A Detailed Guide on Urban Regeneration in Manchester
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If you want to invest in real estate in Manchester, you need to know a lot about urban development. In the last 20 years, billions of dollars have been spent to fix up old industrial areas, make transportation better, and build new houses. It has made Manchester’s property market one of the fastest-growing in the UK.
We’ve worked with investors looking for rental income, long-term capital growth, and portfolio expansion, and one thing is clear: Manchester’s regeneration is shaping the future of property investment. Knowing where the biggest developments are happening helps you get in early, buy at the right price, and maximise your returns.
Let’s break down some of the biggest regeneration projects in Manchester right now.
6-7%
Average Rental Yields
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What Are the Major Regeneration Projects in Manchester?
1.
Victoria North
Manchester
Covering 155 hectares of underused land north of Manchester city centre, Victoria North, originally known as Northern Gateway, is the biggest rehabilitation project in the city. Supported by a £4 billion investment, it will provide 15,000 new houses for 40,000 people over the next two decades, therefore meeting Manchester’s increasing housing need.
The project is a joint venture between Manchester City Council and Far East Consortium (FEC), designed to revitalise infrastructure, transport, and green spaces, making it a key part of the Northern Powerhouse initiative.
A standout feature of Victoria North is City River Park, a 46-hectare green corridor, set to become Manchester’s largest city-centre park. The project will integrate nature and city life to produce energy-efficient dwellings, walking trails, and exceptional public spaces. This will increase stability and well-being.
Along with Victoria North, The Gasworks New Town, Red Bank, Collyhurst, and New Cross are among the most significant projects in the area. The £400 million Gasworks project will deliver over 1,200 homes with a focus on sustainability and pedestrian-friendly spaces.
Red Bank, Collyhurst, and New Cross will add new homes, infrastructure, and commercial space, supporting Manchester’s growth. The project will create thousands of jobs and attract investment.
2.
MediaCityUK
Manchester
Created with a £1 billion investment, MediaCityUK at Salford Quays is now the leading media, tech, and creative centre in the UK. Along with more than 250 companies, it hosts BBC, ITV, Kellogg’s, Ericsson, Its success has made Salford Quays a sought-after site for investors and professionals.
A new £1 billion extension under fast development will double the size of the area and draw more firms, people, and investment prospects. This development will provide 800,000 square feet of commercial space and 3,200 new dwellings, therefore supporting MediaCityUK’s reputation as a top investment destination.
Demand rises as thousands of professionals hunt rental homes close to MediaCityUK. With a three-bedroom flat now costing £1,750 PCM (Rightmove, 2024), rental rates have skyrocketed.
Professionals choose MediaCityUK because of two tram stops that provide quick access to Manchester city core. Its connectedness contributes to its attraction to both homeowners and businesses.
With rental returns of 6-7%, investors will be outperforming several UK cities. The continuous economic growth in the area fuels great demand for rental homes.
MediaCityUK provides excellent capital appreciation and long-term rental revenue as global businesses migrate in and future expansion is expected.
Among Manchester’s most significant redevelopment projects, NOMA has an £800 million investment committed to turning 20 acres of property north of the city centre. This large-scale building creates a new residential and commercial neighbourhood attracting investors looking for major opportunities for capital gain as well as international companies and experts.
The 1 million square foot residential complex is perfect for buy-to- let investors looking for strong rental demand. Apart from that, 550,000 square feet of office space are attracting big companies; 200,000 square feet of hotel space is expected to increase travel and business travel.
A key milestone for NOMA is the arrival of Amazon’s first UK headquarters outside London, bringing thousands of jobs to the area (Manchester Regeneration Report, 2024). Set for completion in 2029, NOMA offers prime off-plan and new-build investment opportunities with strong capital growth potential.
3.
NOMA
Manchester
4.
Mayfield Regeneration Project
MANCHESTER
The £1.4 billion Mayfield project is turning a 24-acre property near Manchester Piccadilly into a bustling mixed-use district. The initiative will produce over 13,000 jobs and attract businesses, making it a leading investment centre. It will have over 2.3 million square feet of office space, 1,500 new homes, and Mayfield Park.
With 6.5 acres of green space for both locals and visitors, Mayfield Park – Manchester’s first new city-centre park in over 100 years – provides a notable achievement of the project so far.
Mayfield’s rental demand is likely to increase dramatically as companies relocate here and new residences are under construction.
More than 200,000 square feet of stores, eateries, and entertainment venues will improve the appeal to both locals and businesspeople in the neighbourhood.
£1.3 Billion
Total Investment in Manchester Airport Redevelopment
5.
Manchester Airport Redevelopment
MANCHESTER
Manchester Airport is undergoing a £1.3 billion transformation to modernise its facilities and strengthen its position as a major international travel hub.
This project includes the expansion of Terminal 2, which has doubled in size to give passengers a more spacious and modern experience. To improve passenger experience, the project adds cutting-edge technology, additional shops, bars, and restaurants, and increased security.
An independent report estimates that the airport’s contribution to the Northern economy will grow by nearly 80%, reaching £6.3 billion by 2040.
