A year of delivery Manchester Crane Survey · 2. Office 10 3. Student accommodation, education and...

MANCHESTER

MANCHESTER

A year of deliveryManchester Crane SurveyFebruary 2019

ContentsContents 01

The report 02

Key findings 03

Development snapshot 04

1. Residential 05

2. Office 10

3. Student accommodation, education and research 14

4. Hotel, retail and leisure 17

Development map 20

Development table 21

Endnotes 32

Contacts 33

01

A year of delivery | Manchester Crane Survey 2019

The report

What?A report that measures the volume of development taking place across Central Manchester and Salford and its impact. Property types include residential, office, hotel, retail and leisure, student accommodation, education and healthcare.

Where?Central Manchester and Salford.

Who?Developers building new schemes or undertaking significant refurbishment of the following size (minimum) = office – 10,000 sq ft, retail – 10,000 sq ft, residential – 25 units, education and healthcare – 10,000 sq ft, leisure and hotel schemes > 35 rooms.

When?Data for the Crane Survey was recorded between 13 January 2018 and 11 January 2019.

How?The Deloitte Real Estate team in Manchester has monitored construction activity and committed pipeline development across the city and has carried out field research. This research has been verified with industry contacts and in-house research teams.

02


Key findings

14,480 residential units under construction during 2018 is double than that under construction during 2016 (6,963 units)

Anticipated level of residential delivery over the next 3 years is due to exceed the previous 10 years combined.

Significant investment in the Corridor Manchester has resulted in over 1.1m sq ft of education and research space under construction.

31 schemes completed during 2018, comprising 16 residential developments, 6 offices, 5 hotels, 2 education facilities, 1 dining venue, and 1 multi-storey car park.

The total number of schemes under construction increased by 34 per cent compared to 2017.

85 per cent of office space under construction is new build grade A space.

Over 25 per cent of office space under construction is pre-let, a significant step up from 2017 (10 per cent)

03


Office space under construction2,070,897 sq ft (535,100 sq ft is pre-let)

Office floorspace under construction has increased by 0.5m sq ft compared to last year

2,129 hotel rooms currently under construction. 840 hotel rooms were completed in 2018

New completions in 2018 31

Development snapshot

Which sectors are the most active? (number of schemes under construction)1

48Residential

13Office

3 Education and research

9Hotels

3 Student residential

1 Retail and leisure1 Other

Number of new starts

2017

201844

32

201639

28

21

2007

Average (2007-2018)

14,480

Anticipated residential units due to complete 2019-2021:

Residential units completed 2007-2018:

13,439

04


1. ResidentialResidential development activity increase between 2017 and 2019 (units)

2016

6,963

2017

11,135

2018

14,480This is a 30% increase between 2017 and 2018.

For the third consecutive year, the residential sector has been the main driver of the record levels of development activity in Manchester, clearly evidenced by the large number of cranes visible on the city’s skyline. 48 residential schemes were on site in 2018, up from 41 in 2017, and these are set to deliver an impressive 14,480 units. 3,345 more units are under construction compared to the same time last year and the projected delivery over the next three years is greater than the total number of residential units delivered between 2007 and 2018.

Based on 2017’s construction figures, it was reasonable to assume that new construction starts and the growth in this sector may have been subdued in 2018. This expectation was compounded by an anticipated period of economic and political uncertainty due to Brexit. Crane Survey 2019 data evidences ongoing investment in the residential market, with 5,733 units commencing construction on 23 new sites in 2018.

New starts during 2018 included:

• Embankment West , Select Property Group (503 units) • Mount Yard, FEC (136 units) • Elizabeth Tower at Crown Street, Renaker (664 units) • Crusader Mill, Capital and Central (201).

Units under construction

Manchester city centre Salford city centre

8,517

5,963

05


Developing the skyline – tall buildings (Above Ground Level)

Manchester Town Hall

CIS Tower

BeethamTower

Angel Gardens

AffinityRiverview

OxygenTower

DeansgateSquare

89m110m 110m 110m 118m

169m

200.5m

121m

158m

140.

5m

Density and scale continue to typify residential construction activity. Large schemes form the majority of the construction pipeline with 17 schemes set to deliver more than 350 units each. The pattern of tall buildings being delivered around the inner ring road is now taking shape and making a significant impact on the skyline, with nine schemes of over 25 storeys at various stages of construction.

2018 was also a landmark year for completions in the residential sector. In total, 2,569 units completed, the highest level since 2006 and 1,317 units more than in 2017. These figures were bolstered by the completion of several build-to-rent schemes in Ancoats and New Islington, including Manchester Life’s Smith’s Yard and Sawmill Court, Mulbury The Astley. A further five schemes were completed in Salford, including Slate Yard Wharf and Middlewood Locks.

Units under construction by sub-area

Num

ber

of u

nits

0

1,000

2,000

3,000

4,000

5,000

6,000

Southern arc

Manchesterperiphery

Northernfringe

Citycentre

Salford

06


Salford city centre is the location of a cluster of residential developments with 1,299 units delivered and seven new starts in 2018. In total, 5,963 units are under construction, meaning that Salford has overtaken neighbouring areas as a key residential growth area and recorded the highest level of completions in 2018. The Chapel Street corridor has been a major contributor, with schemes such as Chapel Wharf and The Crescent under construction. The Salford University campus masterplan, plus further phases of development at Greengate, mean that this area has significant further potential, supported by improved connectivity with Manchester City Centre.

Looking ahead, completions in 2019 are projected to exceed 5,500 units before rising above 7,500 in 2020: this will have a significant impact on the residential population in the city centre. Assuming two residents per unit, based on residential delivery from January 2016 to December 2018, the population within the study area has already increased by 12,000 and is set to increase by a further 28,400 by the end of 2021 and therefore in excess of 100,000. This population growth will require services and amenities to support it, some of which are already planned as part of emerging neighbourhoods, such as new education and health facilities at Great Jackson Street, and a new park at the heart of the Mayfield masterplan.

Residential development pipeline

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2021202020192018201720162015201420132012201120102009200820072006

Completed

Num

ber o

f res

iden

tial u

nits

Under construction

07


Population per sub area (2013)

= 300 peopleSalford city centreNorthern fringeManchester peripheryCity centreSouthern arc

Current population based on Crane Survey data 2013-2018


Anticipated population per sub area by 2021


Due to residential growth, the city centre, especially to the north and the east, has now extended well beyond the inner ring road, a physical boundary that for many years has defined the Crane Survey research area.

