on Follow GM LEP: @GMLEP bit.ly/GMLEPLinkedIn

Continued on page 22 18

p15-25 MCR Feature/RT.indd 18 03/02/2021 13:57 Building a Greater Manchester, making a Greater Britain

GREATER MANCHESTER’S PLANS FOR A FAIRER, GREENER, GROWING ECONOMY Find out more at gmlep.com/economicvision #VisionGM #Imperative21 Follow GM LEP: @GMLEP bit.ly/GMLEPLinkedIn

p15-25 MCR Feature/RT.indd 19 03/02/2021 13:57 Bolton By 2030, we will; means business Our strengths lie in our Build collaborative efforts to deliver a Bolton reshaped 1,700 for the 21st century. The mixed use homes masterplan shows how forward thinking and ambitious the council is. Provide This is an achievable vision that identifies key areas of £487.5m the town centre, and it will (GVA) in additional be a game-changer to economic activity build a strong and distinctive town.

We’re revitalising existing Create assets and adding vibrancy by bringing residential development 4,411 A Bold Vision into the town centre. Our full-time jobs for Beyond 2030 plans will bring a strong retail core but also reanimate the town with different communities Increase the town working and living here. centre population to Bolton has an impressive track record of developments including 6,000 the £50million transport interchange, Logistics Boost the visitor Bolton has a rich and proud heritage and a bold plan for a bright North, and Bolton’s and prosperous future to unlock it’s true potential. reimagined Octagon economy by Theatre. The Council has also committed to help £7.3m Bolton has everything that potential investors need Trinity Quarter revitalise its district town per year to succeed, a healthy pipeline of talent, excellent centres with masterplans Church Wharf infrastructure, strong leadership with a clear in Farnworth, Little masterplan vision and plans for improved digital Cheadle Square Lever, Horwich and Westhoughton. connectivity. It has a proven track record in working Crompton Place/Bolton Victoria Square successfully with the private sector to bring about Increase Croal Valley Gerry Brough tangible change that generates real social, economic green space and Director of Place and financial returns. Blackhorse Street connectivity

The streets of Bolton are paved with aspiration, big plans and innovation [email protected] and there has never been a better www.investinbolton.com time to invest in Bolton.

Boltonp15-25 dps MCR resized.indd Feature/RT.indd All Pages 20 03/02/2021 13:57 15/12/2020 14:20 Bolton By 2030, we will; means business Our strengths lie in our Build collaborative efforts to deliver a Bolton reshaped 1,700 for the 21st century. The mixed use homes masterplan shows how forward thinking and ambitious the council is. Provide This is an achievable vision that identifies key areas of £487.5m the town centre, and it will (GVA) in additional be a game-changer to economic activity build a strong and distinctive town.

The streets of Bolton are paved with aspiration, big plans and innovation [email protected] and there has never been a better www.investinbolton.com time to invest in Bolton.

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that upwards trajectory with the focus on innovation, technology and health and wellbeing. We’re really a perfect fit. Looking at the Greater Manchester strategy on the environment, climate change, the elderly, the young, families… we fit into a lot of those categories. And it’s not just Greater Manchester, we have a 90-minute catchment area that brings in a large demographic. Once we’re operational we think we will get to two million visitors in five years’ time. The socio-economic health benefits are huge. We’re a £250m project, which will bring a lot of employment in construction and the supply chain – 30 per cent of our business will food and beverage. We’re looking to break ground this summer and get it built within a couple of years. There’s absolutely a demand [for this concept], spas on small scales have grown significantly over the years. There’s increased focus on nature, water, staycations. People are looking for things to do nearer to home and we can support all demographics.

