2016 presented major opportunities for the future prosperity and growth of the city region. The handover of the devolved health budget, HS2 commitments and a formal remit for Transport for the North have formed the basis of a renewed regional optimism. But how has this sentiment materialised and driven delivery on the ground into 2017?
Manchester's resurgence - unparalleled scale and volume of construction
The key findings show:
- Number of new starts up by 40% from previous high in 2007 levels
- An unprecedented 6,963 residential units under construction exceeding former record by 2,994 units
- Transformation of the skyline with four residential schemes over 25 storeys under construction and six planned for 2017
- Residential construction pipeline extends to 2020
- 558,100 sq ft of office space delivered, highest volume since 2008
- Lucrative Manchester office rental market with headline rents at £35 per sq ft for prime space
- 63% increase in hotel beds under construction compared to January 2016 with the largest delivery of complete rooms since 2006
- Approximately 199,000 sq ft of new additional education or research floorspace under construction
Download - The Manchester Crane Survey 2017
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