MediaCityUK set to double in size over the next decade
New plans submitted to the council last month could see as many as 10 new buildings constructed over the next 10 years in Salford.
The predicted £1bn expansion within the MediaCityUK site is already home to over 250 companies including BBC and ITV studios. The new plans include over 50,000 m² of office space, 1,800 residential developments in addition to extra retail outlets and public spaces.
Original plans for the MediaCityUK development were submitted in 2006 as construction began in June 2007 for phase one. Since then, over 1.5 million sq. ft. of new buildings have been built including apartments, offices, leisure outlets, university accommodation and hotels.
Phase 2 of the development is expected to begin later in the year – original terms and conditions submitted by the developer in 2006 specified that all details, including building design and specification, must be submitted by 2016. The new plans are expected to be considered by the Salford planning panel in September 2016.
Since its inception, MediaCityUK is believed to have created as many as 15,000 jobs which has increased tenant demand in the area. Many of business relocation projects, including that of the BBC, have bolstered tenant demand in the area as many employees made the move from London to Salford.
Comments from Sequre
Graham Davidson, Managing Director of Sequre Property Investment, comments on the expansion of the ever-popular MediaCityUK site
“When plans were originally submitted for this development, it would have been difficult to predict just how much of an impact MediaCityUK would have on Salford and the wider Manchester area. The number of new developments have increased as a result and this has brought an entire new wave of people both wanting to live and work here. Investors have also been quick to recognise this growing demand and we often see a high number of enquiries on properties that are within the MediaCityUK area because of this.”
“It’s likely that since phase one has been such a huge success, these new plans will follow in similar footsteps and construction will begin pretty quickly in order to keep up with demand.”
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