Key Highlights

The Co-op Live arena is the newest event venue to join Manchester’s entertainment sector, recently opening this week to much fanfare and relief. Officially opening on 14 May 2024, the arena boasts the largest capacity of any indoor arena in Europe. The new arena is bigger than the Manchester Arena just down the road.

The arena has a capacity of an incredible 20,500 for all-seated visitors. This can be stretched to 23,500 if participants in the main area are standing.

While the new arena has been met with some setbacks and teething issues, it kick-started its line of this year’s shows with a performance from English rock stars, Elbow, on its opening night.

A Growing Urban Nightlife

Manchester has frequently topped lists for best UK cities for a night out – and it’s easy to see why. The city is entrenched in music history, birthing globally recognised musicians such as Oasis, Joy Division, and The Smiths – to name but a few. Britain has always prided itself at being at the forefront of music, with millions of visitors coming from overseas to visit iconic music-based museums, points of interest, and events. 

The Beatles bring in millions of tourists to the UK every year, despite having been defunct for several decades. Their legacy generates almost £120 million to the Liverpool economy and supports over 2500 jobs in the city centre. In London, the UK capital, the music scene generated £218 million in 2022, with almost 5 million fans flocking to the city to see their favourite acts – and Manchester is no exception.

The city is home to multiple music venues, from grassroots venues to huge arenas. Other venues include nightclubs and smaller indie music spaces, like Stage and Radio and Night and Day.

In addition to Co-op Live, there is the AO Arena and the Old Trafford Stadium which is frequently used as a live music venue. Other music centres include the O2 Academy, the O2 Ritz, and the Castlefield Bowl. Places like the Albert Hall and Bridgewater Hall have more of a focus on orchestral and classic music performances. Co-op Live is set not to take away competition, but to enhance Manchester’s burgeoning music and nightlife scene.

And it’s not just music that pulls thousands of people to the city each week. There are also plenty of comedy and theatre events happening across Manchester, from spoken poetry and open mic nights to broadway shows and theatre performances.

Nights out these days aren’t just about entertainment either, though it is a focal point. Dinner and drinks before an event is as much of a part of the night as the event itself, so it helps that Manchester has the second highest number of restaurants in the north. After Newcastle, Manchester is the second most restaurant-focused city in the north of England, with 1,576 residents per restaurant, leaving residents and visitors spoilt for choice.

Co-op Live Arena: What This Means For Property Investment

A glittering and vibrant party and nightlife scene is one of the biggest draws to the city. Millions of people come to the city each year, both visitors and permanent residents, who are drawn in by what Manchester has to offer by way of entertainment.

The new Co-op Live arena will mean more acts and more events, pulling even more people into the city each week to see their favourite artists. Not only does this boost the city and its economy in the short term, it has the long term benefit of drawing more people – both visiting and residents – to the city as Manchester becomes an even more exciting place to be.

Both visitors and residents of course need places to live, which is where property investors come in. Property investors can capitalise on this growth in the city by investing in property and renting it out on both a long-term and short-term basis.

Summary

North Property Group is an investment property agency and lettings agency, specialising in UK new build and buy to let Manchester properties in the city centre and wider Manchester metropolitan area. We discover the best deals in Manchester and further afield with first-class property development agencies to hand deliver the best UK property development deals to investors.

Alongside our honed ability to find the best property market deals, we also provide a full lettings management service, taking care of the property’s tenancies and lifecycle. Book a free consultation with us today to start your Manchester investment journey and tap into the UK’s premium off plan property opportunities.