According to new research from national commercial property consultancy Lambert Smith Hampton – “Manchester is the best city in the Northern Powerhouse for property investment.”
This is based on the reports finding that 68% of professional property investors in the UK believed that Manchester is the best place to invest because it has ‘good transport links and a large education talent pool’.
As well as property investment, Manchester is also gaining in popularity as a location for business.
According to the report “Of the 941,000 sq. ft. of new office space completed at the end of 2016, 34% of it is already committed and the remaining stock is expected to be absorbed over the next 12 months, if not sooner.”
However, just over a quarter (28%) of respondents felt that without further government investment in HS3, which will focus on connecting Northern Powerhouse cities , the Northern Powerhouse, although growing in potential , would never truly compete with London as a business location.
Lambert Smith Hampton’s research also identified “Salford as being likely to become one of, if not the biggest, co-working hubs in the Northern Powerhouse, due to the growing popularity of its Tomorrow Building and Greenhouse sites, which offer co-working facilities”.
Another finding revealed by Lambert Smith Hampton is that since the recent referendum there has been a drop off in institutional investment, but overseas investment in the Northern Powerhouse cities, in particular Manchester has increased, with foreign investors showing an interest in a wide range of business opportunities.
If you are considering investing in property and would like advice contact Peter Robinson & Co.
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- Business Premises
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We act for large organisations and small businesses.
For further information please contact Peter Robinson & Co.
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