Population per sub area (2013)


08


Completed schemes in past 12 months

Num

ber

of u

nits

0

500

1,000

1,500

2,000

ManchesterPeriphery

Southern Arc

NorthernFringe

Spinningfields/Leftbank

Citycentre

Salford

Two-bedroom units constitute 58 per cent of the units under construction to 2021, with apartments making up the entire market save for ground floor townhouses and schemes too small for our survey. Conscious of the perceived uniformity of accommodation options in the city, a fact demonstrated by the limited number of families in the city – just over 100 children lived in the Deansgate and Piccadilly wards in 2016, emerging regeneration areas are seeking to deliver more diversity in terms of the types of units and tenures. For example, the Northern Gateway and the Great Ducie Street Framework areas will include lower density blocks and family housing, as well as high quality public realm, providing another option for those looking to remain in the city. This traditional family housing is likely to be delivered in areas outside the current Crane Survey boundary, such as Northern Gateway and East Manchester.

Looking at rental values of property, the average price for a two-bedroom property in March 2016 was £945 per month (p/m) and £688 p/m outside the city centre. At the end of 2018, average values were £981 p/m in Manchester City Centre and £733 p/m

elsewhere, representing a 3.8 per cent increase in the city centre and 6.5 per cent elsewhere over the two-year period. There are higher value sub-areas within the city centre, with Deansgate and Spinningfields averaging £1,339 p/m for a two-bedroom property, and New Islington at the lower end of the scale averaging £917 p/m.2

Considering affordability, the average salary in the city centre is £28,558.3 Assuming a target average spend of 30 per cent of gross income on rent, in line with Manchester City Council’s Affordability Framework, this equates to an affordable rental value of £713.5 p/m per person. However, most two-bedroom apartments are shared between couples or a pair of young professionals, and this increases the affordability of even the higher end of the rental market for this particular demographic.

The delivery of residential properties in the city is now coming broadly into line with the average target specified in Manchester’s Core Strategy (2012) and is beginning to catch up with successive years of undersupply against targets between 2009 and 2017. The appetite for city centre residential development is unlikely to waiver; with the city centre identified to provide a further 10,000 new units to contribute toward the 201,000 net additional dwellings required across GM between 2018 and 2037 identified by the draft Greater Manchester Spatial Framework (GMSF)4.

There are approximately 14,600 units with planning permission within our survey area at present and moving forward, we may see schemes move away from a focus on build-to-rent apartments for sharers to provide co-living options or a variety of apartment typologies to appeal to different demographics, including down sizers. There is clearly more capacity for growth based on the number of extant permissions, but how they physically manifest themselves beyond 2021 is likely to change and further diversify the rental market.

09


2. OfficeOffice floorspace under construction

2017

1.5m sq ft

2018

2.1m sq ft

With 2,070,897 sq ft of floorspace under construction across 13 schemes, 2018 was a busy year for Manchester’s office sector. The amount of floorspace under construction is 37 per cent up on 2017 activity and significantly more than the pipeline of 1.5m sq ft per annum between 2015 to 2017. The increase in volume under construction is also due to three years of strong activity in the sector, resulting in the continued delivery of schemes that commenced back in 2016 and 2017. This is reflected in the relatively low completion figure of 450,000 sq ft delivered during 2018.

Alongside a strong year for the construction pipeline, the city experienced a flurry of high profile deals and occupier announcements both in identified regeneration areas and the city core. This is testament to the city’s resilience at a time of broader economic and political uncertainty. Major deals included HPE at Circle Square, Booking.inc and The Farm at St John’s, WeWork at Dalton Place, HMRC at 3 New Bailey, and Amazon at Hanover House. To continue to attract commercial investment, create new jobs and retain talent, the supply of Grade A floorspace needs to be maintained, along with the strong delivery of residential units in the city.

Office development pipeline

0

300,000

600,000

900,000

1,200,000

1,500,000

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

Sq ft

Completed Under construction Let under construction

10


Annual gross value added (GVA) for the city of Manchester increased between 2011 to 2017 from £14.5bn to £19.5bn due mainly to the drive in business services operating in the city, GVA for the city centre is now 29.5 per cent of the total for the Greater Manchester area. This will continue to increase as Manchester and Salford generate further demand for prime Grade A office floorspace.

New starts made a large contribution to the total floorspace under construction, with ten new office schemes starting on site in 2018 due to deliver 1,541,797 sq ft. These are spread across the city, with four in the city core, three in Salford, plus the Manchester Goods Yard in St. John’s. This new space is a result of strong pre-let activity and long-term strategic regeneration plans. In addition, three further schemes (Old Granada Studios, Bonded Warehouse and ABC) are being delivered at St. John’s by Allied London and are part of larger mixed-use schemes that also include studio space for the creative, digital and media industry as part of the Enterprise City initiative.

Office floorspace under construction

Sq ft

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

Southern arcSt. JohnsCity centreSalford

Whilst the number of new starts was lower than in 2017, the scale and quantum of new commercial office development increased, both in terms of height and scale of floorplates, reflecting an appetite in the market for new builds over refurbishments. Other new starts include:

• No.1 and No. 2 Circle Square: the first commercial blocks of this major regeneration site

• Brazennose House: major development due to deliver part of the Lincoln Square masterplan

• Two New Bailey: office block delivering Grade A space as part of New Bailey in Salford.

All seven of the office schemes that completed in 2018 were refurbishments of existing buildings. In 2017, 28 per cent of the office floorspace under construction was to refurbishment schemes. In 2018 this figure dropped to fifteen per cent, with only one new office refurbishment scheme under construction as more new build schemes are brought forward. Despite this, refurbishments remain an attractive choice for operators, demonstrated by Amazon’s decision to take 90,000 sq ft of space in the refurbished Hanover House.

Hanover House is an important part of the £800m NOMA development. Growth in the northern quadrant of the city centre will start to spread the spatial distribution of Grade A office accommodation across the city, helping to create a competitive destination for inward investment, retail and leisure. It will also act as a catalyst for the development of areas for the next wave of residential growth in New Cross, Northern Gateway and Great Ducie Street.

11


New office starts per survey

0

2

4

6

8

10

12

201820172016201520142013201220112010200920082007

Positivity continues outside of the Survey area: The Hut Group (THG) committed to the delivery of the first phase of a new one million sq ft campus as part of Airport City, which is designated as a key employment area for Manchester. Major office deals reported in 2018 were by creative, media and tech sector occupiers, taking over the lead role from financial and legal service occupiers who were previously the sector driving office development in the city. There are now 82,300 creative sector jobs based in the Greater Manchester area5.

