The University of Manchester has announced plans to create a world-leading £1.5billion innovation district in the heart of the city. The transformation will not only create a brand-new science and technology innovation hub, but will also bring over 10,000 new jobs to Manchester over the next 10-15 years.
Investment into innovation
The new innovation district – known as ID Manchester – will be located on land already owned by the University of Manchester. Situated next to Piccadilly Railway Station, the University campus and Oxford Road, ID Manchester will cover more than 4million sq ft.
As well as new spaces for scientific and technological innovation, the development will also include 2.6million sq ft for commercial spaces. There will also be a £28million investment into the public realm, which will be used for events programmes.
Positive impacts on Manchester property investments
All of this investment and development can only mean good things for Manchester property investments. The city has already proved itself a hotspot for buy-to-let investments following the pandemic, thanks to its incredible resilience and popularity with both tenants and investors.
And ID Manchester will only add to that demand. The more than 10,000 new jobs that will be created as part of the scheme will bring many professionals to the city. At the same time, students from across the UK and beyond will be more likely to choose to study in the city due to the opportunities offered by ID Manchester.
This means Manchester property investments nearby or within easy reach of ID Manchester are the most likely to benefit from increased demand generated by the scheme.
A leader in innovation
Bruntwood SciTech, who have partnered with the University of Manchester on the scheme, say they aim to “transform the UK’s knowledge economy and cement the UK’s status as world leader in science, technology and engineering.”
Chris Oglesby, Bruntwood SciTech’s Executive Chair, went on to say that the partnership “will create a global exemplar that will support national and international investment into science and technology, creating new pathways for the translation of research, and new cultures for enterprise.
“It’s also an opportunity to build something with purpose and a social conscience at its heart from the outset. ID Manchester will champion a more progressive and sustainable model of economic success, one that works for all people and the planet.”
Get in touch
To find out how your Manchester property investment can benefit from ID Manchester, get in touch with North Property Group today.