As the beating heart of the North West of England, Manchester has long been synonymous with innovation, diversity, and growth. And true to form, 2023 is set to be another remarkable year for the city’s development. With a multitude of construction projects in the pipeline, Manchester is gearing up to cement its status as a thriving metropolis.
Why Manchester is an attractive place for projects
Manchester has become an attractive destination for projects due to a combination of compelling factors. Its thriving economy and diverse business sectors make it an enticing location for investments and business expansions. Additionally, Manchester’s strategic position in the North West of England provides excellent connectivity by road, rail, and air, making it easily accessible for domestic and international travellers.
The city boasts a skilled and talented workforce, thanks to its renowned universities and educational institutions. This availability of qualified professionals across various fields makes it an ideal location for businesses seeking a competitive edge.
Recent urban regeneration efforts have transformed the city into a modern and vibrant metropolis, creating numerous opportunities for commercial and residential developments. Manchester’s cultural and social scene, featuring museums, galleries, theatres, music venues, restaurants, and bars, adds to its appeal, catering to all tastes and interests.
Furthermore, Manchester’s focus on research and innovation attracts technology-driven industries and startups looking for collaboration and access to cutting-edge ideas. The local government actively supports businesses and projects, providing incentives, grants, and resources to foster growth and development.
With its affordability, compared to other major UK cities, Manchester offers a cost-effective location for large corporations seeking to establish a presence in the country. The city’s high quality of life, combining urban amenities with proximity to natural landscapes like the Peak District, appeals to individuals and families seeking a balanced lifestyle.
Furthermore, it’s worth noting that the North West boasts some of Europe’s most competitive businesses, especially in the construction sector. The area offers an extensive network of providers for companies seeking dependable material and service suppliers, ranging from scaffolding in Manchester to commercial waste collection in Liverpool. This rich ecosystem ensures corporations have access to all the resources they need for successful and efficient operations.
The best construction projects underway in 2023
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Co-op Live
Co-op Live is an arena currently being built on the Etihad Campus. It is expected to have the largest capacity of any indoor arena in the United Kingdom. The estimated cost of the scheme is £365 million. The facility is scheduled to open in April 2024 and will be part of a wider regeneration of the area.
Co-op Live will have an occupancy of 23,500 spectators and will be able to host a wide range of events, including concerts, sporting activities, and family shows. The arena will also have several bars, restaurants, and lounges, making it a destination in its own right.
The development of Co-op Live is a significant investment in Manchester’s cultural and economic future. It is expected to create over 3,000 jobs during construction and 1,000 permanent jobs once it is open. The arena is also expected to attract over 1 million visitors annually, generating £100 million for the local economy.
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Factory International Manchester
Factory International Manchester is a cultural space in the heart of Manchester’s city centre. It is a former warehouse that has been transformed into a state-of-the-art venue with various performance spaces.
The complex opened in June 2023 and has already hosted a number of high-profile events, including the Manchester International Festival and the Manchester Pride Festival.
In terms of capacity, the site can accommodate 7,000 people and host concerts, exhibitions, performances, and conferences. It also has several other facilities, including a bar, a cafe, and a library.
Factory International Manchester is operated by Factory International, a cultural organization that runs Manchester International Festival and produces a wide range of work, including theatre, dance, music, visual art, and digital media.
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Victoria North
Victoria North is a £1 billion project that will transform a 155-hectare site north of the city into an integrated mixed-use district. The project will see the construction of 15,000 homes, 2 million square feet of office space, a new public square, and a network of green public spaces. It will also include the creation of City River Park, connecting the River Irk with the city centre.
The project is already underway, and the first phase, Victoria Riverside, is expected to be completed next year. This stage will see the construction of 450 apartments, a unique public square, and an adjacent riverside walkway.
It will create 30,000 new jobs during construction and 10,000 permanent jobs once completed.
Manchester construction industry in numbers
These projects are just the tip of the iceberg, propelling the growth and development of Manchester’s construction industry. Countless other important ventures are in the works, poised to significantly impact the city’s urban landscape, such as Soho House, Trinity Islands and Ancoats Mobility Hub.
According to the Construction Products Association (CPA), the UK’s construction output is expected to increase by 2.5%. Manchester, however, is projected to surpass this growth rate with an even higher increase of 3%.
To accommodate this expansion and enhance the city’s infrastructure, the Greater Manchester Combined Authority (GMCA) has set a target of attracting £10 billion in investment for the construction sector by 2027.
Manchester stands at the cusp of a transformative era in 2023. With promising growth rates, rising demand for skilled labour, and substantial investment targets, the city is primed for unparalleled development in the coming years.