This change demonstrates the diversification of the job market in the city, the increasing attractiveness of Manchester as a location for this sector, and the long-term efforts that have been made by Manchester City Council to promote economic growth and retain talent. This is likely to intensify as St. John’s and the Enterprise City initiative continue to progress over the next five years, providing a range of smaller SME-type occupancies to larger more conventional floorplates for established occupants, and revisiting some parts of the masterplan to deliver additional commercial space to meet

demand. With the change of occupier market, the product has also changed to include quirky fit-outs with an emphasis on more and better breakout spaces to improve collaborative working and moving away from the more corporate offering at Spinningfields.

Although current data on the office market is encouraging, the pace of Brexit negotiations is weighing heavily on business sentiment. According to Deloitte’s latest CFO Survey6, the mood among Chief Financial Officers became more pessimistic about the long term impact of the UK leaving the EU, ranking it as the biggest threat to business in the coming year. Confidence among CFOs has, in fact, fallen to the lowest levels in two years, with only 12 per cent saying that now is a good time to take risk.

12


To put the sentiment about Brexit into context, 54 of the FTSE 100 companies have cited Brexit as their principal risk or the cause of broader risk around market and economic uncertainty. Only one identified climate change as their principal risk. Deloitte’s Annual Report Insights 20187 shows how the largest businesses are managing the challenges they are currently faced with.

Nonetheless, based on the pipeline supply under construction and scale of deals in 2018, Manchester has so far remained resilient despite Brexit uncertainty. This is helped by the growth of tech businesses in the regional centre. The efforts to position the city as a go-to location for growth sector occupiers are now being realised, and further high profile new office starts are anticipated in 2019 in areas such as Circle Square, NOMA and St John’s.

Business optimism

Net % of CFOs who are more optimistic about the financial prospects of theircompany than three months ago

-90%

-70%

-50%

-30%

-10%

10%

30%

50%

70%

2018

Q1

2017

Q3

2017

Q1

2016

Q3

2016

Q1

2015

Q3

2015

Q1

2014

Q3

2014

Q1

2013

Q3

2013

Q1

2012

Q3

2012

Q1

2011

Q3

2011

Q1

2010

Q3

2010

Q1

2009

Q3

2009

Q1

2008

Q3

2008

Q1

2007

Q3

Mor

e op

timis

ticLe

ss o

ptim

istic

2018

Q3

13


3. Student accommodation, education and researchStudent accommodationFollowing limited construction activity in 2017 after the completion of Vita’s second Manchester site at Circle Square, three new purpose-built student accommodation schemes commenced in 2018. Vita has started on their second Circle Square site; and work on two tall buildings have commenced, Unite Student’s New Wakefield scheme and Downing Student’s River Street scheme. Together these schemes will deliver 1,794 new bedspaces.

While these purpose built student accommodation products will target different price points, they respond to the demands of Generation Z students for high quality, well-managed accommodation in central locations, requirements which are entirely consistent with the build-to-rent model designed for life post-graduation.

Student housing development pipeline

0

300

600

900

1,200

1,500

2019181716151413121110090807

Num

ber o

f stu

dent

bed

s

Completed Under construction

The University of Manchester has the highest percentage of international students in the UK (25 per cent), and as many as 180 nationalities are represented on campus. These students tend to seek out higher value, catered facilities with high-end amenities in the city centre close to campus, which has further driven the demand for this type of offering from Vita and Downing.

With 100,000 students attending university in the region, Greater Manchester has one of the largest concentrations of students in Europe and provides the city with an enormous supply of new graduates each year across a wide range of subjects who can contribute to future economic growth. Supply of high quality accommodation is an important factor that continues to attract students to the city.

180

100,000

nationalities

students studying in Manchester

14


Education and research The profile and status of its higher education institutions positions Manchester as a magnet for talent. Both Manchester Metropolitan University and the University of Manchester continue to invest in campus improvements and new facilities.

The collective investment by Manchester Metropolitan University, the University of Manchester and associated research and development schemes has resulted in an outstanding year for Corridor Manchester. Two new schemes started in 2018, with 1,134,458 sq ft of floorspace currently under construction. This is testament to the work that has been carried out over the past ten years to position Oxford Road Corridor as the centre of Manchester’s knowledge economy.

Education and research development pipeline

0

200,000

400,000

600,000

800,000

1,000,000

2021202020192018201720162015201420132012

Sq ft


On the University of Manchester campus, the Henry Royce Institute has now commenced construction. ‘The Royce’ will house state-of-the-art equipment and facilities that will enable advances across a wide range of areas, including 3D printing of biomedical materials, and self-heating coatings for buildings. Close by, work on the mammoth Manchester Engineering Campus Development continues apace and is due to be delivered by the end of 2021. This will provide another world-leading research and state of the art education facility.

Other campus improvements include the completion of two Manchester Business School projects and University Green, providing 11 new retail units at the heart of the campus. Significant projects have taken place to continue the enhancement of Oxford Road Corridor for all users. These include public realm improvements at Brunswick Park and completion of the Oxford Road Corridor Bus Priority Scheme which has also improved the Oxford Road campus for pedestrians and cyclists.

The Graphene Engineering Innovation Centre (GEIC) was delivered in 2018 and provides space and facilities focused on improving the commercial prospects of Graphene and drive UK innovation in materials technology.

15


Investment in GEIC and the Henry Royce Institute has provided physical assets contributing to the vision of Graphene City® – a community of over 200 leading 2D materials scientists and engineers that will itself become an international research and development centre. This will focus attention on attracting investment and innovators from around the globe and further cementing Corridor Manchester as an international location for research, innovation and collaboration.

At Manchester Metropolitan University, work started in 2018 on a new Arts and Media Facility to replace the Mabel Tylecote building, which is due to open in 2020. In December 2018, planning permission was approved for the £35m School of Digital Arts (SODA). Programmed for delivery in 2021, this new building will provide learning and training facilities that will help to meet the demand in the city for skills from tech and creative sector businesses, 69 per cent of which say they are struggling to recruit highly-skilled workers across the digital, media and creative industries.8

Further education also has a role to play in the success of a city by attracting and retaining talent, and in particular to develop the skills of young people in the region. Manchester College, recognising the opportunity provided by the consolidation of its campuses and location in the vicinity of future employers for its students, is searching for a city centre site. This should have benefits for not only immediate locality of the final site but also the city as a whole.

With 100,000 students attending university in the region, Greater Manchester has one of the largest concentrations of students in Europe and an enormous supply of new graduates across a wide range of subjects each year who can contribute to future economic growth. Supply of high quality accommodation is an important factor that continues to attract students to the city.