With about 16,400 new employment predicted from this growth, the airport’s importance as a main economic generator in the area will be reinforced. Attracting international airlines and companies will help Manchester’s economy be even more supported for long-term regional development.
Surrounding districts include Wythenshawe, Altrincham, and Stockport are growingly appealing to property investors. The renovation is expected to spur commercial growth, resulting in fresh retail, hotel, and office buildings all around the airport.
This expansion is probably going to raise demand for homes in these places, so driving up property values and providing good chances for long-term capital appreciation.
All things considered, the Manchester Airport renovation will help to increase the city’s worldwide travel and commercial hub’s reputation, so generating important prospects for companies, investors, and the general economy.
6.
Spinningfields
MANCHESTER
If you’ve ever walked through Spinningfields, you’ll know it’s nothing short of impressive. Originally an undeveloped region in the centre of Manchester, it is now among the top business districts in the United Kingdom, sometimes known as “the Canary Wharf of the North.”
Attracting major companies and high-paid professionals from around the world, this £1.5 billion regeneration project has transformed Spinningfields into a powerhouse for finance, law and technology. For property investors as well as companies, it is now one of Manchester’s most sought-after sites.
Spread over 430,000 square metres, Spinningfields is a top destination for professionals and city dwellers as it offers a mix of office, retail and residential space. Global financial giants such as HSBC, Barclays and Deloitte have set up offices here, along with elite law firms, confirming the district’s image as an important financial centre.
The development has also been a key economic driver, with over 16,000 jobs created since its inception, boosting rental demand across the area. With stylish flats and first-rate office spaces, Spinningfields draws high-income tenants who drive rental rates beyond £1,800 PCM. Over a decade, property values have increased over 35%; they are expected to climb still more.
MCR Property Group’s £400 million Gasworks New Town project would turn the derelict Rochdale Road Gas Works into an elegant residential neighbourhood. That is being approved by Manchester City Council in June 2021.
7.
New Islington & Ancoats
MANCHESTER
Just a few years ago, New Islington and Ancoats were far from prime investment locations, with abandoned buildings and disused warehouses defining the area.
But a £300 million rehabilitation plan has turned this once-neglected neighbourhood into one of Manchester’s most sought-after locations for investors and young people. New residences, better infrastructure, and a vibrant creative environment help to make the area a major property investment magnet today.
Over 3,400 new dwellings, including social housing with luxury apartments, have been created as part of the rebuilding. Green areas like Ancoats Green and the New Islington Marina have added appeal to the region, therefore improving its residential and community value.
Particularly with the New Islington Tram Stop, improved connectivity has driven demand even more and made this highly sought-after site for city-centre living.
Ancoats’ rental yields for investors are at 5.8%, far above the UK average 5.6%. Since 2018, house prices have also increased by 3%. Currently averaging £248,212.
Many investors have capitalised on studio and one-bedroom flats in developments by Urban Splash, which continue to attract professionals seeking stylish, modern homes.
With strong rental demand and excellent long-term capital appreciation potential, New Islington and Ancoats remain prime locations for buy-to-let investment.
8.
St John’s Development
MANCHESTER
The old Granada TV studios will be turned into a thriving mixed-use neighbourhood, and St. John’s will become Manchester’s most important creative and cultural area.
With a £1 billion investment, this big project will build 2,500 new homes, 600,000 square feet of office space, and Factory International, a world-class arts venue that will cost £110 million.
Designed to attract artists, entrepreneurs, and professionals, St John’s is one of Manchester’s most exciting regeneration projects, blending residential, commercial, and cultural spaces into a vibrant city hub.
The project is expected to boost property demand and rental yields, making it highly attractive for investors. St John’s will be a hub for arts, business, and modern city living, featuring a diverse range of housing options and office spaces to accommodate professionals and creatives.
A standout feature of the development is Factory International, a landmark arts venue that will attract global music, theatre, and cultural events, enhancing the area’s appeal as a major entertainment destination.
Because it’s so close to Spinningfields and Deansgate, St. John’s is very popular with young workers and high-earning renters, which increases the demand for rentals and homes. Thousands of students, artists, and professionals are expected to move into the area, which means that renting yields will be high and values will rise over time.
St John’s is destined to become among the most interesting and profitable locations for investment in Manchester as the city’s cultural profile keeps developing.
9.
Etihad Campus
MANCHESTER
With the £300 million renovation of Etihad Stadium, Manchester’s world-class sporting facilities is growing by 60,000 seats. The project includes a 400-bed hotel, a new club shop, a museum, and a sky bar. This growth is attracting businesses, professionals, and investors, boosting East Manchester’s economy.
The Etihad Campus is home to Manchester City Football Club and boasts one of Europe’s premier training academies, the City Football Academy.
Boosting Local Economy
The development is generating employment and drawing companies, therefore enhancing East Manchester's investment capacity and economic growth potential.
Improved Connectivity
Better transport links and Metrolink additions help to make the area more accessible, so attracting more people both for businesses and residences.
