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HEAD NORTH WEST GREATER MANCHESTER LIVERPOOL CITY REGION LANCASHIRE CHESHIRE CUMBRIA INVESTMENT GUIDE 2022
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NORTH WEST INVESTMENT GUIDE
F O R E W O R D
“The north
is where the
action is”
In February, I was invited to attend the Convention of the North, a day of panel debates
and sessions hosted by council leaders, metro mayors and the north’s 11 LEP chairs.
Introducing the day’s keynote speaker was Liverpool city region’s metro mayor
Steve Rotheram, whose message to government was: “We welcome levelling up, but
you – the government – can’t do it without us.”
Levelling up, he told the audience, “has to be about more than shiny buildings”.
Levelling up is “righting long-term regional inequalities”.
The keynote speaker was secretary of state for levelling up, housing and communities
Michael Gove, who seemed to agree with the Labour mayor. “Ultimately, we’re all
on the same team. And that is a team committed to making sure the opportunity is more
Miri Thomas equal across the whole of our United Kingdom,” he said, adding that the state has a
editorial director role to play in improving the economic growth and life chances of its citizens together
Insider Media with local government and the private sector.
@MiriInsider It’s important, he added, to ensure that the “economic soil is irrigated” but only through
the empowerment of local leaders can change truly be achieved. He closed his speech
by saying: “The north is where the action is, where I need to be and where I want to be.”
As Insider’s 2022 Investment Guide goes to show, headway is being made to deliver
economic growth. Manchester is a leading city in many aspects, and there are
ambitious, innovative and transformational projects taking place right across the region
– tackling challenges in housing, health, skills and employment alongside world-beating
research and development.
Levelling up is already more than shiny buildings because the North West has a vision
for what it wants to achieve. It has strengths in life sciences, in low-carbon industries,
digital and creative, advanced manufacturing, cyber security and much more.
The North West Investment Guide 2022 focuses on the power for positive change
by homing in on pioneers, place, partnership and potential. It’s just a snapshot
of the work being done in the region by visionaries who are reimagining possibilities
and driving forward sustainable economic growth.
1
NORTH WEST INVESTMENT GUIDE
C O N T E N T S
Greater Manchester editorial director
Miri Thomas
5 In numbers: Regional data
7 Pioneers: Manchester’s mission to become a leading sub-editors
digital city Matthew Rogers
16 Pioneers: What’s next for the city region? Eleanor Harvey
22 Place: Leisure, logistics, workplace and living –
developments moving forward design
31 Partnership: Innovation, collaboration and enterprise Martin Bain
Jonathan Stansfield
Liverpool city region James Hepworth
34 In numbers: How it all adds up senior researcher
35 Pioneers: The Sci-Tech Daresbury expansion in focus Rob Mayfield
37 Pioneers: Plans for new centres of excellence
39 Place: The UK’s largest scale and most ambitious sales
regeneration projects are right here development
director
42 Potential: Freeport ambition
Adrian Simcox
Lancashire property services
45 In numbers: Headline stats sales director
46 Pioneers: How the digital economy is driving growth Avril Walsh
51 Place: We round-up the latest developments
business
58 Potential: Some of the big projects across the county
development
64 Partnership: Leaders look to secure a devolution deal with
managers
the government
Andy Rogers
Michael Stachini
Cheshire
67 In numbers: The local economy
68 Pioneers: Why energy has been a hot topic for some time
70 Pioneers: Electric vehicle commitment
71 Place: Investment in amenities
72 Partnership: Collaboration is key
Cumbria
75 In numbers: Figures at a glance
76 Pioneers: Leaders make confident bid to host the UK’s North West Investment
prototype fusion reactor Guide 2022 is published by
Newsco-Insider Ltd.
77 Pioneers: Expansion plans for the University of Cumbria
Price: £45
78 Place: Tourism is finding a new audience
ISSN 1755-3997
80 Partnerships: How the Industrial Solutions Hub is helping to
regenerate the community Boulton House
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Manchester M1 3HY
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GREATER
MANCHESTER
INVESTMENT GUIDE 2022
S P O N S O R E D BY
SPONSOR FOREWORD GREATER MANCHESTER’S SPECIALIST GROWTH FORMULA Tim Newns, CEO of MIDAS – Greater Manchester’s inward investment agency, puts innovation and specialist subjects at top of growth agenda Over the past 12 months Greater Greater Manchester has been named as Manchester has demonstrated an intense one of three UK Innovation Accelerator desire for growth and a distinctive locations, which will support us in ability to achieve it – with resilience, skill delivering these goals, whilst putting and new thinking attracting major new clean growth at the centre. investment to the city region. This is a city region-wide effort already Two years on from the start of the in motion, with all ten boroughs of pandemic and despite huge economic and Greater Manchester taking a role – such social challenges, Greater Manchester’s as Rochdale becoming home to the international profile has continued to multi-million-pound new Advanced thrive. A unique mix of specialisms Machinery & Productivity Institute and the development of world-class (AMPI), which will play a leading part facilities and research institutions, such 2038 target, green innovation is playing in our globally renowned advanced as the Henry Royce Institute and the a significant role within the Greater manufacturing and advanced materials new Christabel Pankhurst Institute have Manchester business community and community – developing the machines created a powerful formula for growth. creating export opportunities to support of tomorrow. The city region’s digital and innovation carbon reduction globally. Further major investment relationships sectors have shone, making a name for This aptitude for innovation has a are currently being developed – with the themselves nationally and globally. In a year fundamental role in the UK’s levelling focus on bringing more high-quality jobs, when Salford’s MediaCityUK celebrated up agenda. But for this to become a specialist sector investments, company its 10th anniversary and