Residential sector soars in city’s building boom
THE number of developments completing in Manchester has hit its highest level since 2006, the latest Deloitte crane survey has revealed.
A record number of schemes were delivered in 2019, primarily led by the residential sector including West Tower at Deansgate Square, Trinity Blackfriars and the first phase of Manchester Life.
In total, 27 developments reached completion last year, the second highest number ever recorded.
This included 3,619 residential units which were delivered to market, whilst an additional 12,357 units are under construction.
The first student residential development since 2017 was delivered in 2019, with 384 new beds added by Vita Student at Circle Square.
Also under way are the student towers at River Street and Artisan
Heights, set to add an extra 1,410 student beds to the city centre.
With 8,880 of the residential units under construction expected to deliver in 2020, it is expected that 2020 will have the highest rate of delivery since the Crane Survey began 21 years ago.
Simon Bedford, partner at Deloitte Real Estate, said: “In 2014 we saw a huge surge in construction activity across both Manchester and Salford that lasted, in earnest, until 2019.
“Now, whilst the number of new starts is levelling out, we are seeing the results of Manchester’s construction boom reflected in the city’s skyline.”
Sir Richard Leese, leader of Manchester council, said: “New residential schemes have helped to kickstart regeneration in many key areas of the city. Emerging neighbourhoods such as New Islington and Ancoats, are now some of the most desirable locations in Manchester, with a new generation of social housing helping to support tightknit and vibrant communities.”
In the office sector, 427,000 sq ft of space was delivered to market, with major schemes such as Dantzic in NOMA, No.8 First Street and ABC on Quay Street all reaching completion.
Meanwhile, over two million sq ft of office space is currently under construction for the second year in a row. Mr Bedford added: “The strength of the commercial sector is a promising sign for the city, as we continue to see an increased demand for high quality, Grade A office space. Not only is this servicing existing Manchester-based businesses, but we are seeing blue chip organisations opening up permanent, large-scale corporate offices here. When these office schemes are completed and the new space is fully occupied, it is estimated that this will add 15,500 new jobs, £570m in Gross Value Added and £309m in wages to the regional economy.”