The real estate market in Manchester has been put on the fast track courtesy the brand new Enterprise City project that will give a further fillip to the already fast-growing housing sector here. Enterprise City will comprise of 1 million+ sq. ft. in commercial mixed-use spaces which will include film and television studios, workspaces and a hotel. There will be a total of 10 buildings developed at this project and 300 million pounds have been pumped in by investors towards building one of the newest neighbourhoods at the prime Manchester city centre. Aviva Investors will thus play a vital role in the creation of this neighbourhood in tandem with Allied London.
Aviva’s global asset management segment has partnered with Spinningfields developer for creating this project which could have a future investment value of close to 1.25 billion pounds as per estimates. This project will naturally spur the development of prime residential and commercial real estate in Manchester over the next few years. The project site is where the Granada Television Studios were once located at St. John’s to the south of Spinningfields. This will be a predominant media, digital and enterprise hub and this will naturally spark more employment and boost demand for housing in Manchester.
Enterprise City will also have ample space for small and medium enterprises, start-ups, offices and media companies with production facilities. In fact, Booking.com has already been drawn to the project as the anchor tenant and will take up a whopping 220, 000 sq. ft. at the Manchester Goods Yard structures. Aviva Investors has pumped in the fresh round of funds and has added this project to its portfolio of Manchester real estate which is worth close to 450 million pounds. Enterprise City has been conceived by Allied London and this will impact the wider North West region tremendously along with the business environment in Manchester which will naturally boost demand for prime residential realty.