revealed new reality, the business benefits of Greater HQs and partnership opportunities, developments plans after the acquisition Manchester and the North need to to the region. This makes a compelling by Landsec, the city region’s next big be fully understood – and innovation proposition for global businesses looking growth stories are also underway. Cyber investment must continue. to invest – and last year 77% of inward security, eCommerce, digital health, Innovation GM, which launched investment deals MIDAS supported fintech and video game development in 2020 as part of the city region’s were international. are among the rapidly growing industries Economic Vision, is our blueprint for The true value of our region goes that are part of Greater Manchester’s working with Government to support beyond overhead cost reduction and booming £5bn digital ecosystem. innovation, R&D investment and jobs appealing cost of living comparisons. As we take fundamental steps towards throughout the city region. This has For Greater Manchester, the growth our city region’s own net carbon neutral been recognised by government level as story is just getting started. www.investinmanchester.com • @MIDAS_MCR
GREATER MANCHESTER
I N N U M B E R S
CUMBRIA
LANCASHIRE
ROCHDALE
Greater BOLTON
BURY OLDHAM
Manchester WIGAN
SALFORD
ER
TAMESIDE
ST
HE
NC
LIVERPOOL CITY
MA
TRAFFORD
BUSINESSES BY STAFF REGION
STOCKPORT
MICRO (0 TO 9 STAFF) 105,035
SMALL (10 TO 49 STAFF) 15,840 CHESHIRE
MEDIUM-SIZED (50 TO 249 STAFF) 3,570
LARGE (250+ STAFF) 560 POPULATION (2020)
TOTAL 125,005 2,848,286
Source ONS Source ONS
TOP COMPANIES
COMPANY LOCATION TURNOVER £M PRE-TAX PROFIT £M EMPLOYEES YEAR END
1 CO-OPERATIVE MANCHESTER 10,860.0 67.0 21,395 JAN 20
2 JD SPORTS FASHION BURY 6,167.3 324.0 37,297 JAN 21
3 LOOKERS ALTRINCHAM 3,699.9 2.0 7,489 DEC 20
4 KIER SALFORD 3,261.0 5.6 11,710 JUN 21
5 AO WORLD BOLTON 1,660.9 20.2 3,916 MAR 21
6 THG MANCHESTER 1,613.6 (534.6) 6,083 DEC 20
7 TALKTALK TELECOM SALFORD 1,348.0 28.0 2,001 FEB 21
8 NES GLOBAL TALENT ALTRINCHAM 1,113.5 (43.8) 1,166 OCT 20
9 ADIDAS (UK) STOCKPORT 1,045.3 24.4 1,145 DEC 20
10 PAYSTREAM MY MAX ALTRINCHAM 976.6 6.6 12,574 MAR 21
Source Insider research, Experian MIQ 2022
GROSS VALUE ADDED BY INDUSTRY (£m) OFFICE MARKET*
10000 CITY CENTRE HEADLINE RENT £38.50 PER SQ FT
OUT-OF-TOWN HEADLINE RENT £24 PER SQ FT
Real estate activities 37.3%
UNDER CONSTRUCTION 373,000 SQ FT
(PRELET 47%)
8000
32.3%
Manufacturing PRIME YIELD 5%
*As of Q4 2021 Source Avison Young
6000
Professional, scientific
and technical activities
74.0% HE STUDENT ENROLMENTS by HE provider
ion 36.0%
Construct THE UNIVERSITY OF MANCHESTER 40,485
4000
THE MANCHESTER METROPOLITAN UNIVERSITY 33,420
nication 57.7% THE UNIVERSITY OF SALFORD 21,500
Information and commu
THE UNIVERSITY OF BOLTON 8,175
2000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 ROYAL NORTHERN COLLEGE OF MUSIC 890
Source ONS Source HESA
5
SPONSOR FOREWORD
PROPERTY TRENDS IN
THE ADAPTABLE AND
RESILIENT NORTH WEST
The North West remains one of the hottest real estate investment markets outside of London
Diversity has been key to the North West’s have built property portfolios to provide
success. Property developers vary a great income and act as showpieces for
deal in size and focus in the region, and regeneration, making use of various
have been able to innovate and take types of funding at low rates. As well as
advantage of changes in market housing, councils have bought shopping
conditions, public sector opportunities centres such as Hounds Hill in Blackpool
and regulatory changes. and Spindles in Oldham, as the
The residential tower boom in Liverpool, centerpiece of town centre regeneration.
Manchester and Salford continues, Partnerships between developers and
as PRS investment grows, alongside the public sector bring together external
some buyers departing to look for funding and sector expertise.
green space during the lockdown stamp Retail and leisure demand imaginative
duty pause. Student accommodation solutions from developers and investors,
is up again as the universities return to with large properties increasingly used
in-person teaching. Creative residential for competitive socialising concepts such
regeneration plans are being brought as escape rooms or crazy golf. As such,
forward such as the inter-generational buildings that move between commercial many emerging and established leisure
living scheme at St Thomas Hospital site uses (and into residential) increasingly operators are now taking advantage of
in Stockport. common. This could benefit our town the opportunity to secure prime city
Brownfield housebuilding is thriving centres, kickstarting areas previously centre space such as former department
too, boosted by a relaxation of designed for ‘high street’ shopping into stores, which would previously have
planning requirements, and commercial residential areas. Tech-savvy developers been unavailable to them.
developments such as the Hut Group who can meet the increased IT The big issue that touches everything
project at Airport City Manchester are requirements of a flexible workforce, is sustainability. We all recognise that
growing. The science and medical travelling to the office when needed there will soon be a tipping point when
research focus at the Birchwood but keen to live in the heart of our cities either regulatory coercion or stakeholder
Technology Park near Warrington and while working from home using Zoom pressures force buildings to demand less
Macclesfield’s Alderley Park widens and Teams, can transform and enhance of our planet. There is an urgent need to
the spectrum still further. ex-retail spaces. retrofit the UK’s existing housing stock
Flexibility is vital. Recent changes Budget cuts have forced local authorities and develop electric vehicle charging
to use class regulations will make to become more creative, and many infrastructure, to help achieve net zero.
John Hyde, partner • www.tltsolicitors.com
GREATER MANCHESTER
P I O N E E R S
“A model city for the
21st century”
Manchester is making great strides in its ambition to become a leading digital city
Manchester is the second regional tech
city in the UK thanks to its combination
of high levels of venture-capital funding,
available tech job opportunities, adver-
tised tech salaries, number of high-growth
tech companies and future high-growth
companies, according to analysis from
the UK’s Digital Economy Council. The
ranking places it second to Cambridge
and ahead of third-placed Oxford.
