Manchester’s Four Biggest Development Projects for 2022

February 11, 2022

Share to: 

Article Summary

Manchester
  • The plans for the first phase of the Victoria North project were submitted to Manchester council in 2021, with work likely to start this year if they are approved.

  • Expected to complete this year, Mayfield park is a £1.4billion scheme to build Manchester’s first city centre park in more than a century.

  • Ancoats Dispensary will form part of the wider, £1billion Ancoats regeneration scheme, which will create over 200 new homes, a mobility hub, and the transformation of the dispensary.

Manchester’s development boom is continuing at pace. This flourishing city is still seeing high levels of interest and funding for regeneration and investment in property even following the global pandemic.

Here are just some of the biggest development projects coming to Manchester during 2022.

 

Victoria North

Over four years ago the Far East Consortium were announced as the developers for the £4billion Victoria North programme. The plans for the first phase of this major project were submitted to Manchester council in 2021, with work likely to start this year if they are approved.

This first phase of the programme will create a new neighbourhood in the heart of the city, costing around £51.6million to deliver. It will bring with it new opportunities for property investments in Manchester through the construction of up to 5,500 new homes alongside a new park.

The plans also outline work to clear the site by demolishing the Creamline Dairies building and removing invasive plant species.

Once complete, the entire Victoria North scheme will have delivered 15,000 new homes to Manchester city centre, along with new schools, healthcare facilities, parks and transport infrastructure.

 

Mayfield Park

Expected to complete this year, Mayfield park is a £1.4billion scheme to build Manchester’s first city centre park in more than a century. Spanning 6.5 acres and situated just a 5 minute walk away from Manchester Piccadilly station, the new park will give residents and visitors a place of tranquillity in the centre of a bustling modern city.

 

Once complete, Mayfield park will be three times the size of Piccadilly Gardens and should feature art installations, a children’s fishing pool, and dog-friendly areas.

 

Following the coronavirus pandemic, easy access to outdoor space has risen to the top of many residents’ wishlists. Any property investment in Manchester near the new Mayfield Park will certainly benefit from such easy access to this new area of nature.

 

Ancoats Dispensary

Another investment in property for 2022 is the redevelopment of the Ancoats Dispensary. This will form part of the wider, £1billion Ancoats regeneration scheme, which will create over 200 new homes, a mobility hub, and the transformation of the dispensary.

 

Ancoats Dispensary is a Grade II-listed building dating from 1874, but which has stood empty and disused for over 30 years. Now, this stunning piece of architecture is being turned into 39 new homes while retaining the original neo-Gothic façade and central tower.

All of the apartments will be affordable properties and therefore could be good opportunities for property investments in Manchester.

 

Co-Op Live

Manchester has already been named the UK’s most exciting cultural hub, but the construction of the new Co-Op Live arena will help the city retain that title.

Construction has already begun on the arena, which is to be located next to Manchester City’s Etihad Stadium in East Manchester. Once complete in 2023, the £350million arena will have a capacity of 23,500 and will be the biggest in Britain.

As well as adding to Manchester’s credentials as a cultural hub, the new arena will also boost Manchester’s economy by creating hundreds of jobs.

 

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. Individuals or organisations can invest in property, and the investments can be short, long or medium term.

 

Contact us

There’s no need to wait until the This City development is ready to invest in property in Manchester. Find out what property investments in Manchester are available right now by getting in touch with North Property Group today.

Share to: 

Related Articles

Manchester named top UK city for Foreign Direct Investment

Manchester was recently recognised as a leading city for foreign direct investment in the UK, coming only second to London.

Read More →

Red Bank Manchester – A Regeneration Project and Investment Opportunity

Manchester has become one of the UK’s best property markets, with thousands flocking to the city each year to work, study, and play…

Read More →

Manchester named ‘creative capital’ of the UK

For many property investors in the UK’s 2023 buy-to-let market, the standout feature has been the remarkable rental growth.

Read More →

Property Investment Thrives as Rental Prices Increase, Landlords Seeing an Extra Months Rental Income per year

UK house prices have seen a positive trajectory for the third consecutive month, demonstrating resilience despite earlier forecasts of a downturn.

Read More →

Manchester Secures Coveted Spot on The New York Times’ 2024 ’52 Places to Go’ List

For many property investors in the UK’s 2023 buy-to-let market, the standout feature has been the remarkable rental growth.

Read More →

UK House Prices Reflect Resilience with Third Consecutive Monthly Increase

UK house prices have seen a positive trajectory for the third consecutive month, demonstrating resilience despite earlier forecasts of a downturn.

Read More →

Come talk to our professionals to learn more about the UK property market now!

Learn more about investing in Manchester by downloading our guide today