LEISURE DESTINATION Mark Donnelly We’ve secured planning permission to open a new 23,000-seat arena in Manchester. We CGI of the proposed new arena in Manchester think there’s a massive opportunity for the next generation of arena. will flow through the city centre. Hopefully we’ll We’ve deliberately picked our naming rights open in late 2023. It’s a challenging time for the partner as Co-op, a very Manchester-centric live entertainment industry but we think that brand with a national reach. The key part of timing works perfectly. The pent-up demand that partnership is going to be what the arena and appetite for live entertainment we think can give back to the wider area. We think it’s an will bounce back; with 2022 and 2023 looking arena with a social purpose. like they’re going to be bumper years. But first and foremost, we’re a commercial entity and we’re convinced that Manchester PERSONAL TOUCH Mark Morris can support a second arena. We think we can Working from home is not the future, but there bring a significant number of new events into are some structural changes. We believe to the city and that has knock-on benefits that occupiers will want smaller accommodation. to city centre businesses. As a result of our They will be able to manage with less planning application, we did a huge amount accommodation because although people will of research on the economic impacts and come back to town – we found that occupiers the social impacts. The vast majority of the want to come to the town centre for talent – additional GDV that we’ll create in Manchester there has been a structural change. If any of

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Therme Group’s Retail needs to integrate with your offices. proposed wellbeing I don’t mean chains on ten or 20-year leases, resort but interesting restaurants, interesting shops, things that almost replicate a university town experience. Then you have the change of how people are living. Younger people, we think, continue to want to be in city centres. But you also have people who know they can work from home for a couple of days a week, and want to com- mute in. So how do you integrate them to be able to give a great experience for both? Our us are doing what I would consider to be an Richard Land role as an investor is that of long-term owners ‘admin day’ or a day that you don’t need to trying to create a really good community that’s interact with other people, we can, and will, integrated. We’re excited about the future in work from home. terms of being able to create these spaces and But when you want to brainstorm, inspire do more in cities that are growing rapidly and and create that productivity to drive the with a talented population like Manchester. business forward, you need to come together. Therefore, our formula and the way that we’ve REPURPOSED RETAIL Daniel Sweeney designed all of our buildings, is that you can Mark Donnelly What’s been interesting over the last nine manage with smaller accommodation than months is the amount of my London-based you’re used to, but have the ability to have clients – particularly on the occupier side of flexible additional accommodation. In our things – who are really keen to tap into our opinion, the way forward is going back to basics contact book in Manchester. That’s across of personal service. Unlike becoming totally a multitude of different occupier classes: automated, we’re doing a concierge service hotel operators, bars, restaurants, gyms both but with your own private office. No coworking boutiques and big box operators. And it’s not or serviced offices. Buying [37-41] King Street Mark Morris just in the city centre. We’ve looked at schemes during Covid, a lot of people think we’re mad. recently for a number of gym operators in But we have confidence. Middleton, Wigan, Bolton, where there’s huge demand. And only in the course of the last three VIBRANT PLACES Brandon Hollihan months, the number of Greater Manchester As operators of real estate we’re here to satisfy traditional retail schemes that have announced a customer need. Those needs are now more a major investment and diversification of their aggressively changing from an office perspective. asset class has been fascinating. Large occupiers are all saying the same thing: Brandon Hollihan There’s genuine public-private partnership offices are not places where we just stack going on and an addressing of the need for people to be productive any more. Offices are diversification of that space across all asset where you create your best ideas, you educate classes, including residential, office space, and you train people in values of your business. coworking. It’s moving away from the more We’ve seen that offices are sub-10 per cent chain-led stores or grocery-led schemes and of the cost of an employee’s salary. In the war looking at something that is grounded in its for talent, if you pay a little more to get the own community and is highly relevant for its best office, that is a very valuable spend. Daniel Sweeney customer base.

p15-25 MCR Feature/RT.indd 23 03/02/2021 13:58 ADVERTISING PROFILE

NOMA, MANCHESTER noma-manchester.com • @NOMA_MCR 4 million sq ft Largest development in the North West

1.2m sq ft development pipeline

First Amazon HQ outside of London

Delivering 4 million sq ft of new and refurbished offices, retail and leisure space, homes and hotels amongst vibrant public realm, NOMA is pioneering place with a neighbourhood-led, sustainability focused approach to regeneration. Latest developments include 4 Angel Square, a speculative development and Manchester’s first carbon net zero operational office building. The 200,000 sq ft 11 storey building will complete in January 2023. Part of a NOMA is being delivered by the international business of Federated 1.2m sq. ft. development pipeline at NOMA, 4 Angel Square will form an integral part of Hermes, a leading global investment manager, and MEPC, who have an NOMA’s business district and is a best in class example of a highly sustainable and efficient outstanding track record in responsible development and management PROJECT commercial office building. With the Co-op’s HQ, One Angel Square - the most sustainable of large Business Estates and urban regeneration projects. SUMMARY commercial development in the world when it opened in 2013 - and global tech giant Amazon in their first HQ outside of London, NOMA is a place for big business and big thinkers. DEVELOPER INVESTMENT MANAGERS DEVELOPMENT AND ASSET MANAGERS Dan Hyde Senior Development Manager, MEPC [email protected] • Mobile: 07771 976832