Henry Royce Institute

160,000 sq ft

Arts and Media Facility

135,000 sq ft

16


4. Hotel, retail and leisureHotelThe number of new hotel rooms currently under construction in the city has reached a record level, with 2,129 new bedspaces in the delivery pipeline. Compared to 2018 figures, this is an uplift of over 900 bedspaces, and 1,300 more than the average annual construction rate since 2008. The pipeline remains strong moving into 2019 with new starts anticipated including the new QBIC hotel at John Dalton House.

In total nine new hotels are under construction: four of these schemes are within the city core, two are located within NOMA and the Northern Gateway and one within the Southern Arc. A further two schemes are still under construction that commenced development during the course of 2017 and are due to complete in 2019, taking the total number of rooms in the city centre to over 10,000.

Hotel development pipeline

0

200

400

600

800

1,000

2021202020192018201720162015201420132012201120102009200820072006

Num

ber o

f bed

room

s


840 new bedspaces were completed in 2018 across five schemes. This is the highest number of rooms delivered on record and demonstrates the capacity and appetite for new hotels in the city. The significant step-up in delivery rates reflects the maturing tourism sector in Manchester. The majority of hotels in the city are classed as 4-star (3,800 rooms), and 3,100 are 3-star. Several new hotel brands now operate in the city, expanding the city centre’s hotel portfolio to include Hotel Indigo, AC Marriott, Crown Plaza and Stalybridge Suites

This growth is in part due to the strength of the business visitor economy, with Manchester’s Convention Bureau positioning the city as a world-leading conference destination. In 2017/18, 29 conferences took place (of which 20 were international) worth an estimated £26.7m for the local economy9. Additionally, the number of passengers arriving in Manchester from the current top 20 global business destinations has gone up from 200,000 in June 2017 to 350,000 in June 2018, representing an additional 1.8m journeys per annum.

17


Travel to Manchester Airport from top 20 business destinations

2017

2.4mpassengers

2018

4.2mpassengers

Manchester Airport has also added new weekly routes, with new direct services among others to Mumbai, Tel Aviv, Malaysia and Los Angeles. International connectivity will be further bolstered by the opening of the first new passenger pier in spring 2019, one of the first major infrastructure phases to be delivered as part of Manchester Airport’s £1bn transformation programme.

2019 is likely to be a strong year for tourism in the city given the addition of new air routes, a high profile conference calendar, plus the Manchester International Festival taking place in July, bringing with it international attention to the city’s cultural scene. This year may also see the commencement of work on the Factory project, which will provide a world-class cultural venue and a permanent home for the festival in the new St John’s quarter.

Looking ahead, there is a sense of optimism in the region about tourism, as we can expect to see the start of the expansion at three Manchester museums in 2020 and the phased opening of RHS Garden Bridgewater, Europe’s largest garden project. There remains a strong pipeline for hotels, with many further new entrants to the market now in possession of planning permission for major developments.

Retail and leisure The Green at Circle Square, the only new leisure scheme that started in 2018, will provide retail and leisure use as well as an exhibition and event space to support the wider office, student accommodation and hotel development being delivered or planned as part of the Circle Square masterplan.

There are no standalone retail schemes in construction; however, continuing the trend reported last year, there remains a consistent level of retail and leisure floorspace under construction, with 310,470 sq ft in 2018 compared to 316,661 sq ft in 2017. This space will be delivered as part of office and residential schemes and will provide retail units and leisure space designed to service a new population. This type of use is an essential component of high density residential neighbourhoods in the city and an important part of placemaking in commercial and mixed use schemes. This has been the case in Ancoats and New Islington, where new food and beverage openings and announcements have taken place in 2018, predominantly by independents. This has established the area as a destination in its own right, with residential delivery in this area reaching its highest level to date and Ancoats being named by Timeout in 2018 as the 13th ‘coolest district in the world’.

Across Manchester City Centre, 2018 saw a raft of new restaurant openings from established London brands and Manchester-based independents, including The Ivy, Mana, Tast and Dishoom.

18


Although the market is demonstrating strength in terms of new hotels, restaurants and leisure openings, levels of disposable income nationally fell by eight per cent one quarter, which is the sharpest drop since the Deloitte Consumer Tracker started in 2011. This is linked to an unexpected rise in the rate of inflation in August and real wage growth remaining modest by historical standards. Alongside this, announcements of retail and leisure closures were frequent throughout 2018 as the sector underwent structural change as a result of changing spending habits.

In spite of weaker consumer sentiment across the UK, Manchester’s food and beverage independents have used this opportunity to take advantage of the demand for quality and experience. New businesses have positioned themselves in central locations and new neighbourhoods, alongside Manchester’s strong creative and digital sector, forming an integral part of Manchester’s attractive lifestyle offer.

Some of Manchester’s most complex and large-scale development sites are acting as temporary leisure destinations as part of branding and placemaking programmes. Mayfield continues to position itself as an evening and weekend venue, while St John’s and NOMA have hosted events over several years, helping to embed these areas in the fabric of the city. The rise of meanwhile uses, the expansion of independents in the face of general consumer trends, and the growth of residential are all essential for ensuring that Manchester continues to attract and retain young people, who will be key to future economic growth.

Net % of consumers who said their level of confidence has improved in the past three months

-18

-16

-14

-12

-10

-8

-6

-4

-2

0

Source: The Deloitte Consumer Tracker

Q3

2011

Q4

2011

Q1

2012

Q2

2012

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2012

Q4

2012

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2013

Q2

2013

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2013

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VICTORIA

PICCADILLY

SALFORDCENTRAL

UNIVERSITY OF MANCHESTER

ARNDALE

ITVGRANADA

SPINNINGFIELDS

OLDHAM RD

POLLARD ST

FAIRFIELD ST

CHESTER RD MANCUNIAN WAY

WHITWORTH ST

STORE ST

CRO

SS S

T

CO

RPO

RATI

ON

ST

SHUDE HILL

ROCHDALE RD

D

EAN

SGAT

E

VICT

ORI

A ST

MOSL

EY ST

M

OSLEY

ST

LIVERPOOL ROAD GT BRIDGEWAT ER ST

BLACKFRIARS ROAD BLACKFRIARS ST

PICCADILLY LON

DON

RD DOWNING ST

BRIDGE ST PRINCESS ST PRINCESS ST UPPER BROOK ST

PRINCESS RO

AD

QUAY ST PETER ST OXFO

RD ST OXFO

RD RD

WAT

ER STOL

DFIE

LD R

D

A

DEL

PHI S

T

SILK STREET

ORDSALL

LANE

TRI

NITY

WAY

TRINITY WAY

REGENT RD DAWSON ST CH

ORLTO

N ST

CHAPEL ST CHAPEL ST

MILLER ST GREAT ANCOATS ST

CRESCENT

PORTL

AND ST

6463

65

27

28

103

104

100

102

101108107

105

106

2630

32

24

29

31

2325

46

454487

89

88

86

85

62

37

3690

48

51 58

50

4752

11

69

74

6870

83

7778

80

75 84

42

43

17

12 1015

20

21

14

99

95

97

9693

92

94

98

3841

9116333435

1913

3940

6667

73

7981

82 76

72

5453

6056

5755

71

49

6159

27

18

1

22

8 6 4

359

Development map

Under construction Completed

20


Development table

No. Name/address Developer Main useTotal size (sq ft/units)