According to the research, which was Cloud Imperium Games,
compiled for the Digital Economy Squadron 42
Council by Dealroom and the job
search engine Adzuna, there are nearly
10,000 available job opportunities in
Manchester, a 164 per cent increase
on 2020’s figures, with an average Manchester
Goods Yard
advertised salary of £52,144.
Among the tech businesses confirming
their commitment to Manchester is Carl Jones
Cloud Imperium Games, which will
open a new game development studio in says the fit-out will be “extraordinary”
Manchester’s emerging Enterprise City in order to attract and retain highly
district, scheduled for May 2022. The sought-after staff. “We’ll have extensive
Manchester studio will bring more than Speaking of the decision to relocate, collaborative areas, cinema space for
700 jobs to the metropolitan area by 2023, Cloud Imperium’s chief operating officer people to play the games and a very
and over 1,000 within the next five years. Carl Jones told Insider: “Everyone knows exciting design for our canteen area.
The company currently employs Manchester is an incredibly creative, We try to immerse people in our universe.
more than 700 people worldwide, modern city. I think it’s a model city for There are elements of our office that will
approximately 450 employees based at the 21st century. Enterprise City won out look like you’re experiencing elements
its current UK studio in Wilmslow, because of the combination of the loca- of our game. Whether that’s a hangar for
Cheshire. The Wilmslow team will tion, the building we could take and the one of our ships, or a bar from one of our
relocate to the new office at what’s set incredible hub of creative businesses.” cities, it’ll be an exciting space.”
to become the heart of Manchester’s Taking almost 90,000 sq ft in the The plans to grow to 1,000 people in
media, tech and creative cluster. Manchester Goods Yard building, Jones Manchester effectively see the business
Continues on page 11 ➤
7
A WORLD
CLASS
BUSINESS
CITY
REGION
Manchester is a world class
city region that offers a
fantastic environment for
businesses to grow and
prosper.
Combining core strengths across Home to a thriving £5 billion
digital, innovation and low carbon digital ecosystem, Manchester is
with global transport connectivity, officially the UK’s Top Digital Tech
incredible talent and high-quality City and its reputation for the
business properties, it is one of the radical has seen it take a leading
UK’s fastest growing regional position across established and
cities and a first-choice investment emerging digital sectors, creating
destination for many leading commercial opportunities, and
international brands. leveraging tech to transform
tomorrow’s business landscape.Laying claim to 25 Nobel As the ‘World’s 6th Greenest City’
Laureates and infamous for (Resonance World’s Greenest Cities
spearheading the Industrial 2021), Manchester is playing a
Revolution, Manchester has a leading role in developing low carbon
deep-rooted history of discovery solutions for smart energy,
and invention. Today the city retrofitting, transport and much more.
region powers global innovation With an ambitious target to be carbon
through its unrelenting curiosity, neutral by 2038, there are a number
world class research institutes of major development projects in
and collaborative eco-system. progress and over £1 billion of green
investment opportunities available.
investinmanchester.com | @ MIDAS_MCRADVERTISEMENT
Landwood, The North
West’s Recovery Experts
Helen Jude, Property Director
The pandemic is reshaping the way firms do This combination proved significant in a recent case,
business across the country. As a result, some have where the speed of our solution was instrumental
been forced to close their doors. Others have had to in the buyer of a residential development avoiding
radically alter how they operate. Now rising inflation having to replace an expensive timber frame erected
and spiralling energy costs are piling on further on site that risked being irreparably damaged by
pressure. prolonged exposure to the elements.
To help North West Businesses Insider understand What should firms do when they are faced with
this fast-changing landscape, we caught up with the closure of their business?
Helen Jude, Property Director at the Manchester-
headquartered Landwood Group, who operate across When firms fail, it’s vital to consult recovery experts.
the North West. An expert in corporate recovery, she As property and business asset experts, specialising
gave us insight into key trends and predictions in the in recovery, we will assess and advise on the most
sector, as well as some expert advice for firms facing suitable approach to extract the best-possible returns
challenges. from what assets remain. This could mean holding
an auction of remaining equipment and material.
What changes to the business landscape will
For example, we sold the manufacturing assets
we see in the coming months?
and stock of Total Glass Ltd, which went into
Sadly, the coming months will see more and more administration in 2020. Thanks to a highly effective
businesses go to the wall. marketing campaign, which attracted unprecedented
numbers of viewers and bidders, we successfully
They face unprecedented pressures on multiple raised well over £800,000.
fronts - from the government’s remaining Covid
support measures being withdrawn, to rising inflation How do you help maximise returns?
and spiralling costs of raw materials and utilities.
We provide a full range of services from securing
the site and assets, appraisal and valuation of the
How have these ongoing challenges affected
property and assets, through to the marketing and
the property sector? sale of the property and business and machinery
For property developers, the problems are particularly assets - all in an effort to maximise realisations.
acute. Some report that build costs can in some
cases now be as much as 30 to 40 per cent higher Most of the experts at Landwood come from
than initially anticipated - putting extraordinary an insolvency background and have extensive
financial pressures on projects. experience of dealing with recovery situations on
behalf of banks and insolvency practitioners.
We are seeing the impact of this on the increasing
amounts of part-built sites we are being enlisted to We are experts in corporate recovery and work
advise on. closely with Insolvency Practitioners, businesses,
their lenders and advisers. So, while there will
They can prove exceptionally complex to unpick, inevitably be difficult times ahead, we are ready to
but with our own in-house building consultancy and provide the stand-out advice and service to help
surveying division, we can assess where and how navigate them.
these projects have gone wrong and contribute to
devising the best approach to recovery. For more information, email helen.jude@
landwoodgroup.com or call 0161 710 2010GREATER MANCHESTER
P I O N E E R S
double in size in the UK. “We’ve expanded “We need to be of studios, duos, trios and quad apartments.
our Wilmslow office from 20 people Investment firm Cain is providing £148m
to 450 in the last six or so years and we
religious in our in financing for Vita’s scheme with PGIM
hire from all over the world,” says Jones. pursuit of tech, Real Estate providing an additional
“Manchester’s a good place to be; it’s media and creative £43m. Tower one of the Denton Corker
making hiring easier for us. I think the Marshall-designed scheme is expected to
talent pipeline is as good as anywhere
industries.” complete in spring 2024, with tower two
else in the world.” Michael Ingall, following suit in the summer of 2025.
