Key Highlights

The northern city of Salford is classed as up-and-coming and has become an exciting hotspot for investment activity. Where is it and why has it become so popular with investors?

Salford is a city in the Greater Manchester County and is situated directly next to Manchester’s city centre itself. The city itself covers 37 square miles and the five districts of Salford, Eccles, Worsley, Irlam and Cadishead, and Swinton and Pendlebury.

It has, in recent years, become sort of a “second city” to Manchester. It has attracted a lot of people over the years, mostly those looking for cheaper rents outside of Manchester city centre while still being able to easily access the city. Millions of pounds are being invested into the city, both by private investors and the Salford city council.

Regeneration Areas

The city centre itself will be going under significant transformation in order to boost the city’s profile and economy. One such project is the Crescent Innovation North project, a £2.5 billion venture, which will elevate parts of the city centre. Beyond residential areas, it is also focusing on creating an innovation district that will focus on research, science, and engineering. It also includes improvements in public spaces, transport links, and amenities such as shops, cafes, and green spaces, with the goal of creating a thriving community hub.

Salford Central is a £1 billion master plan to revitalise the former Regent Trading Estate near Oldfield Road. The Salford Central Masterplan is a 20-year regeneration project, ranking as one of the UK’s largest, with a planned £650 million investment. Led by Salford City Council in partnership with English Cities Fund, the development covers two key areas: Chapel Street and New Bailey. The initiative will create 11,000 jobs, 849 new homes, and 197,000 sqm of commercial space, along with new retail, leisure, and public spaces.

Pomona Island is also an area scheduled for regeneration, with plans totalling of £350 million currently in the works. In addition, Pendleton is a 458-home scheme redevelopment of Clarendon Park which is also key in the development of Salford. It focuses on creating a community-focused area, with allotments, play areas, multi-use games areas, and a skatepark.

MediaCityUK in Salford Quays is also about to undergo a major expansion, solidifying its reputation as a global hub for media, tech, and creative industries. The Quays was Europe’s most successful water regeneration project, totalling £550 million worth of development. The development will add new homes, commercial spaces, and cultural venues, creating a vibrant waterfront that supports city living, a thriving work scene, and plenty of options for residents and visitors to unwind and connect.

These developments not only address housing and job needs but also aim to transform Salford into a global hub for innovation and culture, attracting businesses, tourists, and new residents to the area.

Salford: A Property Investment Hotspot

The city, like Manchester, has seen a lot of investment and funding in recent years – particularly from property investors and the council. The demand for housing is reaching acute levels, particularly due to the population spill-over from Manchester. 

So, why Salford?

MediaCityUK

One of the major drivers and reasons for investment in Salford is MediaCityUK, a world-class hub for creative, digital, and tech industries. Established in 2007, the centre has grown and adapted and now has hundreds of cutting-edge companies operating there. It is home to media giants such as SkyNews, the BBC, ITV, and others, as well as numerous tech firms. The development has transformed Salford Quays into a vibrant, modern district that attracts top local and international talent and, naturally, investors.

The appeal of MediaCityUK lies not just in its infrastructure but in its ecosystem. The area is designed to foster collaboration and innovation, making it a magnet for start-ups, freelancers, and large corporations. With the rise of the digital economy, this area has become a critical node in the UK’s media landscape, contributing heavily to the investment flow into Salford.

In addition to the Crescent development, MediaCity in Salford Quays is undergoing a major expansion, positioning it as a world-class destination for media, tech, and creative industries. The proposed regeneration project will stretch from MediaCity’s current footprint doubling its size including the area around Quayside and will be defined by four distinct quarters each characterised by a specific purpose. This initiative will see the addition of new homes, commercial spaces, and cultural hubs. The vision for MediaCity is to become a dynamic waterfront destination that integrates residential, retail, and entertainment facilities, creating both jobs and leisure opportunities.

Population Growth

Between 2011 and 2021, Salford’s population increased from around 233,900 to 269,900, marking a 15.4% increase. In contrast, neighbouring Manchester saw a smaller growth rate of 9.7%, with its population rising from 503,100 to 551,900 during the same period. While Salford’s population is lower, its growth is far more rapid, making it one of the fastest-growing areas in the North West.

So, who makes up this growing population? Many are workers, contributing to the city’s robust employment rate of 72.4%, with 78.7% of the population economically active. Salford is particularly attractive to young professionals and students, drawn by its growing job market and the presence of higher education institutions, such as the University of Salford, making it a magnet for those looking to both study and start their careers.

Property Development Opportunities

Obsidian

Chapel Wharf is at the forefront of Salford’s regeneration efforts, undergoing significant transformation as part of a broader modernization strategy. Spearheaded by a leading Manchester developer, the project covers 47 hectares of the city centre and is designed to stimulate economic growth while fostering a strong community identity.

This area embraces the 15-minute neighbourhood concept, an urban planning approach aimed at minimising carbon emissions by reducing the need for long commutes and car use. The idea is to ensure that all essential services, such as shops, schools, and recreational spaces, are within a 15-minute walk, making life more sustainable and convenient for residents.

One standout development within Chapel Wharf is Obsidian, a luxury apartment complex named after volcanic glass, symbolising elegance, and serenity. Tailored for young professionals, Obsidian offers modern living spaces equipped with top-tier amenities, including a private dining area, cinema, fully-equipped gym, and a 24-hour concierge service.Find out more here.

Castle Irwell

Castle Irwell is a thrilling new development right in Salford’s green and peaceful north, situated next to the River Irwell. Drawing on the area’s natural beauty, this development puts tranquillity and quality first whilst still tapping into one of the fastest-developing markets in the UK. With its closeness to both cities and a wide range of green spaces and schools, Castle Irewell is expected to become popular with working professionals and their growing families.

The development is a series of nine curated townhouses, located in a leafy suburb just outside of the city centre – an area with a lot of potential for capital appreciation, especially considering Salford’s meteoric rise recently. Find out more here.

Furness Quay

Furness Quay offers a selection of carefully designed one- and two-bedroom apartments, as well as duplexes, located in the rapidly growing area of Salford Quays in Greater Manchester. With rental yields of up to 6% and starting prices at £190,950, this development presents a great investment opportunity.

Positioned near the waterfront and surrounded by green spaces, Furness Quay is set to become an exciting addition to the evolving skyline. The area is flourishing, with new cafes, bars, shops, and restaurants popping up, offering plenty for residents to enjoy. Its close proximity to Manchester city centre and Salford’s business district makes it particularly appealing to young professionals and recent graduates.

Find out more here.

Summary

North Property Group is a property investment agency and lettings agency with a focus on premium UK real estate. We secure deals with high-scale developers to deliver the best off-plan developments to investors. If you choose to invest in property in Salford, then we can help you find the perfect property and manage the entire lifecycle. We can offer financial advice and guide you through a range of investment options.

We’ve been closely tied to Salford’s recent surge in regeneration and investment boom. Working alongside premium developers, we are committed to delivering premium residences across the Greater Manchester Area. Book a free consultation with us today to start your journey in investing in UK off-plan property.