Completion date Comments

City core – Under construction

1 Motel ONE and Wilde Aparthotels, 3 St. Peters Square

Alliance Hotel 590 rooms Q4 2021 Dual-operated hotel block replacing Peterloo House, which will be split between 328 rooms operated by Motel ONE and 262 studios and one bedroom aparthotel units operated by Wilde Aparthotels. The latter is part of the StayCity brand.

2 Unite Student, New Wakefield Street

Unite Student Student Residential

603 units Q2 2020 32-storey student residential development with ground floor commercial space arranged in 5-10 bed clusters with shared kitchen facilities and some studio flats.

3 Vita, Circle Square (Building 9)

Select Property Group

Student Residential

384 units Q4 2019 Vita Student’s 18 Storey serviced apartments, including residents hub.

4 MSCP and Hotel, Circle Square

Bruntwood Hotel 150 hotel rooms, 1,100 parking spaces

Q2 2020 18 Storey building with a multi-storey car park of 1,100 spaces and a hotel of 150 beds. Including an array of commercial uses, office space and leisure facilities.

5 Affinity Living Block 1, Circle Square (Buildings 7 and 8)


Residential 266 units Q4 2019 17 storey block comprising 266 apartments in a 17 storey building with a range of communal residential facilities.

6 Affinity Living Block 2, Circle Square (Buildings 5 and 6)


Residential 411 units Q2 2020 Development comprises 411 apartments in a 36 storey building with shared lounge areas, co-working spaces, gyms and private entertainment spaces.

7 No. 1 Circle Square (Building 2)

Bruntwood Office 154,914 sq ft Q2 2020 The development comprises 18 storeys of high quality office space, which is part of the wider Circle Square masterplan for the former BBC site.

8 No. 2 Circle Square (Building 4)

Bruntwood Office 233,792 sq ft Q4 2019 The development comprises 14 storeys of high quality office space, which is part of the wider Circle Square masterplan for the former BBC site.

9 The Green, Circle Square

Bruntwood Retail / Leisure 11,959 sq ft Q4 2019 The Green’ forms part of the Circle Square masterplan which is to comprise retail/leisure uses including an exhibition and concert hall.

10 Manhattan Luxury Apartments

Property Alliance Group

Residential 42 units Q3 2019 Development of 42 1 and 2 bed apartments in a 7 storey building near China Town.

Red text denotes new starts since last Crane Survey.

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11 Big Yellow Storage Facility

Big Yellow Group PLC

Other (Storage) 92,000 sq ft Q1 2019 Storage facility is the first development within the revised Water Street SRF area, endorsed by Manchester City Council in 2017. It is aimed at both businesses and residents with a variety of storage spaces.

12 Heron House Bruntwood and Manchester City Council

Office 100,000 sq ft Q3 2019 Works comprise of soft strip and CAT A fit out of offices and full fit out of the Registrars including replacement windows and reconfiguration of main entrances to the building.

13 Brazennose House Marshall CDP and M&G

Office 150,000 sq ft Q2 2020 Demolition works took place in September 2018, with the main works build commencing shortly after. The scheme will front the new development proposals for Lincoln Square and form a major part of the redevelopment of this city centre block.

14 London Warehouse Capital and Centric

Hotel 166 rooms Q2 2019 120,000 square foot, seven storey edifice will include a 166-bed four star apart hotel, operated by the Nativegroup and new ground floor commercial operated by Bistrotheque.

15 Bespoke Hotels, Portland Street

Property Alliance Group

Hotel 189 rooms Q4 2019 189-bed hotel with ancillary bar, restaurant and casino to be operated by Bespoke Hotels, known as Hotel Brooklyn.

16 Hyphen, Mosley Street Boultbee Brooks Real Estate

Office refurb 64,000 sq ft Q2 2019 The development brings two buildings under one address and provides an additional 5,700 sq ft of retail space on ground floor level in addition to a one storey rooftop extension.

17 Citu NQ FCIM Residential 183 units Q3 2019 The development comprises 8 storeys with ground floor commercial units, communal facilities and a rooftop garden.

18 Landmark Castlebrooke Office 178,000 sq ft Q3 2019 £100m development will provide 178,000 sq ft in 13 storey building on former cinema site.

19 OneTwoFive Worthington’s Office 113,500 sq ft Q4 2019 The £70million development comprises 113,500 sq ft of Grade A office space over 12 storeys with 12,100 sq ft of flexible retail space on the ground floors.

20 Manchester New Square

Urban and Civic Residential 351 units Q4 2019 Site now being delivered by new owner Urban and Civic, which has to work with the existing basement car park delivered through the previous scheme.

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21 Kampus and Minto & Turner

Capital and Centric and Henry Boot Developments

Residential 536 units Q1 2020 Two phased project to provide neighbourhood comprising both refurbished and new build elements and includes 49,000 sq ft of ground floor commercial space.

22 AXIS Property Alliance Group

Residential 172 units Q2 2019 27 storey Build-to-Rent tower aimed at institutional investors.

City core – Complete

23 City Buildings, NOMA The Co-Op Group

Hotel 187 rooms Q4 2018 Project comprises the refurbishment and restoration of Grade II listed City Buildings on Corporation Street and will be operated by Hotel Indigo once complete.

24 Dalton Place Tesco Pension Fund

Office refurb 65,750 sq ft Q1 2018 Offers 65,000 sq ft of office space over six upper floors. The ground floor has been reconfigured into four units aimed at restaurant and café operators.

25 NOMA – Hanover The Co-Op Group

Office refurb 91,000 sq ft Q3 2018 Project involved the restoration and refurbishment of Grade II Listed Building to provide a new office for Amazon, accompanied by 18,000 sq ft of ground floor commercial.