Enterprise City is a new district of Allied London Enterprise City is spearheaded by
Manchester, part of the wider St John’s property development and investment
neighbourhood which combines work- of spaces to accommodate a range of company Allied London, which also
spaces, cultural spaces, and bespoke growing startups, independents, developed the city’s iconic Spinningfields
city-centre living. All told, the St John’s SMEs and industry-leading global brands, district.
masterplan once complete, will offer including connected vehicle data Michael Ingall is Allied London’s
some 320 hotel bedrooms, 560,000 sq specialist Wejo, Booking.com and WPP. It chairman and chief executive. Speaking
ft of office space, 240,000 sq ft of retail will also be home to Manchester Studios, to Insider in November 2021, Ingall
and 13 acres of public realm. Designed to a new TV broadcast and film studios facility. unveiled his vision. He says that by the
be the home and headquarters of global The area’s residential element will see summer of 2022, the “principal parts” of
media, tech and creative businesses, Vita develop Union, comprising 1,676 Enterprise City will all be operational. This
Enterprise City is creating a diverse range beds over two residential towers in a mix includes Manchester Goods Yard (Cloud
Imperium and Booking.com’s new home);
Making the move
the Globe Building (WPP’s home); more
workspace in Transmission and Cube
Manchester’s two economic priorities are being a “leading digital city” and a Space; Deuce & Hoops (basketball,
“leading green city”, says Tim Newns, chief executive of Manchester’s tennis and netball court with clubhouse)
inward investment agency MIDAS. Technology is at the heart of both. As well as and Grape Street Deck – a food market.
Cloud Imperium, there have been several other recent announcements of the The following year will see the opening
creation of tech jobs in the city region, among them are companies like Roku and of The Factory, a venue for dance,
PwC. Also significant is the volume of public-sector relocations to the city region. theatre, music, opera, visual arts, and
In December, Building Digital UK (BDUK), which is delivering the government’s popular culture.
£5bn Project Gigabit, announced it was setting up its head office in central Enterprise City, says Ingall, will “feel
Manchester. Further, some 420 business department jobs (BEIS) will be brought very different” to Spinningfields, which
to Salford by 2025, which is expected to increase to up to 570 by 2030. has attracted more corporate occupiers.
Newns says: “To have central government’s policy team for low carbon centred “It’s going to be more diverse. We need to
here is a real benefit. The Home Office is recruiting hundreds; a lot of those are be religious in our pursuit of tech, media
tech jobs. We’ve had the Competition & Markets Authority announce that it's and creative industries and providing we
coming to Manchester. That’s a couple of hundred people in tech primarily.” stick to that I think it will have equal impact
Increasingly, Newns says, Manchester is becoming the first choice for businesses. but in a very different way. We were
“A few years ago, we would have been maybe at the second-stage investment; fortunate to attract one of the UK’s largest
they’d come to London first – like OakNorth,” he says. “Now we’re seeing a lot more institutional real estate investors, Aviva,
of that virgin investment coming here. We’re seeing a lot more HQs consolidating which has been the most fantastic partner.
here. At this point in time, 30 per cent of the projects that we've secured since We wanted a long-term investor on the
April [2021] have been HQs. That's quite a big shift. For high-growth companies estate so we could keep it as a whole, as
that are scaling up, absolutely we're seeing them look to Manchester.” a place.” Ingall has plans to develop the
area out in its entirety by 2024.
11GREATER MANCHESTER
P I O N E E R S
Routes to market
Supporting the business community in “We’ve got more to do,” she says. “Now
the north is Manchester Airport – the that we're starting to see the recovery
UK’s third largest. The airport’s long-haul come in a consistent, sustainable way, we
catchment area includes around 22 will certainly be looking to get sign-off on
million people and 60 per cent of all UK that next phase of build.” This, she expects,
businesses within a two-hour drive time. will see spades in the ground before the
“We add, as an airport, £4.5bn to the end of 2022. “We're confident that we
regional economy on an annual basis in are starting the recovery and recovery is
the North of England, pre-pandemic,” here to stay.”
says Karen Smart, Manchester Airport’s Currently, the airport serves more than
managing director. She adds: “We are an 110 destinations in 42 countries via
economic enabler for the north. When an 30-plus airlines. In 2019, the airport
airport is doing well, the region is doing served 210 destinations with 70 airlines.
well.” This includes job creation, as well Karen Smart Smart says the airport is working to
as trade and investment opportunities, bring more routes back as the economy
tourism, and overseas students. projection. “We were way ahead of our rebounds. “We are incredibly passionate
She gives the example of the direct time in terms of meeting it.” about getting a lot of these routes back in
route to Beijing, which was introduced in The airport recently completed phase the North West. We've seen great progress
2015. “Just two years after the launch, the one of its £1bn-plus investment programme, for the long-haul carriers – Qatar, Emirates,
total boost to the visitor economy broke which saw the extension of terminal two. Etihad, Cathay, Singapore, Ethiopian
the £260m barrier.” This, she says, was Taking a pause during lockdowns, Smart and Virgin and a new transatlantic route
the pre-route ten-year economic benefit is getting ready to take the brakes off. with Aer Lingus.”
