The last 18 months have presented arguably the most turbulent period for the property industry since the financial crash with the rise in remote work, lockdown restrictions and economic uncertainty wreaking havoc in cities across the UK.
Workers and families left cities in their hoards with PwC’s Economic Outlook Report 2021 predicting that London’s population would decline for the first time in 20 years and statistics from numerous agents showing a trend of people leaving cities for a more rural lifestyle.
This transition had a crippling impact on inner-city economies and invoked a paralysing sense of uncertainty for Residential Developers across both the London and Manchester Property sectors to name a couple.
As we slowly emerge from the pandemic recent statistics have hinted that this trend may be beginning to come full circle with the flow of traffic returning and demand rising for City Centre properties. The Manchester property sector in particular is primed to capitalise on this as the city becomes an increasingly attractive proposition for buyers with continued investment and job creation from both the private sector and the government’s ‘levelling up’ agenda.
Here we shine a spotlight on five of the leading Manchester property developers.
Urban Splash
Co-founded back in 1993 by MBEs Tom Bloxham and Jonathan Falkingham, Urban Splash is one of the country’s most exciting property businesses. Founded with no business plan but a mission to breathe new life in to disused and dilapidated buildings, 28 years on the business has now built more than 5,000 homes.
The company’s innovative approach to development is successfully transforming the industry and their entrepreneurial and creative spirit has positioned the brand as one of the industry’s most exciting players.
The business has offices around the country from its HQ in Manchester through to sites in Sheffield and Bristol.
The firm’s residential fund boasts just shy of 200 homes in its portfolio and is targeting further expansion nationally following a stellar 2021 and receiving over £100m in renewed equity commitments amidst an incredibly challenging environment.
The firm is well and truly building the future and we look forward to seeing what 2022 has in store!
Renaker
The business behind Manchester’s ground-breaking Great Jackson Street masterplan, residential tower specialists Renaker are one of the area’s leading property developers. Following a successful 2021 the firm has recently tabled proposals for what would be two of Manchester’s most exciting developments on record, two 51-storey towers that would provide just under 1,000 new homes in the area.
The wider masterplan will create a whole new residential district in the Deansgate area of the city comprised of more than 25 towers and over 6,000 apartments. Renaker has already completed the four-tower, 1,500-home Deansgate Square, with an additional 1,500 new homes under construction across Elizabeth Tower, Circle and the Blade.
Property Alliance Group
Founded more than 30 years ago Property Alliance Group boasts a portfolio worth more than £400m spanning everything from workplaces through to leisure and residential properties. Under the stewardship of Managing Director Alex Russell (ex-CBRE) the business has completed on a number of impressive Manchester developments recently including the £80m Oxygen and the £45m Clayton Hotel.
Following these announcements the business has a number of exciting projects in the pipeline including the development of the former Renaissance hotel in partnership with Starwood Capital. The 27-storey tower would deliver yet another exciting development within the Deansgate area of the city and is in line with the company’s vision to create communities that in turn drive jobs and economic growth for the region.
Salboy
Owned by Simon Ismail and Betfred-owner Fred Done, Salboy specialise in Private Equity Investment and Property Development. Based in the North-West, the business has invested heavily in the regeneration of both Manchester and Salford as well as contributing to a number of projects nationwide.
Previously operating solely as a lender and investing in development projects, Salboy has evolved to become a developer themselves and have successfully delivered more than 2,400 homes.
Passionate about the Northern Powerhouse initiative and creating amazing places to live for those in the area, the business is behind the highly talked about Castle Irwell development, one of the Manchester Property sectors’ leading initiatives. The first phase of the project has already completed with over 150 properties already sold with a view to build a further 350 around a three-acre village green and park.
The business has made some exciting moves recently such as partnerships with GetGround and we look forward to seeing what 2022 has in store.
Allied London
Operating out of London, Manchester and Leeds, Allied London have won an impressive 75 awards for their developments across three of the UK’s key regions. With an overarching objective to ‘make great places’ the group deliver a range of mixed-use developments across a broad suite of urban environments.
The business is behind a number of landmark projects and has regenerated several listed buildings helping to create new, meaningful stories that contribute to their local communities.
With demand for office space returning following the pandemic, one of the year’s most high-profile deals was video game developer Cloud Imperium taking more than 85,000 sq ft of office space alongside Booking.com at Allied London’s Manchester Goods Yard development.
London’s Boxpark is also set for its first launch outside the Capital with plans to open in Allied’s flagship Enterprise City.
Click here to read our top tips on how developers can capitalise on the city scramble.