26 Salisbury House Beech Holdings Residential 98 units Q1 2018 Conversion of former office space into studio and one bed residential apartments completed in January 2018.

27 121 Princess Street Beech Holdings Residential 127 units Q2 2018 Existing 8 storey building converted to provide studio, 1 and 2 bed apartments and retains historic features throughout.

28 40 Chorlton Street Staying Cool Hotel 41 rooms Q4 2018 Conversion of former cotton warehouse into an aparthotel operated by Stay Cool.

29 Core, Brown Street Boultbee Brooks

Office refurb 48,000 sq ft Q3 2018 The 12 month £8m refurbishment provides 48,000 sq ft of Grade A space.

30 Windmill Green FORE Partnership

Office refurb 78,000 sq ft office and 9,600 sq ft of retail

Q4 2018 Windmill Green comprised a comprehensive refurbishment project that stripped the existing structure and extends the previous floorplate to deliver Grade A office space.

31 Corn Exchange Hotel AVIVA Hotel 114 rooms Q1 2018 Aparthotel on top four floors of the Corn Exchange operated by Roomzzz. Included conversion of the existing turret to the Corn Exchange on Hanging Ditch into a unique room.

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32 Commercial Union House

Bruntwood Office refurb 66,000 sq ft Q2 2018 £5m transformation to offer high-quality workspace adjacent to Albert Square.

Spinningfields / St. John’s – Under construction

33 ABC, Quay Street Allied London Office 130,000 sq ft office, cinema and 32,000 sq ft of studios

Q3 2019 Part of the wider Enterprise City development in Manchester, which is part occupied by post-production company ‘The Farm’ following partial completion. The Everyman Cinema will occupy 10,500 sq ft once complete.

34 Old Granada Studios Allied London Hotel 22 units, 210 hotel rooms, 70,000 sq ft studios, and 40,000 sq ft offices.

Q2 2021 Mixed use redevelopment OGS will deliver new build elements comprising container-style offices and residential units with the refurbishment of the former Granada HQ to recreate four independent film and television studios, a 210 bed hotel, ground floor commercial and a roof top bar with swimming pools.

35 Manchester Goods Yard

Allied London Office 265,000 sq ft Q4 2021 Office block with basement car park currently under construction, which will become the new home of Booking.inc once complete.

Spinningfields / St. John’s – Complete

36 Hardman Square Pavilion

Allied London Retail / Leisure 17,900 sq ft Q4 2018 3 storey building with roof top area replaces the Lawn Club and becomes the new home of The Ivy. Part of a wider scheme to redevelop Hardman Square.

37 Bonded Warehouse Allied London Office 63,500 sq ft of mixed commercial, 110,000 sq ft of office.

Q4 2018 Mixed use development in Bonded Warehouse includes offices, leisure and retail spaces and music studios.

Northern Fringe – Under construction

38 The Lancastrian, Oldham Road (New Cross)

Balfour Beatty Residential 274 units Q3 2020 £65m scheme delivered by Balfour Beatty Investment and AIG Global Real Estate for a major build-to-rent development, ‘The Lancastrian’.

39 Mount Yard, Angel Meadow

FEC Residential 136 units Q4 2020 Mount Yard forms Plot 5 of the Angel Meadows development and will comprise of a part 9, part 12 storey residential development with townhouses and residential amenity uses at ground level.

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40 Hampton by Hilton, Sharp Street

Create Developments

Hotel 221 rooms Q1 2020 Designed by TG Architects, the part 7 part 9 storey hotel will also include a restaurant, fitness centre and meeting space.

41 StayCity, Mason Street (New Cross)

CEPF II Mason Street Developments

Hotel 224 rooms Q4 2019 224 bedroom Aparthotel including 48 one bed and 176 studio apartments which will be managed by Staycity Aparthotel brand.

42 The Hallmark Delph Property Group

Residential 146 units Q4 2019 Previously known as Green Quarter 7, Hallmark targets the Build to Rent market.

43 Angel Gardens Moda Living Residential 466 units Q4 2019 PRS scheme forms the first residential block within 20-acre mixed-use redevelopment scheme NOMA and includes a publically accessible courtyard area and private residential amenity spaces, including rooftop games area.

Northern Fringe – Complete

44 Halo Forshaw Land and Property

Residential 66 units Q4 2018 Halo comprises 66 one, two and three bed apartments in six storey block with basement car parking.

45 North Central Progressive Living

Residential 64 units and 4,500 sq ft of retail

Q4 2018 40 two-bedroom and 24 one-bedroom apartments with ground floor retail and basement parking.

46 AC Marriott, New Cross

Axel Hospitality Hotel 172 rooms Q3 2018 The new AC Marriott hotel development will also include a café bar, fitness centre and meeting rooms.

Southern Arc – Under construction

47 Elizabeth Tower and the Crown, Great Jackson Street

Renaker Residential 664 units Q3 2020 Mix of 1, 2 and 3 bedroom apartments, as well as townhouses, duplexes and triplexes making up 664 residential units in 54 storey tower. Includes resident basement car parking and landscaping.

48 Burlington Square Salboy and Factory Estates

Residential 273 units Q2 2020 The development comprises of 273 apartments over 9 storeys with ground floor communal facilities, commercial units and rooftop communal area.

49 River Street Downing Student

Student Residential

807 units Q4 2020 Downing’s latest Manchester development comprises of over 800 student bed spaces within a part 32 storey, part 10 storey and part 5 storey building and will include a mix of studios, clusters bedrooms and apartments as well as residential amenity space.

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50 The Royce Henry Royce Institute

Education/Research

160,000 sq ft Q2 2020 The Royce will be the UK national centre for research and innovation of advanced materials. The hub is within the University of Manchester campus, with ‘spokes’ formed by universities of Sheffield, Leeds, Liverpool, Cambridge, Oxford and Imperial College London.

51 Arts and Media Department, Mable Tylecote

Manchester Metropolitan University

Education/Research

135,000 sq ft Q4 2019 This development includes the erection of a new arts and media building, including the retention of the former Town Hall façade. It will include a theatre, poetry library, performance space, café, social space, university teaching and office space.

52 City Gardens DeTrafford Residential 86 units Q2 2020 City Gardens is an 11 storey building offering 27 one bedroom and 51 two bedroom apartments, along with eight triplexes with private terraces.

53 Excelsior Mulbury City Residential 108 units Q2 2020 The development comprises of 108 apartments within an 8 storey canalside development.