13GMI AT THE CENTRE OF THE LEVELLING UP DRIVE ACROSS THE NORTH GMI Construction Group continues to play its part in levelling up the country by delivering on a host of major construction projects that will create jobs and stimulate economic regeneration One of the largest independent construction companies across the GMI built Dakota, North of England and the Midlands, it Manchester has experienced significant growth over the past 18 months as it diversifies its extensive portfolio. Lee Powell, recently appointed to the newly-created position of CEO, said: “We have achieved strong, but organic growth, throughout our four divisions in Yorkshire, the North West, Midlands and North East. “I want to further build upon our deserved reputation for delivering high quality, energy efficient, and often highly-complex construction projects spanning multiple sectors, including is forecasting an annual turnover in excess and manufacturing hub with the manufacturing, retail, residential, office of £350m for 2022, having already potential to create 300 new jobs and logistics. secured £300m worth of pipeline. ● New Cross development consisting of “This year we are preparing to expand Its current projects include: 305 apartments in Manchester City into other regions and sectors, and I’m ● £200m development to create a train Centre sites at Oldham Road and focused on taking this business to manufacturing plant, infrastructure Bendix Street the next level through constant but and rail supply chain village for Sie- ● MA6NITUDE at Middlewich, equating controlled growth, while maintaining our mens Mobility in Goole, East Yorkshire to 350,000 sq. ft of development in a debt-free status. ● £30m extension to a helicopter burgeoning area of Cheshire “GMI is main contractor for a range of manufacturing facility high-profile projects that are breathing ● £30m office building at Thorpe Park, GMI Construction Group already new life into areas that have experienced Leeds counts major companies and significant economic decline – developments that ● A new-build residential block brands such as Tritax Symmetry, St will create jobs and stimulate long-term comprising 259 apartments, forming Modwen, Scarborough Group, Graftongate, economic regeneration.” part of the £200m Becketwell St James Securities, The Alumno Group, The business, with offices in Leeds, regeneration scheme in Derby Opus North, HBD, Peel Land & Property, Manchester, Birmingham, and Teesside, ● 420,000 sq. ft West Yorkshire Logistics Muse, Legal & General, and Evans
ADVERTISING PROFILE
Property Group among its clients. logistics and distribution centres.
Lee, previously the company’s GMI, which constructed Tesco’s giant
Divisional Managing Director for 700,000 sq. ft distribution facility
Yorkshire, oversaw exceptional growth in at Fradley Park, near Lichfield, continues
the region, growth now being replicated to be involved in a range of major
across its other divisions. projects, including a 195,000 sq. ft
industrial unit and 30,000 sq. ft o office
Marc Bancs,
North West GMI’s North
space at Harrier Park, Hucknall, and a
This is typified by the success achieved West MD 119,00 sq. ft warehouse and 103,067
by Marc Banks who three years ago was sq. ft warehouse including offices, both
appointed North West Divisional Manging at Burton Gateway, Branston.
Director. Cheshire, for Tritax Symmetry, and The company has a long association
Marc, who joined GMI Construction the 94,000 sq. ft Kirkby Retail in the North East, recently underlining its
as a 16-year-old apprentice and who Development, together with a 42,000 growth plans by establishing an office in
progressed through the roles of Quantity sq. ft Morrisons store and petrol station. Stockton-on-Tees and appointing Gary
Surveyor and Commercial Director, Marc said: “The North West is Oates as Operations Director North East
established an office in Manchester and incredibly important for GMI, which is and Paul Raine as Commercial Director.
has since built an exceptional team. firmly part of the construction boom Previous projects include The Centre
The division is now recognised as a currently sweeping the region, creating of Excellence in Sustainable Advanced
major player in the North West new infrastructure and a stronger economy.” Manufacturing (CESAM), part of the
construction sector, with recent and GMI Construction is also heavily International Manufacturing Park (IAMP)
current projects including the seven- invested in the Midlands, home to the and the 436,000 sq. ft Vantec III distri-
storey Malmaison, Manchester; a UK’s largest and most important l bution facility for Vantec Europe.
305-apartment development in the city’s ogistics hub due to its central location It is currently on site at the £30m Hillthorn
New Cross district, and the nine-storey and concentrated transportation network. Business Park development which will
Church Inn student accommodation. It is home to a ‘golden rhombus’ of support the needs of industrial, advanced
Elsewhere, it is main contractor in the logistics, stretching from Derby to Milton manufacturing, storage, and distribution
development of three units providing a Keynes, which represents an economic businesses in the Sunderland area.
total of 350,000 sq. ft of logistics powerhouse. This is where it founded its Lee Powell added: “GMI Construction
space at MA6NITUDE in Middlewich, reputation for delivering on large-scale has come a very long way since it was
founded in Leeds in 1986 but we have
maintained our core values of honesty,
integrity, and reliability.
Church Inn, 62 “It’s a business that is client-driven
student apartments and one that counts those clients, many
in Manchester for
Alumno Group of whom have been with us since those
early days, as friends.
“As the UK continues to level up across
all key regions, I want to ensure GMI is
right at the heart of that growth and to
ensure this business continues to grow in
a responsible and measured manner.”
Contact mark.banks@gmicon.co.uk
Carvers Warehouse, 77 Dale Street, Manchester M1 2HG • 0161 3024503GREATER MANCHESTER
P I O N E E R S \\ I N V E S T M E N T F O R U M
Staying ahead
of the game
Greater Manchester’s recent wins and their significance: Insider’s round table
gathers key stakeholders to debate what’s next for the city region
n Steven Heales new products and services to come
AROUND THE TABLE
Strategy Innovation Greater Manchester forward. We need to back businesses
• Jessica Bowles is aiming to take a business-led so they can bring solutions to the
director of strategy, Bruntwood
approach to innovation and growth market. We are starting to see
• Ed Ellerington in the city region. There are a number products already, such as [graphene-
founder and managing director,
of innovation zones being brought enhanced] Concretene.
