The BBC have announced plans to increase their presence at Greater Manchester’s MediaCityUK. The expansion will bring more jobs to the region, also boosting the property markets in Manchester, Salford and beyond.
In their ‘The BBC across the UK’ report, the BBC outlined plans to move whole departments from their current, London locations to Salford’s MediaCityUK. This mirrors moves to the north by large numbers of other organisations, keen to take advantage of all the benefits Northern Powerhouse cities have over the capital.
The BBC will move the whole of the Radio 3, 6 Music and the BBC’s digital and technology teams to Salford. As well as boosting job opportunities in the region, it will also further uplift the local housing market, creating great conditions to invest in Manchester property.
A UK digital hub
The relocation will increase the BBC’s already large presence in Greater Manchester. By 2012, there were already thousands of BBC employees working in Salford. With the BBC already leasing 330,000 sq ft of space at MediaCityUK, it has fast become one of the UK’s digital hubs.
The Director of the Northern Powerhouse Partnership, Henri Murison, said, “Moving the BBC up to MediaCityUK in Salford has played a key part in the growth and success of the media and digital sectors here in the last decade.”
A thriving, resilient market
With Manchester already named the best European city for business, the new jobs created by the BBC’s move will only improve the city’s economic prospects. Already a hotspot for young professionals, these new employment prospects will continue to grow the region’s population.
This all creates a very positive outlook for the region’s housing market and those looking to invest in Manchester property.
Throughout the coronavirus pandemic, the city’s property market has remained resilient. With high demand and some of the highest house price growth in the country, Manchester and Salford were recently named the best places for buy-to-let investments in the UK.
Investment opportunities in Greater Manchester
There are currently some great opportunities to invest in Manchester property with excellent rental yields.
Albion Place is perfectly located to benefit from the BBC’s expansion. Situated between MediaCityUK and the city centre, this handsome redevelopment comprises 72 one and two-bedroom apartments. Units start at just £149,950 and yields are expected to reach 6.5%.
Another fantastic place to invest in Manchester property is X1 Michigan Towers. This new development is located in the heart of MediaCityUK in a stunning quayside location. X1 Michigan Towers is due to complete at the beginning of 2023, with forecasted yields of 5.5% and a starting unit cost of £175,995.
Get in touch
To find out more about investing in Manchester property, or anywhere else in the Northern Powerhouse, get in touch with the experts at North Property Group today.