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Manchester Tops Regional Property League

A new report published today by global property advisor CBRE, Core Cities, Core Strengths, shows that Manchester secured £8.2bn of commercial property investment in the past decade, putting it ahead of Birmingham (£6.5bn) and Glasgow (£5.3bn).

Spinningfields-manchester

Manchester has been revealed as the city outside of London, which has attracted the highest level of commercial property investment over the past 10 years, securing an impressive £8.2bn.

A new report published today by global property advisor CBRE, Core Cities, Core Strengths, shows that Manchester secured £8.2bn of commercial property investment in the past decade, putting it ahead of Birmingham (£6.5bn) and Glasgow (£5.3bn).

In total £44.4bn was invested across the 12 cities analysed in the report, the first of its kind to compile this level of detail.

The report identifies the key factors behind a city’s success: civic leadership, talent in growing sectors, quality of life and ‘placemaking’, and infrastructure, provides a detailed review of the main city property markets outside London, and explores the opportunities and risks of devolution.

In total, the regions beyond London and the South East account for almost 60 per cent of all UK commercial real estate transactions.

The findings show that investors have diversified their property holdings as part of the recent economic recovery with emerging investment sectors such as healthcare and student housing increasing their share of the market.

Prior to the financial crisis, these assets accounted for 3 per cent of investment; this has trebled to around 10 per cent of total investment volumes today.

Overseas investment into the regions has also reached its highest level since 2007, with the first nine months of 2015 seeing twice as much investment as in the whole of 2013.

Political support has helped this growth, with Prime Minister David Cameron referring prominently to the ‘ Northern Powerhouse’ concept during a recent visit to China, and President Xi’ s visit to Manchester during his own visit to the UK.

Source MEN