Packaged Living
forward, like Salford Crescent
• Chris Reay
property director for MediaCity, and ID Manchester. n Jessica Bowles
Peel L&P Rochdale secured more Innovation Bruntwood formed a
• Matthew Walker than £40m in govern- joint venture with the University of
client business development ment funding for an Manchester and Legal & General
director, GFT Advanced Machinery Capital to turn ID Manchester from
• John Hyde and Productivity Institute. vision to reality. It’s a ten-year pipeline
partner, TLT Partners have come of developments. It will stretch from
• Maggie Grogan together with a vision to create a Oxford Road through to Piccadilly
development director, sustainable materials hub that will sit station; a district that draws on the
Muse Developments alongside it. That could be a really university’s strengths in graphene and
• Georgina Lord powerful case study of how you can materials, in AI and digital. It won’t just
chief customer officer, Verastar level up places while allowing businesses be a centre of learning but somewhere
• Richard Lace to be in the driving seat. you can commercialise IP and drive
transactions & asset management, OBI We are looking to create jobs and growth for the people
• Adnan Siddiqi an ecosystem that will help of Manchester.
managing director, businesses thrive and sup- Milestones At Bruntwood
Amstone Developments
port them to be platforms SciTech, [new building]
• Steven Heales for inward investment and Base topped out and we
h ead of science and economic
maximise their impact. How expect people to come
policy, Greater Manchester
Combined Authority we involve more private-sector into it over the next year. It will
companies is something we’ll focus on. be operationally net-zero carbon.
Green agenda The net-zero piece is a Citylabs 3 and 4 are coming out of the
huge catalyst for innovation. If we want ground and Circle Square is starting
to get to net zero as a place, we need to fill up. Bruntwood Works bought
16S P O N S O R E D BY
Standing (from left): Matthew Walker, Maggie Grogan, Chris Reay, Richard Lace, Jessica Bowles, Steven Heales and Georgina Lord.
Seated: Ed Ellerington, Adnan Siddiqi and John Hyde
Pall Mall on King Street and we expect an infrastructure project that bridges a delivery plan and we’re already
to add that to our Pioneer programme a main road currently breaking up the working on the first few projects. There
which includes 111 Piccadilly, Bloc innovation zone. It’s also about will be other funding required, but we
and Blackfriars. making the community feel are already out there designing those
The future There is a really part of the university. buildings. Having those projects ready
exciting agenda in how you Inclusivity A lot of what to go is what gets you in the door with
use all the innovation, IP, we’re trying to do at Salford [public] funding.
skills and talent in the city to Crescent is about skills and
rejuvenate and support the upskilling. The university has n Chris Reay
towns around it so that you get a bid in for the Institute of Tech- Milestones We’ve now got a partner [in
properly mixed-use town centres. You nology. The end goal is not just about LandSec] that owns 75 per cent of the
can see a different future for the towns bringing in business but involving the estate. We’re retaining 25 per cent.
of Greater Manchester if you can har- community and getting them into They have come with a lot of ambition
nessthat innovation base and connect apprenticeships, into startups and a willingness to invest in the
it with an ecosystem that is generating and making sure it is a 24/7 estate. In 2022, we will be
the right businesses and skills to match. area. We don’t want it to feel bringing forward a planning
like a business park that only application for the next
n Maggie Grogan gets a nine-to-five occupan- major workspace building
Vision We are all part of the ecosystem cy; we’ve got residential in – a leader in sustainability
and want to ensure it works the Innovation Zone as well. and technology credentials.
together. The Salford Rise money Progress We’ve got the development We’re looking at the future
[£13m of levelling-up funding] is for framework for the area, we’ve got masterplan of the estate and whether
17GREATER MANCHESTER
P I O N E E R S \\ I N V E S T M E N T F O R U M
it addresses future needs. expansion and has all the With a hub in Manchester city centre,
We may look to create infrastructure we need. people can also commute in – we’re
new partnerships to It’s got an abundance of near Piccadilly Gardens so it’s easy
address the linking of digital skills and has a access to the train station, Metrolink,
industry and academia. good client base for us. and bus routes. It’s really worked for us.
We already do quite a Expansion plans We Sale is important as our head office. It’s
lot, such as the Salford
“We’ve had to shortlisted ten spaces where 600 colleagues are based and
University campus and
think hard about across the city centre and it’s a great location for us. There is no
the Salford Innovation
our salary levels chose WeWork in No.1 plan for us to only have a city centre
Triangle, which links in
and ensure we Spinningfields. We have location and there is no plan for us to
with Salford Crescent.
are offering a a dedicated space for only ever enable home working.
I’d put HOST – the
better standard 40 people. We’re going Staffing We’ve recruited 200 people
Home of Skills and
of living for from zero – I’m effectively in Greater Manchester in the last
Technology – into
individuals.” the first employee – and 12 months. What we’ve found is that
that, too. It has a big Georgina Lord we’ve had 20 people the pool is shrinking. These are for
footprint on the estate: join by September. entry-level roles predominantly and
75-plus tech startups, Through 2022 we are we are finding that the talent is moving
a partnership with GCHQ and the looking to add ten people a month. towards hospitality. We’ve had to think
Manchester-India partnership. We weren’t sure how fast that could hard about our salary levels and ensure
Potential The whole site is around 37.5 go. The tech market for recruitment is we are offering a better standard of
acres, and half of it is developed. The very hot and we’re finding that salaries living for individuals.
remainder probably translates to are very close to what we’d pay in
around six or seven large plot sizes London. We’ve committed to WeWork n Adnan Siddiqi
for buildings. We have outline consent until April, so we’ll see where we go Lifestyle choices It is really
for 500,000 sq ft of workspace, and from there. After recruiting 100 in interesting to hear
I think we will increase that at the cost Manchester, we will look at possibly that businesses are
of some of the residential. We feel Newcastle or Edinburgh. coming back into
that’s more additive to the economy; the city centre and
we want to create more jobs here. n Georgina Lord expanding. As a
MediaCity, across 1.5 million sq ft, is Plans to grow We’ve invested in office property developer
currently at 96 per cent contractual space in the last 18 months. We moved I am trying to educate
occupancy. While that’s great, we out of an office in Wythenshawe to the myself. Are people going to be work-
haven’t got the space to respond to head office in Sale. That’s given us a far ing three days in the office, two days at
large requirements. better environment for colleagues – home? Do we put in more balconies,
there is an onsite gym, restaurant more outdoor space? Do we create
n Matthew Walker and bar. It’s a great space for more workspace? If people change
Why Manchester? GFT is colleagues to collaborate their lifestyle, they change their needs
a global technology and meet people. We’ve and demands from residential.