NOMAp15-25 dpsMCR 15848.indd Feature/RT.indd All Pages 24 03/02/2021 13:58 03/02/2021 11:06 ADVERTISING PROFILE

NOMA, MANCHESTER noma-manchester.com • @NOMA_MCR 4 million sq ft Largest development in the North West

1.2m sq ft development pipeline

First Amazon HQ outside of London

NOMA dps 15848.indd All Pages p15-25 MCR Feature/RT.indd 25 03/02/2021 11:0613:58 LEADERS GREATER MANCHESTER

Flight to quality

The fundamentals remain strong in Manchester – speakers at Insider’s “Manchester: People. Place. Potential” event discussed the secret to Manchester’s economic success

n With a diverse economy worth While the pandemic has led to a Booking.com is set to open a new £62.8bn (GVA), Manchester is a “sharp contraction in economic global headquarters for its Rentalcars. powerhouse in its own right. Companies activity”, Haslam noted that Manchester com business. It’s signed a 12-year, based in the city region have access to is forecast to remain among the 222,000 sq ft pre-let. 7.2 million people within a one-hour more resilient UK job markets in the Drilling down into Manchester’s drive and the population is set to near term. “After recording the property market, Haslam said that increase by a further 56,000 – more country’s strongest job creation figures across retail, industrial and office than 10 per cent – by 2034. in the last few years, employment space, more than £150m was invested With Manchester continuing to is set to continue to grow with tech, in Manchester in the third quarter of attract significant levels of investment professional services and media 2020 and that “investment momentum in the midst of the pandemic, Insider companies all continuing to expand does appear to be finally gathering held a special event to find out the in the city,” he said. some pace” with £400m of “potential secret to Manchester’s economic He added that there was “robust office trades in play”. For Manchester’s success focusing on three key drivers demand” for top-quality space office market, there is growing for investment: People. Place. Potential. and several new-build developments investor interest in the UK and overseas, Taking place at Insider’s studio in the pipeline which continue to with a number of prime offices put up space in Manchester in December and attract major occupiers on pre-let for sale. sponsored by CoStar, Moda Living and deals. Among them, he called out 3 NOMA, the event featured a presentation New Bailey, where HMRC is to take Speculative development by Jon Haslam, senior analyst at property more than 150,000 sq ft in 2022, and One investor confident about data specialist CoStar Group. the Manchester Goods Yard, where Manchester’s prospects is Federated

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“We’re investing not just in a specific site; we’re investing in a location” James Blakey

Hermes, which broke ground on 4 The building is being developed by “We’ve all been locked away since Angel Square in December. In an Federated Hermes and MEPC. The March working from home and for a interview with Insider, Stephen Bradley, new 200,000 sq ft office space will be lot of people that just doesn’t work. director, investment management, said operationally net zero, in line with the The creativity and innovation that this “marks the delivery of the first UK Green Building Council’s net zero stems from working together is hugely speculative building at NOMA”. framework. Practical completion is important, and we want to deliver that It joins the NOMA develop- due in 2023. at NOMA,” he said. “So with people ment where Amazon also On the overall vision for having got used to working from has a base and where NOMA, Bradley said: “What home, we want to deliver environ- Deloitte will be located. we’re trying to create is a ments that are better than at home “In terms of our am- neighbourhood; a destination and that provide all the amenity, bition for Angel Square, for companies that will provide facilities and leisure destinations that this is a great example the opportunity for them will make it a true community and of the diversity of to attract the neighbourhood.” occupiers that very best talent Bradley believes there’s demand for we’re seeking to Manchester is an office the size of 4 Angel Square attract”. famous for. in Manchester. “We’re seeing a lot of north-shoring. Not just the government, but a lot of professional services “We have every confidence in Manchester organisations are looking to diversify away from London for a whole raft of and its future as a business destination.” different reasons that might be born Stephen Bradley out of Covid, or economic factors, or