54 St George’s Gardens Phase 1 and Phase 2

DeTrafford Residential 138 units Q4 2020 The development comprises the fourth phase of development in Castlefield by DeTrafford. 11 storeys containing 138 apartments, including a roof terrace.

55 Cornbrook Works Bellward Properties

Residential 363 units Q4 2020 Development on the Trafford border will deliver a 19 and a 16 storey block with townhouses and family-oriented duplex apartments.

56 Cornbrook Hub (Phase 1)

Glenbrook CB Limited and Peel Land (Intermediate) Limited

Mixed Use 280 residential units, 154 bed hotel, 88 bed aparthotel

Q4 2020 The development comprises a part 14, part 15 storey building to form 280 residential apartments with ground floor commercial units, 154 bed hotel, and a 88 bed aparthotel.

57 Trilogy, Ellesmere Street

Glenbrook Residential 232 units Q4 2018 8 to 12 storey PRS scheme in Castlefield funded by a Moorfield and Glenbrook partnership.

58 MECD University of Manchester

Education 840,000 sq ft education and research facility.

Q3 2021 £350 million facility will house more than 6,750 students when operational.

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59 8 First Street Patrizia/Ask Real Estate

Office 173,600 sq ft Q1 2019 Pre-lets have been secured with both Gazprom and WSP, who are due to take a combined 95,000 sq ft. Completes early January 2019.

60 The Sky Gardens DeTrafford Residential 166 units Q1 2019 Second phase of DeTrafford’s ‘Manchester Gardens’ all comprise duplex and triplex apartments or penthouses.

61 Owen Street (Phase 1 and 2)

Renaker Residential Phase 1 – 846; Phase 2 – 648 units.

Q4 2019 (P1) and Q4 2020 (P2)

The tallest of four towers (66 storeys; 200m) will be second tallest in the UK after ‘The Shard’ once complete. First tower due for completion in Spring 2019.

Southern Arc – Complete

62 The Roof Gardens DeTrafford Residential 71 units Q1 2018 First phase of DeTrafford’s ‘Manchester Gardens’ comprises 49 townhouses and 22 apartments.

63 Manchester Business School Executive Education Centre

Bruntwood and University of Manchester

Hotel 326 rooms in two hotels and 12,600 sq ft of conferencing facilities

Q1 2018 210 bed 4* Crowne Plaza hotel and 116 bed Stalybridge Suites operate the hotel linked to 12,000 sq ft conferencing facility supporting the new Business School.

64 Manchester Business School Precinct Refurbishment

Bruntwood and University of Manchester

Education Additional floorspace: 45,000 sq ft education and 12,300 sq ft retail

Q4 2018 Refurbishment of existing business school and retail precinct provides 376,000 sq ft of new and refurbished space.

65 Graphene Engineering Innovation Centre (GEIC)

University of Manchester

Education 90,000 sq ft Q2 2018 Delivery of second Graphene-dedicated building was funded by UKRPIF, Masdar and Innovate UK, focussed on the commercialisation of the wonder material.

Salford Fringe – Under construction

66 100 Embankment Ask Property Development

Office 209,864 sq ft Q2 2020 100 Embankment is the second of two Grade A office buildings to be constructed, with Embankment 101 completing in 2016.

67 Embankment West Select Property Group

Residential 503 units Q3 2020 Embankment West will see the creation of Select Property Group’s fourth residential brand ‘Origin Homes’.

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68 Gore Street Grainger Residential 364 units Q2 2020 Three blocks, ranging between 22 and 13 storeys in height, are split between 364 apartments and 11 townhouses, and will also include a gym, café, and private lounge.

69 Middlewood Locks (Phase 2)

Fairbriar International

Residential 546 units Q4 2020 JV Fairbriar International secured £35m funding facility from the Homes and Communities Agency’s Home Building Fund to bring forward the second phase of the 2,200 unit masterplan.

70 The Slate Yard (Phase 3), Salford City Centre

Muse/Legal & General/ECF

Residential 199 units Q2 2021 This development forms part of the wider comprehensive phased regeneration of Salford city centre and the final phase of Slate Yard.

71 X1 Manchester Waters X1 Developments

Residential 216 units Q2 2020 This X1 development comprises of two blocks, one 10 storeys and the other 12, providing a total of 216 units in Pomona.

72 X1 The Landmark X1 Developments

Residential 191 units Q4 2019 Located adjacent to the Middlewood Locks development in Salford, this development will offer a range of one, two and three bedroom apartments as well as townhouses.

73 Two New Bailey Square

Muse/Legal & General/ ECF

Office 188,500 sq ft Q1 2020 The office development comprises of Grade A office space forming plots B5 and B6 of the New Bailey Scheme.

74 Riverside House, New Bailey

Muse/Legal & General/ ECF

Office 11,147 sq ft Q2 2019 The development comprises a four storey new build office scheme overlooking the River Irwell towards Spinningfields.

75 The Residence Elliot Group Residential 300 units Q2 2020 Part 15 part 34 storey tower with resident gym and a commercial unit at ground floor. Private off street parking is located at lower ground floor level with additional residential amenities.

76 Adelphi Wharf (Phase 2 & 3)

Fortis and Knight Knox

Residential 383 units Q4 2019 The 2nd and 3rd phases of the development comprise 383 apartments over 7 storeys with ground floor commercial space.

77 Affinity Riverside Select Property Group

Residential 188 units Q1 2020 Affinity Living is a new premier residential product from Select Property Group. Riverside will be 17 storeys and will deliver improved riverside public realm with the adjacent Riverview scheme.

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78 Affinity Riverview Select Property Group

Residential 318 units Q4 2021 Adjacent to Riverside, Affinity Riverview will comprise a 35 storey residential tower once complete.

79 Outwood Wharf Peterloo Estates

Residential 263 units Q2 2019 Works commenced in July 2017 on this 18 storey pre-fabricated residential block, which focuses on delivering larger family apartments.

80 Downtown Property Alliance Group

Residential 368 units Q3 2019 Scheme of 1, 2 and 3 bedroom units will incorporate a spa, gym, concierge, cinema room and business centre.

81 Trinity, Blackfriars Salboy Residential 380 units Q4 2019 Scheme unlocked by £22.5m GMCA Housing Fund loan and incorporating the Blackfriar Pub.

82 The Crescent Salboy Residential 399 units Q2 2019 The scheme will comprise a part 22, part 17 storey private-rented residential scheme with ground floor commercial on the former site of the Black Horse pub in Salford.