consultancy firm head- invested in Bloc [to occupy Confidence The levels of employment
quartered in Stuttgart 106 flex workstations at the we’ve spoken about makes me feel
which recently expanded into Bruntwood Works city centre more confident in delivering more
Manchester, opening an office there building]. Some people like to drive to homes. We’ve submitted a planning
in September. We looked at different work, have a car-parking space and be application for a 560-unit scheme at
regions in the UK. Manchester was the near to a school facility so we recruit the heart of Stockport town centre.
obvious choice. It is the first stop on our a lot from the local area around Sale. We want to create something special
18S P O N S O R E D BY
and bring to Stockport a city centre in Manchester? Yes. But what I don’t continued offering and supply pipeline
living product. We’ve got the best part think works is just having a co-living in the city. If you look within the
of an acre of green space within our block. Co-living has its place in the traditional confines of the city centre,
scheme; we have a rooftop garden and right community, in the right setting. a lot of the sites have been developed.
rooftop running track. We will create Investment Manchester has been so It’s about making sure we’re kicking on
a Manchester city centre product for successful, the danger is that other with the next phase. And we’re seeing
people who don’t necessarily towns and cities will steal a march. the makeup of investors changing from
want to live in a city centre. Manchester has to go to the domestic money to foreign money.
I am hoping our residents next level to stay ahead of the
will be people who don’t game. One of the issues we n John Hyde
want to commute but still have in the living sector with Continued growth We opened in
want the vibrant environ- [international] money is that Manchester nine years ago and if you
ment of a town centre. It will if they want to deploy £1bn, we look at the spirit of Manchester, it’s all
combine build-to-rent with homes don’t have a Chicago, Los Angeles, about relentless growth, optimism and
for sale, and possibly some senior or New York. We have London, Man- can-do. That, together with a great
living. It’s a mix of apartments and town chester, Birmingham. If you could talk pool of skilled labour,
houses. We’re looking to start on-site in districts, and see Greater Manchester meant Manchester
the summer of 2022 with the first units as a Chicago, then investors could was a no-brainer
delivered about a year thereafter. put their money into, say, Stockport, for us. We still
because to them it’s still Manchester. haven’t opened
n Ed Ellerington in Birmingham.
Lifestyle choices In the post-Covid n Richard Lace Manchester is
world, we will move from something Variety We saw a lot of speculative open for business; it’s
being [just] office, residential, or leisure development in Manchester and inclusive, collaborative.
and into something more mixed. The there was a question mark as to how Pipeline The pipeline for the large-
idea that ‘I work here, but I live here’ successful it would all be. Thankfully, scale city centre office schemes or
has gone; it doesn’t matter. That’s what we have seen investment both locally large-scale distribution hubs is going
we like about Piccadilly East. We felt and from inward investors. to be quite challenged. However,
there was a lot happening Community Five or ten there seems to be a limitless stream
there. When we sold that years ago when an occupier of regeneration opportunities. We’ve
building [The Castings] to would give us their brief, it worked on the New Bailey letting to
CDL, a hospitality REIT would be about specifi- BT. It was a great case study, as we
based in Singapore, cations, the glazing, the acted for a local authority that has
they liked the idea of floor-to-ceiling heights. forward-funded the development.
community. As part of Now they don’t really A classic example of how opportunities
the hospitality industry, think about the office come forward by collaboration.
they thrive by having “We’re seeing ‘product’. It’s about who What’s next I want to see more
other sectors around the makeup of they are going to be devolution. Where research and
them. investors located next to and the development is concerned we are
What’s next? For us, the changing amenity that is going to world leaders already. I want to see the
next step in Greater from domestic supplement their office. expansion of the manufacturing that
Manchester is growing money to Pipeline It’s now about sits behind that. The net-zero agenda
our single-family foreign money.” looking forward to the has shown real leadership, and there
housing offering. Richard Lace next five to ten years and is now a sense of a tipping point where
Would we do co-living ensuring there is that we can demonstrate tangible benefits.
19ADVERTISING PROFILE
FUTURE AMBITION
BOLTON 2022 –
£100 MILLION PLAN TO
STIMULATE REGENERATION
We are making Bolton a great place to live, work, study, visit and invest
Bolton Council has committed £100m to make our a new generation of health professionals and inject
ambition a reality, across six town centre intervention £150m into the local economy.
areas and four district centres. The money is being used Plans for Bolton’s district centres are underway,
to acquire and remediate brownfield sites, improve Farnworth will see its precinct transformed into
public urban spaces and attract private sector investment a vibrant town centre community by developers Capital
needed to help deliver the development schemes. and Centric, including new homes, commercial
Two major town centre residential schemes, are spaces, linear park, and town centre square planned.
expected to start construction in early 2022. Place First’s Farnworth Leisure centre will also benefit from an
Central Street development will create over 150 homes, extension and redevelopment.
commercial and retail units. Little Lever Library and Health Centre has been
The four-and-a-half-acre Moor Lane development completed and improvements are planned in Horwich
will feature 208 new homes, in partnership with Bolton and Westhoughton to pedestrian paved areas. These
at Home and Step Places. projects are part of Bolton Council’s £16m package of
Bolton’s Towns Fund projects starting in 2022 include support to kick-start district regeneration.
the Wellspring Digital Hub, an innovation hub for Bolton Alongside partners and developers we are continuing
businesses, renovating Bolton Library Museum and to demonstrate our commitment and ambition to
Aquarium and modernising Bolton Market make Bolton a success and accessing funding is an
The creation of Bolton College of Medical Sciences in important part of our strategy to attract people
Farnworth, utilising the Government Levelling Up Fund, and businesses into our town focussing on the appeal
will create a unique £30m centre of excellence to train of diverse and varied amenities.2,000 BOLTON
more residents in REGENERATION
the town by 2030 BEGINS
We are driving forward major
transformational projects in
partnership with the private sector
and stakeholders and with support
7,400 from government funding. This is
a very optimistic time for Bolton,
new jobs we are at the start of making our
plans a reality, with development
activity beginning at two of our
Town Centre sites, Moor Lane and
Central Street and much more
development progress in the
£16m pipeline.
