Manchester is witnessing a huge influx of businesses but needs to build more to meet the demand, according to a report.
Savills Research highlighted the city has seen the creation of 57,000 jobs in the city centre since 2011 – more than twice the number seen across the whole of UK – which brings the need to accommodate an additional 36,000 office workers in the next ten years.
According to property investment consultants Surrenden Invest, there is a need for a different type of property.
Managing Director Jonathan Stephens explained large corporations had moved to the north resulting in the need for “nearly 100,000 new properties in the next ten years”.
“Though a large part of this demand is being answered by the myriad of new builds under construction, since the extension of the Permitted Development Rights (PDR) there has been an emerging trend within Manchester of conversions of former industrial or office spaces, unlocking previously hidden potential in the market – and providing exciting new properties in turn.”
One such project that is gaining attention is Surrenden Invest’s One Cross Street situated at the heart of the city just five away from Manchester’s business and leisure district Spinningfields as well as the shopping district of New Cathedral Street.