Ancoats has grown exponentially in recent years with young professionals flocking to this new and exciting area, in the process helping to make Manchester property investment opportunities ever more attractive than those found elsewhere. A new wave of young professionals is contributing to a growing number of people looking to live in Manchester city centre, with analysts predicting the local population will climb by more than 10% before 2024. A significant portion of this number will be individuals under the age of 25, due to the cities exceptional affordability, great job opportunities and high quality of living standards, ranking Manchester as the UK’s best city to live in the 2021 Global Liveability Survey.
A proposal for a green future in the heart of Ancoats is being put forwards, one that will capitalise on the approved planning for Ancoats Mobility Hub, a hub that will prioritise cycleways, larger footpaths and electric vehicles all within the neighbourhood and beyond.
What’s the cause for change?
A fundamental reason for this change is Manchester City Council’s consultation with those living in the area, enquiring about their public space and providing feedback regarding proposals on improving the neighbourhood. Some residents in the community struggle with street layout and limited access in some places, creating inadequate walking and cycling routes.
The council’s many priority for this project is the creation of 1,500 further homes that will enhance the neighbourhoods appeal, improving the wider area. Once approved the strategy will inform future planning applications in the area, ensuring green spaces and travel, all vital components of Manchester’s ambition to become a zero carbon city by 2038.
What this can mean for investors?
Young adults and subsequently young professionals are among those pushing for a more sustainable future. Manchester City Councils Bev Craig said that the focus for Ancoats’ future development would be underpinned by high-quality green space to create a really attractive place to live and play.
All this means that neighbourhood's such as those planned in Ancoats will only garner more appeal as they are not only located in Manchester, already a trendy and in-demand location to live, but they are also built on a foundation of sustainability. This continued demand could ramp up and increase the value of this already lucrative location. With developers struggling to keep up with demand, there is a clear incentive for investors to push for more development opportunities, whilst purchasing what is available currently on the market. With entry levels in the city still relatively affordable, now more than ever is the time to invest in Manchester.
For more information, please speak to a member of our team on (+44) 0161 509 6205.