We are set to create fantastic
for Bolton facilities, using the Town’s Fund,
District Centres for new residents, businesses, and
visitors. The aim of our proposals
is to build communities right in the
heart of Bolton.
£4.4bn
These major development plans will
bring massive benefits to our town
include boosting Bolton’s economy
economic output
by creating jobs, improving property
per annum prices, and increasing footfall into
the town.
Gerry Brough
Director of Place at Bolton Council
Increase
Green space and
connectivity
Contact:
Invest in Bolton
Investinbolton@bolton.gov.uk
www.investinbolton.comGREATER MANCHESTER
P L A C E
Live, work and play in
Greater Manchester
Developments spanning leisure, logistics, workplace and living
are coming forward across the city region
Energetic, diverse and individual, Greater commercial workspace and 25,000 sq ft west of Manchester with excellent road
Manchester is growing rapidly and is of retail and leisure space on the ground and motorway links. Acquired by Wain
regularly cited as one of the best places and lower ground floors. Estates (formerly HIMOR) in 2014 it is
to live in the UK, especially for young The joint venture project will result one of the largest regeneration projects
people who are drawn by the attractive in the first regional Pioneer building. in the UK with the potential to provide
combination of good jobs, affordability, Bruntwood Works’ £100m Pioneer 4.1 million sq ft of employment space,
exceptional residential options and a programme is designed to create creating almost 8,000 new jobs and
thriving lifestyle offer. forward-thinking workspaces centred on generating a GVA of £561m per annum
The level of investment in culture over six key pillars: biophilia, art, sustainability, to the regional economy. Three new
the past ten years is undeniably wellness, amenity and technology. villages designed around local amenities,
impressive and has added hugely to the A new two-storey extension will also be extensive green space and sports facilities
ongoing narrative that Greater Manchester created, with an emphasis on creating will provide up to 5,000 energy-efficient
is the place to be. However, many more an indoor-outdoor experience. new homes.
projects – across culture, lifestyle and Working collaboratively with Trafford
the workplace – are due to emerge in Carrington Estate (Trafford) Council, Greater Manchester Combined
the next few years. All have the capacity Carrington Estate is a mixed-use brown- Authority and local businesses and
to become world-leading assets and will field site covering 1,667 acres to the south residents to develop the Carrington
continue to elevate Greater Manchester
as an enviable place to live, work and visit. Foundation, Stamford Quarter
Here are a few projects to watch:
Altrincham (Trafford)
Trafford Council and Bruntwood Works
are set to transform the Rackhams
building, the former House of Fraser
department store, into a blend of
workspace, hospitality and retail.
Renamed Foundation, the development
will act as a cornerstone for the
transformation of the town centre and
create a new gateway into Altrincham.
Plans include transforming the former
department store into 50,000 sq ft of
22GREATER MANCHESTER
P L A C E
The Factory
Estate Vision, significant progress has In terms of employment land, coming in late 2023. A stone’s throw away from
already been made with construction forward will be a further 280,000 sq ft Manchester City’s Etihad Stadium,
under way for The Place at Carrington, a of industrial and logistics space at The Co-op Live is expected to draw hundreds
development of 277 homes, due for com- Boulevard at Carrington, 668,000 sq ft of thousands of new visitors to that
pletion in 2027. Planning was approved of space at Carrington Enterprise Park, part of the city. As part of the build, Co-op
for The Core at Carrington, 128 homes for which reserved matters applications Live is also investing heavily in local
on two parcels of land and 47 houses are set to be submitted mid-2022. talent and causes, and will be helping
and apartments around a new village to transform the canal that links the venue
centre offering 13,000 sq ft of commer- Co-op Live (Manchester) to Manchester city centre.
cial space. A development called The The new and purpose-built live music
Meadow at Carrington received planning and entertainment venue Co-op Live The Factory (Manchester)
approval for 145 family homes in 2020. will open in the Eastlands area of the city One of the most eagerly anticipated
project is The Factory – the major new
cultural space designed by Rem Koolhaas’s
architect’s Office for Metropolitan
Architecture (OMA). Scheduled to open
in 2023, The Factory is intended to
be ultra-versatile, capable of hosting
music, dance, theatre, opera, visual arts
and innovative contemporary work
incorporating the latest digital technologies.
The venue will also serve as an important
anchor in the ongoing development of the
city’s St John’s neighbourhood.
Farnworth town centre (Bolton)
The developers at Capital & Centric have
a vision to transform Farnworth market
Continues on page 26 ➤
23MANCHESTER RENTAL MARKET
PERFORMING AT A RECORD HIGH
Manchester has been one of the UK’s outstanding property success stories for
many years, the market is at a record high with further growth expected throughout 2022
Manchester
Skyline,
featuring AXIS
The Manchester property market has This was in spite of more than 5,800 328, and consequently, the number of
been the UK’s outstanding investment new properties entering the market apartments available at the end of the
opportunity for many years, however, over the year, and had the effect of month fell 74% compared to same time
the rental market in Manchester has pushing rents in the city to record in 2021.
experienced a further 9.7% increase in levels - especially for one- and two-bed The number of new flats under
rental demand over the last 6 months, apartments where rents reached all-time construction in Manchester fell in
proving there is still significant room for highs at the end of last year. January, with just over 13,500 in the
growth in the city. Now, the latest data shows that the pipeline. This is 865 fewer than a year
Manchester’s rental market entered market has continued to grow in the vein. ago, and suggests that the supply-side
this year on the back of a record-breaking Dwindling supply continued to impact issue which has led to growth in rents will
2021. There were just 525 apartments rents in January 2022, with rents once not only remain, but become more acute
available to rent in the city according again being pushed higher by this market in future.
to data from Alliance City Living, squeeze. More than 500 properties Rents for studio apartments increased
compared to more than 2,000 at the were rented in the city over the month by 10% over the last quarter of 2021,
same time 2020. which is far above the January average of reaching a high of more than £800 pcmYou can also read
