Asset Managers have set their sights on Manchester as a £150bn asset pool could soon be coming in the city’s direction.
Nearly 240 asset managers were polled in a survey and approx. three quarters of those asked said Manchester was the most appealing UK commercial property investment outside of London.
Alex Jeffrey, Chief Executive of M&G Real Estate said; “Overall, the economic confidence we’ve seen in London is definitely spilling out into the regions.”
The survey stated that exciting new regional schemes include the £800m NOMA development – a 20 acre mixed-use scheme in Manchester being delivered by Hermes and The Co-Operative Group are significantly beneficial to the area’s economy.
As stated in the report by Nabarro Law firm, Manchester overwhelmingly attracts the interest of investors looking for opportunities outside of the London prime market. In addition, the announcement of the £800m investment into Manchester City Airport, a significant portion being Chinese investment, has boosted the city’s attractiveness in terms of potential investment. Manchester is known as England’s unofficial second city.
The survey was conducted by Nabarro Law Firm, to read more visit Nabarro.