30 January 2018
Deloitte Real Estate’s Manchester Crane Survey confirmed the scale of Manchester’s growth today, announcing that the city is one of the fastest growing in Europe.
With construction starting on 32 new schemes in 2017, Manchester is growing FAST. Last year construction commenced on 20 new residential schemes, just two less than the previous record-breaking year, according to the report.
Alongside growth in residential projects, the reported highlighted a 75% increase in office space delivered in 2017 compared to 2016. The third year of sustained growth for the city.
Manchester’s community is second to none
These figures don’t come as a surprise; demand for the city is high. Manchester has a unique culture – its collaborative community is second to none. Combine that with the lower rents than London and the central location of the city, and there is no wonder that Manchester is a thriving business hub.
I spoke at an event only the other day to launch a new ‘Scale Up Forum’. An event to bring business leaders together to share their knowledge on taking businesses to the next level. The mood was overwhelmingly positive. It was more than clear that the Greater Manchester region is an essential location for startups and beyond. Significantly, there was a focus on these startups centring not only on digital and technical but across all industries. All too often startups are assumed to involve technology or digital simply because there are so many tech startups.
These growing ‘scale up’ businesses, moving beyond the realm of startup, that are going to need office space; somewhere in which to grow and enable further growth, driving demand for office space in Manchester even more.
This continued growth in both startups and scale ups is one of the reasons we’ve launch the tech accelerator space for Tech Manchester to manage. Adding in the extra layer of support from Tech Manchester is only going to help more businesses grow, whilst putting down roots in Manchester.
The incredible number of spaces similar to this in Manchester – designed to help startups move to the next level is testament to the environment that we have in this city for nurturing fledgling businesses.
You know what they say about Manchester: “We do things differently here.” We do, and it works.