September 2019, Worrall St Construction Update

It’s been a busy summer since the existing building has been demolished and the land where  The Waterhouse will eventually stand.  

Since the last update, we’ve turned the entire site over to ensure that there are no obstructions in the soil. Our remediation contractor (Forshaw Demolition) has then compacted the soil in layers ensuring that the ground is ready to receive and support our building. Our main contractor has taken possession of the site and the piling rig is there now driving the concrete piles deep into the ground, these will be what the building stands upon when construction is completed, the cabins are in place and the perimeter fencing to the road is now up too.

There is a couple of weeks piling ahead of us before we can start pouring concrete, which will be the next update.

Piling Rig 2

Construction Update, Worrall Street

Remediation works and site preparation continue at our riverside site at Worrall St, Salford as a precursor to the commencement of ground works shortly.


Construction Update, Worrall St

After manually stripping off the roof last week, the “boys with their toys” arrived on site this week and quickly made their mark as the heavy machinery swung into action at Worrall St, Salford.

The job’s a good ‘un.

The existing brick building now demolished allows surveys and ground works to commence over the coming months for delivery of 86 new build high specification waterside apartments due for completion 2020.

With pre-sales well under way, there are still some river fronting units available. View more details here or just complete the contact form below to receive a comprehensive brochure and floor plans.

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Construction Update, on Worrall Street – Manchester

Our Remediation Strategy for our Worrall Street site in Salford was approved last week by the council. We are now permitted to conduct environmental studies and take the required soil samples for analysis prior to construction.

The demolition company has been appointed and the demolition of the existing brick structure is now underway.

The Worrall St site fenced off with demolition now starting.
The existing building to be demolished to provide 86 new build waterfront apartments.
The first crews arrived on site this week.
The roof has to be manually removed prior to the larger demolition machinery arriving.
The internal fittings area also ripped out prior to demolition of the brick structure.

Works are set to continue over the next two weeks, with demolition of the existing building and remediation of the site to allow ground works to commence shortly.

With a growing population, Manchester and Salford are undergoing significant urban regeneration programmes which have led to a thriving local economy and bouyant rental market. Whether you’re a new or seasoned investor find out more about our fully-managed residential investment opportunities.


Growing population in Manchester creates need for more homes

Manchester, Leeds and Liverpool have all seen significant housing supply shortfalls in the face of an increase in demand from people wishing to live in the core city centres. And as result of political headwinds, the growth story may be somewhat stifled.

However, looking forward, the prospects for the major urban markets within Northern England are positive. As a recent report from JLL shows, Manchester, Leeds and Liverpool to all see price and rental growth over the next five years to be above the UK average.

In recent years Manchester City Centre has established itself as the most significant residential market in the UK with more than £1.6bn invested over the past 24 months in new purpose built private rental developments in the city centre, mainly on a forward funding basis.

A total of c. 5,600 purpose built private rental units are now under construction making Manchester by far the largest multifamily rental market outside London. While the sheer weight of residential development is impressive the growing importance of the city centre in meeting Greater Manchester’s overall housing need cannot be understated. The new Greater Manchester Spatial Framework – the region’s first ever blueprint for long term development – stipulates that brownfield sites in the city centre should provide for 50,000 new apartments over the next 20 years, a quarter of all projected housing need across the metropolitan county. Given that around 25% of the current 30,000-unit city centre pipeline is yet to get planning permission, supply is on course to meet demand for the first decade of the 20 year GMSF plan.

In the more immediate term Manchester has seen some significant economic wins which have boosted demand for city centre housing. In 2018, a total of 500,000 sq ft of office space was let in three standout deals to Amazon, Booking.com and HMRC.

JLL estimates that currently up to 3,000 units are needed per year for a growing city centre population expected to rise from 55,000 currently to 100,000 by 2026. And given that delivery in the last five years has averaged less than 1,000 new units per annum, a ramp up in supply is long overdue.

House price and rental growth in 2018 was more in line with the rest of the country following considerable growth in recent years. The price of a two bedroom city centre apartment increased by 2% and with supply becoming more closely aligned to demand, JLL expects price growth of 3% pa over the next five years compared with a national average of 2.2% pa. Rental growth in Manchester is forecast to average 3.1% pa compared with 2.4% pa across the UK.

Source: JLL Residential Forecast Northern England 2019

Waterhouse Manchester
“The Waterhouse”, an example of one of our new-build waterside Manchester developments

Why not check out all our current developments and find out how you can also profit from the Manchester booming property market.