Rising Rental
Demand
Renting demand is being driven by new companies, hotels, and retail venues, thereby presenting great chances for property investors.
Angel Gardens
Angel Gardens is located in an up-and-coming district of Liverpool. It is in close proximity to two major regeneration projects: the £150 million Project Jennifer and the £5.1 billion Liverpool Waters scheme.
£20k
10%
£1.5k
Property Price
How Have These Projects Impacted Manchester’s Economy and Population?
Not only has Manchester’s redevelopment changed the city’s skyline, it has also had a huge effect on its business, population, and real estate market. Manchester is one of the UK’s fastest-growing cities, bringing in record numbers of businesses, professionals, and students. This is because billions of pounds have been spent on housing, business areas, transport, and cultural spaces.
Manchester’s Population Growth
Manchester’s population has surged from 503,127 (2011) to 552,000 (2021)—a 9.7% increase, highlighting the city’s growing appeal (ONS, 2024).
Student Demand for Rentals
Over 100,000 students are enrolled in Manchester’s universities, fueling huge demand for rental properties and driving strong occupancy rates in student accommodation.
High Rental Yields in Manchester
High rental yields averaging 6-7%, significantly above London’s 3-4% average, making Manchester one of the best cities in the UK for buy-to-let investment (Totally Money, 2024).
Business Hubs Creating
Jobs
Major business hubs like Spinningfields, NOMA, and MediaCityUK have created thousands of new jobs, attracting young professionals and skilled workers to the city.
Manchester’s Rapid Economic Growth
Manchester’s economy has grown by 44% since 2000, outpacing many other UK cities, with key sectors like tech, media, and finance booming (Greater Manchester Combined Authority, 2024).
Regeneration Boosting Property Values
Regeneration has pushed property values up, positioning Manchester as a top UK investment hotspot for buy-to-let investors and developers.
What Are the Future Plans for
Urban Regeneration in Manchester?
Manchester’s urban regeneration continues with several transformative projects, each with significant investments poised to reshape the city’s landscape and economy.
The city of Manchester is still being rebuilt, and a number of big projects are being planned that will change the city’s business and landscape.
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Conclusion
Manchester has regenerated its industrial regions into residential, business, and cultural hotspots. Victoria North, Piccadilly Central, and MediaCityUK are getting billions of pounds to improve, which means the city will continue to grow.
As new industrial developments open and old ones close, Manchester stays one of the best places in the UK to buy property, grow a business, and live in a city.
Getting in early on areas that are undergoing redevelopment can offer investors high rental returns and strong capital growth. This will make Manchester a city to watch over the next ten years.
Investing in Manchester’s regeneration means being part of a thriving North West hub, where landmarks like One Angel Square symbolise growth. From the dynamic High Street to the evolving Withington Village, every development project is shaping the city’s future. Just like its people, each investment is a valuable items, contributing to city of Manchester, expanding opportunities.
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Frequently Asked Questions
Manchester’s regeneration work started in the 1990s following the decline of its industrial economy and was further accelerated post-2000 with large-scale housing, commercial, and infrastructure projects. Key developments like Spinningfields (£1.5bn), NOMA (£800m), and MediaCityUK (£2bn) have driven economic growth, attracting businesses, young professionals, and investors. Improved transport links, cultural attractions, and high-quality housing have played a vital role in transforming Manchester into one of the UK’s most dynamic cities.
Over the next decade, Manchester will continue to expand through major regeneration schemes such as Victoria North (£4bn), HS2, and Piccadilly Central (£1.7bn). These developments will bring thousands of new homes, job opportunities, and commercial spaces, strengthening Manchester’s position as a leading UK business and property investment hub. Improved transport connectivity through HS2 will also make the city even more accessible, attracting more businesses and professionals.
MediaCityUK has played a huge role in Manchester’s economic revival, creating over 10,000 jobs and becoming a home for BBC, ITV, Kellogg’s, and more than 250 companies. Its initial £1 billion investment turned Salford Quays into a global media and tech hub, and with a further £1 billion expansion underway, it continues to attract international businesses and property investors. The area’s high rental demand and strong property price growth make it one of the most attractive buy-to-let locations in Manchester.
Regeneration creates new infrastructure, jobs, and amenities, making areas more desirable for residents and businesses. This leads to higher property demand, increased rental yields, and long-term capital appreciation. Investors benefit from rising house prices and strong tenant demand, particularly in areas undergoing major redevelopment, such as New Islington, Ancoats, and Victoria North.
Yes, regeneration can significantly boost house prices by improving an area’s infrastructure, amenities, and business appeal. For instance, areas like Spinningfields have experienced substantial property value growth due to extensive redevelopment efforts. As more regeneration projects take shape, property values in Manchester are expected to rise further.
The largest regeneration project in Manchester is Victoria North (£4 billion), which is set to deliver 15,000 new homes, commercial spaces, and new transport links over the next 20 years. Covering Collyhurst, New Cross, Red Bank, and the Lower Irk Valley, it is the biggest urban renewal scheme in the city’s history, transforming North Manchester into a modern, well-connected residential and business hub.
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