In 2017, MediaCityUK was among four of the top urban regeneration projects to be shortlisted in the MIPIM awards – a prestigious award which recognises the most accomplished projects developed around the world.
It therefore comes as no surprise that this is the most significant media development in the UK, with over 250 media, creative and digital businesses, positioning Manchester as the second largest creative and digital hub in Europe.
Many of the UK’s leading companies have established a presence here, with the likes of the BBC, Barclays, and Kellogg’s.
In 2011, the BBC set up their regional headquarters in MediaCityUK and two years later ITV followed their footsteps, residing in the prestigious Orange Tower office building with cereal giant Kellogg’s joining the migration in 2017.
According to a report by KPMG, in just one year, the BBC’s relocation contributed £277M to the UK economy, playing a key part in levelling the North of England over the last decade. Going forward, the BBC have plans to implement more decision making and resources to Salford, with substantial changes including the entire live output of BBC One being broadcasted in MediaCityUK by 2022.
As MediaCityUK has become more established over the years, more and more brands are continuing to relocate to this thriving digital hub, and now, the area boasts a hotspot destination, nurturing top creative and innovative talent from across the whole of the UK. This has built a burgeoning professional market, a demographic which is in continual demand for luxury rental apartment living.
Reinvigorating spaces in this way has significantly grown the appeal of the Salford area, producing an excellent quality of life for residents, and stimulating significant growth in the regional economy.
Other than becoming a world-class creative and digital business region which provides an abundance of employment opportunities, MediaCityUK has also developed into a cultural and residential destination to live, work and play.
Alongside the shops, bars, and restaurants, this 21st century development has been recognised as one of the greenest spaces in the UK and has received the Green Flag Award to celebrate the area’s level of environmental friendliness and quality of green spaces. Over the last 18 months, the outbreak of the global pandemic demonstrated the value of nature and the outdoors as a way of managing the unprecedented level of uncertainty and reoccurring lockdowns. As the positive benefits have been felt globally, the desire for outdoor space will remain a priority for many and will continue to be important in the long-term.
Travelling to and from MediaCityUK is another reason why the area is such an attractive destination for residents, with easy access by tram, bus, bike, road, or air. As part of Manchester City Centre’s transport strategy for 2040, ambitious proposals have been discussed for a new Metrolink line between Media City, Salford Crescent and Manchester City Centre, presenting a unique regeneration opportunity. As an investor, it pays to be savvy about what new transport infrastructure projects are being discussed, as they can cause significant growth in property prices.
Phase 2 of the MediaCityUK expansion has officially begun and consists of injecting £1billion to essentially double the size of the redevelopment over the next 10 years.
The next phase intends to further establish the already thriving sustainable mixed-use community for residential living, as well as remaining a magnet for businesses in the creative and digital space.
The expansion involves the addition of ten new buildings on the banks of the Quays, creating over 55,000m² of additional office space, 1,800 new apartments and more retail, leisure, car parking and public realm uses by 2026. This considerable expansion will support Salford’s growth, complimenting what is already a vibrant destination.
Construction is in the pipeline for X1 Michigan Towers, a development which is set to continue the iconic style of the area and be at the heart of the phase 2 MediaCityUK expansion.
The development is comprised of four identical skyscrapers centring around a landscaped public garden in a prime waterfront location in the heart of MediaCityUK. Consisting of 375 1–3-bedroom apartments and 2 bed townhouses, with amenities including an onsite gym and resident’s cinema, this investment opportunity has been extremely popular so far, and it’s easy to know why.
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