Billions of pounds of schemes are under way in the heart of the North West. EG maps the cranes for a true picture of Manchester’s development boom
Manchester’s skyline is changing. The city council’s masterplan shows billions of pounds of new development, from station revamps to residential skyscrapers and new neighbourhoods.
But how sustainable is that growth? While many schemes are getting off the ground, not all proposed developments are likely to get funding. One Manchester-based developer said this was due to an historic miscalculation in construction cost appraisals – which have been estimated at £150 per sq ft rather than the real cost of £180-£190 per sq ft.
Colliers International’s Manchester Development Watch, carried out with assistance from students of Manchester University, shows that in June there were 24 active cranes bringing forward new developments in the city, with offices topping all sectors in terms of growth.
Here EG maps out the research to show where development is already taking place.
“It is interesting to note the mix of asset classes coming through in developments across the city centre, from offices to student accommodation through to hotels.”
Michael Hawkins, director, national offices, Colliers International
