With £8.2bn of investment in the last ten years, Manchester has topped CBRE’s regional property league, finishing comfortably ahead of both Birmingham (£6.5bn) and Glasgow (£5.3bn).
CBRE’s report, Core Cities, Core Strengths, found that Manchester is the city outside London which has attracted the highest level of property investment over the last decade.
The research, which offered a comprehensive overview of the major city property markets outside of the capital, analysed the key factors behind a city’s success. They were as follows: civic leadership, infrastructure, quality of life and ‘placemaking’, and talent in growing sectors.
Manchester has performed strongly in these areas in recent years, but there are other factors at play that have improved the city’s desirability when it comes to property investment. Location – Manchester is the fastest growing regional capital in the UK and world-renowned for sport and culture – is a major reason, as is the city’s growing economy, large student population and varied transport links.
Overseas investment in regions outside London has also reached its highest level since 2007 as investors look to diversify their portfolios.
“Over the last 10 years, Manchester has established itself as a major European city of commerce attracting investment from all over the world,” Colin Thomasson, Executive Director at CBRE Manchester, said.
“The city boasts unrivalled transport infrastructure, world renowned universities and cultural and sporting facilities which are the envy of the rest of the UK. Manchester is set for an exciting time in the years ahead which can only be further strengthened by the recent announcements in respect of the ‘Northern Powerhouse’ and devolution.”