A recent Deloitte study of the Manchester area has discovered something incredible: since 2017, the number of planned retail and commercial properties has increased by a whopping 240%. This is great news if you're planning on selling your home – the more development projects Manchester has under its belt, the more you have to talk about with interested potential buyers. So, what exactly is in store for your city?
For starters, the new Chapel Wharf, Blackfriars and Weavers’ Quay developments will all boost the stock of luxury flats in central Manchester. These have the potential to bring a high level of local revenue without detracting from your home's value. For example, the Ancoats area is popular with developers, but the properties that retain Manchester’s industrial heritage are still in high demand. All you need to do is figure out what future projects are popping up in your area and make sure you sell them in the right light.
The arts venues, green spaces and independent business units planned in the Spinningfields development are perfect for potential Millennial buyers, who are more likely to pay a premium to be nearcity-centre amenities. Even if you're not located near Quay Street, do a bit of research into any new bars, restaurants and gyms in your area that could attract a young crowd of buyers. Gary Neville’s planned revamp of Jackson's Row is equally one to watch, as it promises a ‘world class’ combination of luxury flats, offices, cafés and shops.
Big, city office developments like Circle Square, Deansgate and Commercial Union House are all in the process of creating prestigious offices to house top tier companies. That means more career prospects for would-be buyers. If your home has easy access to them, it could appeal to movers seeking career advancement.
A fresh look
Manchester isn’t just about the city centre though – it’s much Greater than that. We’ve already seen the trendy food market spark gentrification in Levenshulme, and the family-friendly Z-Arts theatre rejuvenate Hulme. Fallowfield may soon follow suit once the former Orange Grove pub site is redeveloped and the University’s Owens Park campus arrives.
Being near a bus or rail link can be as big a selling point as being near the developments themselves – as prices in Gorton prove. But even if you’re not on the 197 bus route to Spinningfields, the Mayor has announced a ‘major overhaul’ of the network. If your local links are improved, you might find your house value jumps overnight.