The Property Ombudsman

Manchester named as second city for business

More business deals than any other city

Research this week has found Manchester to be the most active business hub outside of London.

New data shows that the city has seen more business deals completed in the first quarter of 2015 than any of the other eight big regional cities.

Manchester was also revealed to have one of the best performing office markets outside of London, with rents for office space in the city centre potentially seeing a record high of £35 per square foot due to such a phenomenal demand.

The news follows on from the Budget announcement made last month in which the Chancellor George Osborne discussed his vision of a Northern Powerhouse with Manchester as the driving force. The city has said to be “at the forefront of positive change”, with the Government alone investing £4 million.

comments from sequre

Graham Davidson comments on Manchester as the “Second City”:

“Manchester is currently thriving in all areas. The business outlook has always been strong and the ambition of the city knows no bounds. The addition of MediaCityUK and the new BBC and ITV studios in Salford Quays, saw over 15,000 new jobs created in total.”

“The Government’s plans for a Northern Powerhouse will play a vital role in boosting business in Manchester even further. The proposed new high speed rail link could completely change the way we commute, and the rapid connections to London will put Manchester on a more level playing field.”

“We are starting to see that the UK no longer revolves around London, and the increase in business deals is great news for investors. The demand for high spec, new build properties in the private rented sector is phenomenal, especially in key business areas in and around Manchester such as Salford and Spinningfields. The rental yields that can be achieved here are averaging at around 7.5%, far superior to those of 4% in the South.

If you’re considering a buy to let investment in the North West, speak to our team at Sequre. Our team of experts understand the UK property market first hand and are knowledgeable in all areas of the industry. As well as Manchester, we source discounted properties in all areas of the UK and are able to negotiate the best deals for our investors, meaning they can achieve the highest possible rental yields. If you’d like more information, call us on 0800 011 2277.

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