The Greater Manchester property market is on the crest of a wave following this week’s announcement that the £172m second runway at Manchester Airport will go ahead.
The development will allow the airport to handle up to 30m passengers by 2005, creating thousands of jobs and leading to growth in freight transport. Agents predict that the runway will stimulate inward investment and property development in south Manchester, Wilmslow, Handforth, Altrincham and Warrington.
Amec director Ken Knott said: “It’s a major leap forward in the city’s quest for a genuine world class competitiveness. It is fabulous news for the region as a whole and provides the best possible platform for real economic progress.”
Knott claimed that Amec’s Cheadle Royal business park – where phase 1 construction is underway – and its proposed 92,900 sq m (1m sq ft) Davenport Green international business park, close to the airport, will attract interest from major international high technology companies.
Drivers Jonas’s John Whalley expects an influx of enquiries and business park proposals close to the airport. Axa Equity & Law’s Atlas Business Park would strongly benefit, he said.
Robert Shaw of Knight Frank – who advised the council during the nine-month planning inquiry – and Peter Skelton of Lambert Smith Hampton both mentioned Arlington’s Manchester Airport Business Park as almost certain to benefit from the runway.
Ringway Developments, 49% owned by the 10 local authorities owning the airport, and 51% owned by Amec, Cooperative Bank and Peel Holdings were considering hotel and office schemes as a result of the runway decision, said chief executive Russell Meadowcroft.
Chesterton’s Rupert Barron, who advised the airport authority at the inquiry, queried whether potential development sites could be brought forward quickly enough to satisfy demand. He said that the runway could quickly lead to take up of many existing vacant buildings by construction, engineering, maintenance and servicing organisations.
But Shaw argued that there is ample employment land and existing property available. He said that sites available within drive times of 10 – 20 minutes from the airport totalled 1,070ha (2,650 acres) making encroaching on the Cheshire Green Belt highly unlikely.
EGi News 17/01/97
