Find out what’s happening in the property investment arena both in the UK and internationally
Planning for Tomorrow today at Manchester’s MediaCityUK
June 3, 2015Article by Charlotte Ashton
You haven’t made it as a company in the UK these days unless you’ve relocated out of London to one of the country’s second tier cities. MediaCityUK in Salford Quays, Manchester, was one of the key developments to start the trend. The mixed use development was begun in 2007 and the first phase of its construction was completed in 2011. High profile tenants so far have included the BBC, the University of Salford, ITV Grenada and ITV Studios, which included moving the entire Coronation Street production facility.
A wave of creative start-ups headed to Salford Quays in the wake of MediaCityUK, along with other high profile national relocations. Now, the £20 million second phase expansion of MediaCityUK is set to bring even more jobs to the thriving area with the construction of the Tomorrow building.
From strength to strength
The Tomorrow building will consist of ten storeys, four taken up by a Premier Inn hotel and the other six allocated for business use. It will provide more than 100,000 sq ft of additional space, attracting plentiful companies to join the 200+ to which MediaCityUK is already home.
Salford Quays is also expanding its cultural offering, at the same time as its business community. The Lowry arts centre, one of Manchester’s top tourist attractions, has been granted permission to begin a £3 million redevelopment that will include a new entrance and an extension to the restaurant and bar area.
Where offices lead, housing follows…
Housing in the area is also following suit, with an iconic waterfront building being redeveloped into luxury accommodation at Custom Quay. The development will provide 60 one and two bedroom duplex apartments along with a communal roof terrace affording spectacular panoramic views. Prices start at £127,000.
Ray Withers, Chief Executive of leading property investment specialists Property Frontiers, comments,
“Salford Quays is fast earning a reputation as one of the most stylish areas of the UK to live and work, so it is in that vein that Custom Quay has been developed. The curved, glass fronted building will be in keeping with developments like the Lowry arts centre and the Tomorrow at MediaCityUK, while the individual apartments will enjoy large windows and skylights to fill the building with light.”
MediaCityUK has been so successful that John Whittaker, owner of Peel Group (the company behind the development) has worked his way into the top 50 of the Sunday Times Rich List, with a fortune of £2.37 billion. The property mogul has been dubbed the “King of Regeneration” thanks to his string of developments, which include the Trafford Centre as well as MediaCityUK. The Tomorrow building’s addition to his empire will benefit not just Mr Whittaker, but the whole of Greater Manchester, further enhancing the area’s reputation as the UK’s digital and creative hotspot.
For more information about leading buy-to-let investment opportunities in Salford Quays and across the UK, contact Property Frontiers or call +44 1865 202 700.