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10,000 new jobs to be created at Manchester’s Enterprise City

Already one of the most sought after areas to live and rent in Manchester, Castlefield is to see further demand with the announcement of Enterprise City.

Enterprise City comprises of 1 million sq.ft of office space across 10 buildings and 10,000 new jobs to be created in the South of the city centre. A state of the art office space is designed to attract further global brands and will make up a new tech, digital and media hub.

With household names such as e-commerce giant Booking.com moving their new global headquarters here and WPP the World’s 2nd largest advertising group moving to Castlefield, this already coveted district of Manchester will see a further influx of professionals.

As one of Manchester’s leading developer’s, we strategically place our residential developments in prime city centre locations and also areas earmarked for future growth and gentrification. With the announcement of Enterprise City, our River Plaza residential development now ticks both of these boxes.

Enterprise city Manchester
JLL have forecast residential property to grow by 28.2% by 2022. This would be the case for any area within the city. For a continuation of this growth or a ‘second wave’, it is important to look at gentrification and regeneration areas. Where is the demand going to be sustainable? Which part of the city is going to keep evolving?

From River Plaza, a short walk along the river brings you to Regent Road and extra few minutes brings you to Enterprise City and the heart of Castlefield.

Whether your property purchase is to live in or for a buy-to-let, it is always an investment. Investment is about timing and location – which is key to this development. This will always sit in a prime, Manchester City centre location and is couples with sustainable, long term growth.
River Plaza Logo

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View the Forshaw Group Corporate Film

Forshaw Land & Property Group is a privately owned family company. With half a century of property development experience spanning the whole of the U.K.,we know what it takes to create a better investment opportunity.
We take unloved land and forgotten buildings and turn them into unique spaces that bring land back to life. We develop and redevelop for prestige residential, commercial, mixed use and student living.
View our current developments here

We have an impressive pipeline of residential developments in prime city centre locations with a focus on the Northern Powerhouse hotspots of Manchester and Salford Quays. Whether you are a buy-to-let landlord looking for solid rental returns or an owner occupier seeking an enviable city living life style, Forshaw delivers.

Homes worth living in. Homes worth investing in.


Manchester Registers Highest Annual Price Growth

The Hometrack UK Cities House Price Index June issue, has highlighted Manchester as the UK’s city with the highest year-on-year house price growth rate of 7.4%, followed by Liverpool (7.2%), Birmingham (6.8%) and Leicester (6.5%).

It comes as no surprise that Manchester also has the lowest level of discounting (2.2%) across England and Wales as prices remain on the upward curve.
manchester city tram
Added to this, a recent report from GoCompare identifies Manchester as the best place to be a landlord in the UK, as the city records the highest average rental yields and highest rental market growth. Other notable figures from the report include :

# UK city house price inflation 4.6% year on year ranging from +7.6% to -2.8%.

# 3-month growth rate in London increases as sellers become more realistic on pricing. The discounts from asking prices in London are narrowing which is a positive for sales volumes.

# Manchester has the lowest level of price discounting and the highest annual growth rate.

The report goes on to say that they expect current trends to continue into the second half of 2018 as housing market forces continue to play out against the backdrop of rising employment and low mortgage rates. The main risks on the horizon are the timing and scale of any increase in mortgage rates and how the BREXIT negotiations unfold in the coming months and in the run up to March 2019. Click here to view the full Hometrack report.
manchester shopping centre
With such strong economic fundamentals underpinning the property market in the North West, Manchester should be on every investors radar. View our current new build and off plan residential developments and register your details below to receive more details on all our investment opportunities and new development launches.

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Unveil Manchester’s Northern Gateway

A detailed vision for the Northern Gateway project, a residential-led development programme that will see 15,000 new homes in the next 15-20 years, is being considered by Manchester City Council Executive later this week.

The draft Strategic Regeneration Framework (SRF) sets out eight clear core objectives for the regeneration programme and will be a template for development planning over the next decade, driving the ambitions of the Northern Gateway reports TheBusinessDesk.com.

At 155 hectares, it is one of the largest residential-led regeneration projects in the UK. A key theme of the Gateway is a unique city river park connecting seven new and emerging neighbourhoods through high quality open green spaces and public squares.

The ambitious green space will stretch from Angel Meadow through to Collyhurst with the intention of attracting a wide range of biodiversity, while celebrating the existing architectural features of the valley, including Manchester’s Victorian railway arches.

