Manchester Aerial

Resi quality not keeping track with aspirations, says Colliers

The lack of quality residential accommodation in central Manchester could limit the city’s growth, Colliers International has claimed.

A research paper entitled Cityscape produced by the firm looking into the occupational and development markets in Manchester estimates that around 4,000 residential units will be delivered across 12 developments in the central business district, or inner ring road of Manchester between 2018 and 2022.

But Colliers said that in that time span, almost 11,000 jobs will be created in the CBD by new and existing employers. With key sectors such as tech and healthcare, along with professional services, looking to recruit heavily among millennials and ‘Generation Z,’ city centre accommodation will be highly sought. Both the quality and location of units currently being provided are questioned by Colliers.

Michael Hawkins, national offices director at Colliers in Manchester, co-ordinated the research and said it showed the importance of focusing not only on ‘superficial’ headline supply figures but on evaluation and definition of the quality of the product being supplied.

Hawkins said: “We established that the number of units being delivered within the CBD between 2018 and 2022 was just over 4,000 but more importantly, that there were almost 11,000 jobs being generated in that area over the same timeline.

“Our analysis of the corporate profile and nature of the businesses creating these jobs shows that a high proportion of these new employees will be from the Millennial and Generation Z employment base.

“There are a number of residential schemes being brought forward but because of their micro location, environment, orientation, internal configuration and build quality and interior finish, they will simply not prove to attract lettings and will always struggle to perform.

“Manchester is therefore under-supplied in respect of good quality and well-located residential schemes.”

Hawkins qualified his assertion by adding that the quality of the educated workforce in Manchester continues to improve, with the city still attracting a wide range of businesses seeking to create jobs for young professionals that require somewhere to live.

“The Manchester economy is showing great resilience and development of different asset classes is being brought forward in a responsible fashion,” Hawkins concluded.

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Unlike London which has beautiful central communities,Manchester does not. Until this changes we will never attract people other than those passing through.The areas which could attract families near the centre have been ruined by student accommodation.The biggest problem is green space. There needs to be a huge rethink around parks and gardens.There is still nowhere remotely civilised in the centre for people to relax. It isn’t exactly hard to cultivate a park. Yet Manchester seems incapable of doing this.

By Elephant

There will be soon, circle square, Angel fields and the mayfield development! it all takes time!

By Northwich

I want to read this research paper. Where is it?

By Raj

Hi Raj – we’ve requested a copy of the report from Colliers and will update the story ASAP.

By Jessica Middleton-Pugh

Whilst I generally agree that there needs to be a lot more investment in public realm and green spaces, Elephant, again thinking they know every inch of Manchester, apparently doesn’t. I’m lucky to live in the St John’s Gardens estate next to MOSI where low rise townhouses and flats are surrounded by shared community gardens, which a great number of residents take pride in, and which has not ‘been ruined by student accommodation’ whatsoever. There are plenty of families living here as well as young first time buyers and retirees. Whilst I agree it is rather unique, I can assure you it is a ‘civilised and relaxing’ neighbourhood.

By Not Elephant

I know Northwich but these are insipid at best.There was a wasted opportunity at Pomona to create something special and yet again we get ugly flats giving the place a dormitory feel.Hulme was a step in the right direction but that too is becoming another student dominated area which means rows of Take- aways and unscrupulous landlords just making a quick buck from rundown properties.It is already becoming scruffy again with neglected gardens and litter strewn streets.

By Elephant

Not Elephant you are in a very small minority.

By Elephant

Trying to find the actual research paper?

By Shelagh