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tapping into the talent pool. We have “Manchester is a The attraction, says Blakey, is an amenity- every confidence in Manchester and rich and flexible offer that means no its future as a business destination.” city that’s on the deposits or service charges. The devel- As part of Federated Hermes and international radar.” opment was completed in July and by MEPC’s place-making agenda, a new Dan Hyde the end of the end of November was public square will connect 4 Angel 65 per cent let. Manchester, he added, Square to the as yet unbuilt 2 and 3 “is a dynamic place to be”. There Angel Square, which will collectively is a “lively social scene” and great deliver 600,000 sq ft of grade-A new- Amazon taking space in Hanover building representation from universities and build office space by 2025. is a prime example of that. And we think corporate employers. “We’re investing Dan Hyde, senior development we can fulfil people’s ambitions.” not just in a specific site; we’re manager at MEPC, said the addition of James Blakey, planning director, investing in a location. Our business the new-build estate helps to activate Moda Living, is also seeing a diverse plan is for 30 years.” the area and solidify NOMA as a demographic move into Moda Living’s Blakey believes renting can be a thriving business district and mixed- Angel Gardens in Manchester. He said: long-term alternative to home own- use quarter in Manchester. Picking up “We’ve got people from 12 different ership. “If you look at government’s on Bradley’s north-shoring point, he countries; roughly about 40-42 per cent target now of 300,000 [new homes] added: “Manchester is a city that’s on are coming from freehold properties per annum, we’re falling short of that. the international radar; not only into the rental market.” There needs to be more flexibility.” For looking to pull people from the south Angel Gardens is 35-storey apartment him, built-to-rent delivery and proper up to the north, but also appeal scheme with more than 460 apartments “long-term stewardship” of those to the wider international community. for rent, it’s the first of its kind for Moda. properties, can be one of the answers.

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The tech ecosystem Ambition knows no bounds for Manchester’s tech entrepreneurs

n According to Manchester’s inward were plenty of other tech businesses key element is that success breeds investment agency MIDAS, Greater which had attracted the eye of success. “We’re starting to see that Manchester has a fast-growing £5bn investors including Cubic Motion, second wave of companies come digital ecosystem, with ambitions to Volcanic, and Avecto, which was bought through. There is no shortage of ideas. become a top-five European digital by American firm Bomgar in 2018. The knowledge and skills we have is city and global influencer. It is home Huq said: “We have a good track very conducive to us being able to to more than 10,000 digital and tech record now in the region of being able continue this momentum.” businesses, from startups and SMEs to scale companies to the point where Huq also said there was a mindset to global brands including Google, they can exit. The wealth created by shift among today’s startups: “The Microsoft, IBM and Cisco – as well as those exits then trickles back down ambition level is far higher than it was home-grown household names such as into the ecosystem and helps build even five years ago. Young people are The Hut Group and AO.com. future companies.” looking to build the biggest company they possibly can.” He said Manchester now enjoys better access to funding than it used to “We’re starting to see but there was more work to be done. that second wave Among those raising big money of companies come are Sorted, Applearn and Matillion. Based in Altrincham, Matillion has through. There is no “been attracting US investors, which is shortage of ideas.” a key ingredient that I think we might still be missing”. Javed Huq According to Huq, Manchester has a strong angel network, with an increasing number of wealthy individuals putting small amounts of money into early-stage businesses. “We should celebrate that Manchester In terms of what excites him about “Where I think we’re missing is already the second biggest tech the future, it’s those home-grown busi- something,” said Huq, “is at the growth city in the country – second only to nesses building enterprise software. equity stage, those sorts of business London,” said Javed Huq, a director Expect big things from the likes of that have to go out of the region in and head of the Manchester office at Planixs, Connex One, and Nivo, he said. order to find that kind of capital”. GP Bullhound, a technology advisory Huq said there are more than That capital is often American-based and investment firm. 100,000 people working in the tech and Huq said: “A lot of the big US When it comes to Manchester’s sector in Manchester, and the work- funds will have offices in London. What notable success stories, Huq said the force is one of the key attractors to I’d love to see is some of them set up most obvious example had been The companies looking to invest in the city in Manchester. Hut Group, which listed on the London region. Another, he said, was the good “If they do that, it will really help the Stock Exchange in 2020. But there transport links. Crucially, though, the city grow faster.”

