Salford’s Growth Looks Set To Continue As 2,000 New Homes Get The Go-Ahead
While many areas across the North of England are enjoying a prolonged spell of growth, it is Salford in Greater Manchester that is currently leading the charge. Dubbed one of Britain’s ‘key growth areas’, Salford has recently been given a further boost as council leaders have decided to allow 2,000 new homes to be built in the city.
Amongst the new developments will be 1,100 brand new apartments in the Quays area, which follows highly successful X1 Media City. X1 developments are continuing their success on the east side of Manchester with the new X1 The Plaza at Eastbank.
These developments will add to the already booming property market in Greater Manchester and enhance the investment prospects that are to be had in the city further.
What Is Driving The Growth?
One of the key drivers of the city’s ever growing popularity is undoubtedly the BBC’s decision to relocate a large part of the corporation to Salford. Dubbed MediaCityUK, the 200-acre site located on the banks of the Manchester Ship Canal has become home to the broadcasting giant, as well as ITV Granada and the University of Salford, amongst others.
This move alone has brought in over £1 billion to the city’s economy and created a staggering 15,500 jobs for local people. Couple this with the influx of young professionals and you have an ideal mix for an upbeat and dynamic city.
Both the finance and service sectors are strengthening in the city too. Tech companies are attracted to the region now thanks in part to the success of MediaCityUK and the talent that found across the Greater Manchester area.
Staggering Growth Looks Set To Continue
The growth being experienced in Salford looks set to continue for the foreseeable future as contagious feeling of success sweeps the city. Over the last five years alone there has been a remarkable shift in the way the council sees the cities future.
17,800 new homes have been granted planning permission in that time and the developments show no sign of abating just yet. Outside of London, Salford currently has the greatest level of population growth in the country and the growing business opportunities here look set to continue the trend.
What The Future Holds For Salford
Overall things look bright for this part of Greater Manchester. With a forward thinking council and more regeneration plans on the way, Salford is in good shape as we move ever closer to 2020.
The Port of Salford, hoped to be fully operational by 2018, is another good indicator of where the city is headed. The £138 million shipping, road and rail terminal will boost the local economy further still and provide even more work for local people.
Building work is well underway on the 154,000 sq ft site and interest in the project is already high. Amongst the first companies to take their place here will be Culina, a logistics business for the food sector. Their presence alone is expected to create around 280 jobs and they are hoping to begin trading from the site as early as March 2016.
With investment such as this regularly coming into the city the coming months and years look set to be exciting for everyone with an interest in this part of the northwest.
Jonathan Stephens is the founder of SurrendenInvest and has a wealth of experience in the property sector and shares his knowledge by writing for property and investment magazines.