83 Chapel Wharf Dandara Residential 995 units Q2 2020 22 storey scheme constructed on a 4.2 acre site adjacent to the Lowry Hotel uses pre-fabricated construction techniques and includes ground floor retail.

84 Exchange Court Renaker Residential 350 units Q1 2019 Will become tallest building in Salford once complete at 44 storeys.

Salford Fringe – Complete

85 Bridgewater Point Knight Knox and Fortis Developments

Residential 220 units Q4 2018 Buy-to-let development comprises 220 units, made up of a mixture of studio, 1, 2, and 3 bedroom units and townhouses.

86 Middlewood Locks (Phase 1)

Fairbriar International

Residential 571 units Q4 2018 First phase of 2,215 PRS scheme in Salford delivers 571 units and ground floor commercial spaces across six blocks adjacent to canal basin.

87 House, Irwell Riverside

Urban Splash Residential 171 units Q4 2018 Similar modular homes to the New Islington hoUSe scheme comprising 71 houses and 100 apartments. Residents have moved into the first phase of units, with the wider site to complete in Q4 2018.

88 The Slate Yard, New Bailey (Phase 2)

Muse/Legal & General/ECF

Residential 135 units Q2 2018 Second of two forward-funded PRS schemes as part of Salford city centre redevelopment project is now complete, with Phase 3 now on site.

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89 Adelphi Wharf (Phase 1)

Fortis and Knight Knox

Residential 202 units Q3 2018 Delivery of the first phase provides 202 apartments over 8 storeys to contribute to the 585 units being constructed as part of the Adelphi Wharf project.

90 MSCP, New Bailey Muse/Legal & General/ECF

Other (Parking) 633 spaces Q4 2018 The development comprises a nine storey 633 space multi-storey car park and the second MSCP in New Bailey.

Manchester Periphery – Under construction

91 Crusader Mill Capital and Centric

Residential 201 units Q4 2020 Will deliver 126 apartments in the existing mill and a further 75 apartments in an adjacent new 10-storey building.

92 Vesta Manchester Life

Residential 169 units Q3 2020 Vesta Street is Manchester Life’s seventh project in the Ancoats and New Islington area and comprises 169 units.

93 Lampwick Manchester Life

Residential 213 units Q3 2020 The Lampwick development in New Islington comprises of two buildings ranging from 6 to 10 storeys and also includes ground floor commercial space.

94 New Little Mill Manchester Life

Residential 68 units Q1 2020 Conversion of the grade two-listed New Little Mill in Ancoats into 68 apartments.

95 Burlington House Belgravia Living Residential 91 units Q3 2019 Marks the first major development in Piccadilly Basin since 2011 to provide a variety of apartment types.

96 Islington Wharf (Phase 4)

Waterside Places

Residential 101 units Q3 2019 A residential scheme which lies adjacent to the Ashton canal just north of Manchester Piccadilly Station.

97 Oxygen Tower Property Alliance Group

Residential 357 units Q4 2021 Mix of 1 bed and 2 bed apartments with 12 townhouses. The building steps up from 8 to 14 and 31 storeys and will benefit from 24-hour concierge with commercial floorspace on podium level.

98 Warehaus McCaul Residential 40 units Q1 2019 Redevelopment of historic toy manufacturer includes 32 apartments and 8 townhouses and the three building elements are named Thorpe House, Booth House and Roper House.

99 Blossom Street Mulbury City Residential 143 units Q4 2019 £30m scheme comprises 49 one-bedroom apartments, 90 two-bedroom apartments and one three-bedroom apartment, plus the three townhouses and 4,000 sq ft of retail.

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100 Dakota Deluxe Evans Dakota Hotel 137 rooms Q3 2019 4* canal-side hotel features a cocktail bar, restaurant and terraces for guests facing the water.

101 Murray’s Mill Manchester Life

Residential 124 units Q2 2019 Conversion and new build element of Murray’s Mill reinstates area destroyed by historic fire damage.

102 Weavers Quay Manchester Life

Residential 201 units Q1 2019 Manchester Life PRS scheme includes 24 hour concierge and residential club room amenity space.

Manchester Periphery – Complete

103 X1: The Plaza X1 Developments

Residential 201 units Q2 2018 Second phase of X1’s Eastbank scheme, the first phase of which was completed in Q3 2016.

104 The Astley Mulbury City and M&G Real Estate

Residential 135 units Q2 2018 Mulbury secured funding from M&G Real Estate to assist the delivery of this £27.6 million PRS development

105 Smith’s Yard Manchester Life

Residential 199 units Q3 2018 Two blocks with 24 hour concierge, residential amenity space and four ground floor retail units fronting Blossom Street, which is to become a key route from the city centre into Ancoats.

106 Oxid House O’Connor Bowden

Residential 119 units Q1 2018 All one and two bed units sold off plan in 12 storey £12.6m PRS scheme on Great Ancoats Street.

107 1 Cutting Room Square

Manchester Life

Residential 31 units and 110 parking spaces

Q3 2018 All units sold off plan before construction commenced and provides car parking for this scheme and the adjacent Murray’s Mill.

108 Sawmill Court Manchester Life

Residential 159 units Q4 2018 PRS scheme also with four ground floor retail units fronting Blossom Street and Bengal Street.

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Endnotes1. Some schemes include significant floorspace falling within more than one sector, i.e. where a hotel and office element is being delivered as one scheme

2. Manchester City Council (2018), Quarterly Economy Dashboard Q2 2018-19

3. ONS (2018)

4. GMCA (2019) Draft Greater Manchester Spatial Framework, published January 2019

5. MMU (2018), SODA – Report

6. Deloitte (2018) European CFO Survey Autumn 2018

7. Deloitte (2018) Annual report insights 2018 – Surveying FTSE reporting

8. MMU (2018), SODA – Report

9. Marketing Manchester (2018), Tourism – Its Value to the Local Economy

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Sean Beech Partner, Tax 0151 242 [email protected]

John CooperPartner, Deloitte Real Estate0161 455 6512 [email protected]

Melissa Wilson Assistant Director, Deloitte Real Estate 0161 455 8578 [email protected]

Simon BedfordPartner, Deloitte Real Estate0161 455 [email protected]

Contacts

deloitte.co.uk/manchestercranesurvey

This publication has been written in general terms and we recommend that you obtain professional advice before acting or refraining from action on any of the contents of this publication. Deloitte LLP accepts no liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.

Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom.

Deloitte LLP is the United Kingdom affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NWE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

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A year of delivery Manchester Crane Survey · 2. Office 10 3. Student accommodation, education and...

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