2021 Investment Guide
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Greater Manchester 2021 INVESTMENT GUIDE SPONSORED BY p3 Manchester Cover.indd 3 03/02/2021 10:14 SPONSORED BY 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] p32-34NW Resi GM 21_RESIZED_185x250.indd Clusters 2.indd 34 1 03/02/202101/02/2021 11:3212:07 SPONSOR FOREWORD 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 Contents.inddMIDAS fwd 16033.indd 4 46 03/02/202102/02/2021 14:1715:13 SPONSOR FOREWORD 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 p4-7TLT fwdgmcr 15462.indd stats.indd 464 03/02/2021 13:3713:35 SPONSOR FOREWORD ROCHDALE 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