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Rochdale AMPI Image: Rochdale Development Agency/Fairhurst Design Group Advancing innovation Greater Manchester’s growth plans see research and development facilities extended beyond the centre

n In late 2020, the Greater Manchester funding and drive economic growth. in Rochdale; meds manufacturing in local enterprise partnership (GM LEP) This will be particularly targeted Wythenshawe – building on the unveiled its blueprint for a more at the growth sectors identified by the talent base and the physical assets in resilient Greater Manchester. Local Industrial Strategy: health, those areas”. Central to the vision is Innovation digital, clean technologies and advanced The vision is to use the surrounding GM, the city region’s plan for achieving manufacturing and materials. areas and what makes them unique an uplift in investment in innovation Tom Renn, managing director at instead of trying to cluster all innovation and R&D – especially translational R&D Bruntwood SciTech and chair of in the centre. “It’s not easy, but we’re – which the city region says would Manchester Science Partnerships, says: trying to tackle that through partner- level it up with the ‘golden triangle’ of “The new prospectus for Innovation ship, [for example] closely working Cambridge, Oxford and London. GM is thinking about how it can with MFT on a healthy living campus The Innovation GM platform will serve the broader regions, how to model for North Manchester.” bring together Greater Manchester’s distribute innovation.” The new advanced machinery and public and private sectors, educational A proposal has been tabled to productivity institute (AMPI) in Rochdale institutions and specialist facilities to government to bring forward would be located on the Kingsway attract research and development “advanced manufacturing for graphene Business Park and has the potential

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building on the region’s internationally recognised tech and manufacturing cluster. The development is expected to complete in March 2022. The five-storey building will include office space and lab capability plus a workshop space for prototyping new, or modifying existing, products as well as a welcome lounge, break-out spaces, meeting rooms, and a roof terrace with accompanying event space. It will also be home to the new Manchester Innovation Activities Hub (MIAH). The MIAH will be delivered by the Blair Project to provide a training centre dedicated to the rapid upskilling, reskilling and retraining of more than 5,000 local residents over ID Manchester the next five years. There are developments to boost to create more than 1,000 new, highly district comprising 2.6 million sq ft of Manchester’s health innovation cluster skilled jobs. The Institute would team workspace across a 26-acre site close even further, with the launch of the up with the National Physical Laboratory to Piccadilly station. Christabel Pankhurst Institute for and universities, including Manchester, In 2020, the university whittled its Health Technology and Innovation, a Salford and Huddersfield, and serve shortlist of prospective partners down £25m initiative. A consortium led by as a catalyst for the creation of an to four – Bruntwood SciTech and the University of Manchester unveiled innovation district within Rochdale. Stanhope, Peel and Urban Splash, HBD, this new research and innovation As well as the healthcare and Mapletree – before coronavirus institute to build on Manchester’s manufacturing facility in Wythenshawe forced a pause in the selection process. academic strengths in digital health and the AMPI, the LEP’s proposals Once the joint venture is established, and advanced materials to discover also highlight plans for a Digital Trust the partnership will draw up a innovative health and care solutions. and Security Catapult and Energy new masterplan. And although the It is being launched following a £5m Innovation Centre. project effectively involves replacing Local Growth Fund award from It has ambitions to establish teaching buildings with commercial Greater Manchester LEP and Greater innovation districts in all ten Greater space, the university will retain Manchester Combined Authority. Manchester boroughs, including the the freehold of the site and will have The institute will be housed in a Salford Innovation Triangle, Bolton a vested interest in what ID flagship building at the centre of the Innovation Zone, and Tameside Future Manchester becomes. university’s campus on the Oxford of Urban Living technology park. Bruntwood has begun work on the Road Corridor, as well as having Meanwhile, the University of £21m, 91,000 sq ft development of research and business development Manchester is preparing to announce Base at Manchester Science Park. Base spaces at MSP’s Citylabs campus. its development and investment partner will offer workspace for companies The new £35m Citylabs 4.0 to deliver the £1.5bn ID Manchester working in sectors such as Industry development was given the green light innovation district. The project will see 4.0, low carbon, computer and energy in 2020, adding 125,000 sq ft to the the university and its partner create a technology, gaming and animation, existing campus.

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