PropList Blog
As reported in The Times' property supplement, Bricks & Mortar, affordable homes in the north have boosted the leading cities to the top of the price league, tumbling London and Bristol.
PropList CEO, Richard Howells, shared his thoughts with The Times as to what the underpinning commercial opportunities are doing to the northern regions. In the article, Richard stated that Manchester is currently enjoying a commercial rebirth with quantifiable private investment.
Following on from his Bricks & Mortar comments, below is Richard's in-depth dive into why two northern powerhouses in particular are so desirable to investors and residents alike.
Manchester
"In-line with the residential surge, Greater Manchester is enjoying a massive commercial re-growth at the moment, with a skyline of cranes working across the city, improving the amount of grade 1 office resource in the area, which is in ever short supply. This growth in office requirement in the last few quarters is seen not only in the city, but in the regional centres nearby, with both Bolton and Stockport topping UK office demand, thanks to Music Magpie and Stagecoach relocating their head offices earlier this year.
"The largest volume of enquiries seen through PropList in Manchester is for office space, thanks to amazing transport links and realistic pricing. The retail and leisure leases agreed through the site also remain buoyant in the city centre despite some of the large high street casualties, though local high streets throughout the area are suffering more, with a sharp increase in availability on the site. The hyper-local business rates are seen as more of an immediate concern than Brexit to many small retail owners."
To view commercial properties available in Manchester, click here.
Liverpool
"Liverpool is proving to be PropList’s most attractive proposition for commercial investment. We’re currently seeing a top-heavy demand, in that the requirement for offices, life science spaces and hi-tech manufacturing resource outweighs the stock available. The regeneration is rapidly filling this need though.
"Whilst suffering the same stresses as other locations in terms of retail and manufacturing slow down, Liverpool seems more than prepared to deal with it. With £250m earmarked for road regeneration and route improvement, another £260m being spent on the Anfield project, and £1bn of new investment due soon to the Knowledge Quarter, the coordinated and planned growth of Liverpool will continue for several years."
To view commercial properties available in Liverpool, click here.
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