£25million Manchester City Centre Redevelopment Gets Go-Ahead

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    Plans to redevelop an area of central Manchester have been given the green light. The £25million project will completely renovate part of Piccadilly Gardens, with work set to be completed by the end of 2022.

    Photo source: Manchestersfinest.com

    Transformative project

    The proposal was put forward by Legal & General Investment Management (LGIM) Real Assets, which owns the part of Piccadilly Gardens to be redeveloped. It outlines how the area of the public space, which is currently a less desirable part of the park, will be transformed into a welcoming public space for everyone to enjoy.

     

    By improving this part of Piccadilly Gardens, the value of nearby Manchester buy to lets should also increase.

     

    Creating a welcoming space

    Plans include changing the concrete pavilion located in the gardens so it becomes two separate sections. The canopy will be removed and the restaurants below will be upgraded.

     

    Senior fund manager at LGIM, Rob Coding, said: “By reworking the pavilion at Piccadilly Gardens we will be able to make the site a more enjoyable experience for residents and visitors to the city.

     

    “The pavilion’s prominent position makes it a gateway between the green public spaces and the city and we have a responsibility to make this a positive and welcoming space for everyone. We’re grateful to the council for their approval of the plans and support for the scheme.”

     

    More to come

    The plans for the pavilion are just the start of work to redevelop Piccadilly Gardens. Proposals for the wider site include transformations of Mosley Street, Parker Street and parts of Portland Street and Piccadilly will be brought forward later this year.

     

    Since the coronavirus pandemic, properties near desirable outdoor spaces have seen much more demand. The changes that are to be made to Piccadilly Gardens could create a new property investment hotspot in the city. It might be one for Manchester buy to let investors to keep an eye on.

    Photo source: Manchestersfinest.com

    What is property investment?

    Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

     

    Find out more

    If you’re interested in buying a buy to let Manchester property, get in touch with North Property Group today and see what’s available.

    Call Us:
    Leeds: +44 (0) 113 4264 444
    Manchester: +44 (0) 161 2449 060

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