The Northern Gateway will extend the residential opportunities north from the city centre creating the cluster of well-designed and distinct sustainable neighbourhoods, opening up a range of new retail and family-friendly leisure destinations in the north of the city.
working over coffee

With much improved connectivity,focusing on green transport, including walking, cycling and public transport, the Northern Gateway has the potential to attract a range of visitors from the city centre and beyond, taking advantage of the green space and leisure amenities, while improving the lifestyle residents.
Manchester city living

At its heart, the Northern Gateway is a residential-led development and aims to build a mix of 15,000 new homes over the next 15 years with at least 3,000 affordable homes.

If you are looking to invest in a world-class city which offers people a great place to live, an international airport and transport infrastructure which competes on a global level, then Manchester ticks all the boxes. View some of our current property investment opportunities or register your details below to receive our regular development updates and property launches.

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Manchester Airport Boosts Regional Growth

Nearly two million people passed through Manchester airport last month as passenger numbers grew by four per cent in March compared with the same month last year to confirm Manchester’s position as the UK’s third busiest airport and boosting regional growth.

March 2018 saw 1,988,233 passengers use the airport’s three terminals. That means 27,882,845 passengers have flown in and out of the airport during the last financial year – a 6.4% increase on full year 2016/17. Numbers are set to rise further this Summer, with the the introduction of new routes opening to Seattle with Thomas Cook Airlines, Florence with BA CityFlyer and Cagliari, Palermo and Ponta Delgada with Ryanair.

It’s a busy time at the airport as construction also gathers pace on the £1bn transformation and upgrade programme by a 700 people workforce which will see Terminal 2 more than double in size and includes building a new multi-storey car park and a new terminal link which should be in place for next year.

Manchester airport expansion

Manchester Airport is already one of the largest centres of employment in the North West with more than 22,000 people directly employed on site, supporting a further 48,000 jobs in the region. The airport is now looking to offer a further 600 job opportunities during the busy Summer months. As well as roles with Manchester Airport other major employers on site are also recruiting including Swissport, Boots,Thomas Cook Airlines and Jet2.com offering positions from pilots through to retail assistants.

Manchester’s long-haul catchment area places around 22 million people and 60% of all UK businesses within a two-hour drive time. With a booming local economy and increasing job prospects its no wonder that more people are looking to call Manchester “home”. This population growth in turn is creating a huge demand for new homes and is having a knock on effect. Construction activity in the North West has risen by 31% since 2016, according to a report by Turner & Townsend, making the region the UK’s fastest-growing market. Already construction output in the region was up by 30.7% in the first quarter of the year, compared with the second quarter of 2016, with activity growing ahead of the West Midlands at 27.8% and the South West at 27.2%.

This all makes positive reading for North West buy-to-let investors who are expected to see the best returns nationally for 2018. The upward trend of house prices and rents looks set to continue with JLL predicting that capital values in Manchester are set to rise by a further 6.5% in 2018 whilst rents will increase by 3.5%.

working over coffee

Whether you are an existing investor looking to add to your portfolio or simply looking to boost your future pension provision, its certainly time to look more closely at the buy-to-let opportunities that Manchester offers. See current opportunities.


Manchester named one of the Best Cities in the World

Manchester has been named one of the best cities in the world for young people and students to live in according to the Millennial City Ranking, as reported by thebusinessdesk.com.

It is only the second time the list has been created and looks highlight global cities where digitally intuitive and entrepreneurial millennials are best choosing to make their home.

Out of 110 cities, Manchester made the top 10 list that looks at four main concerns for young people – does the city have available work, can young people afford to live a good life, is the city open and tolerant, and importantly, how fun is the city !

manchester cafe
In the list, other factors such as internet speed, gender equality, start-up opportunities and progress in the work place were also taken into account to understand the best cities for young people in 2018.

Manchester scored particularly well when it comes to personal freedom and choice, tolerance, and, of course nightlife.

Manchester has also been named fourth most popular place for students to live in the world, behind London and the Australian cities Melbourne and Sydney, according to wwww.student.com whose research looked at 426 cities across the world.

The research found that students are willing to travel across the globe for higher education and 19% of students studying in the UK are from abroad. At full-time postgraduate level, 53% of students are from outside the UK.

Sir Richard Leese, leader of Manchester City Council, said: “We know that Manchester is popular with young people and the popularity and high-quality teaching at the city’s universities mean more and more graduates are choosing to remain in the city, find a job and lay their roots here.
working over coffer

“Manchester offers the benefits of some of the world’s most recognisable cities, with great employment opportunities and entertainment – but young people can enjoy these benefits far more affordably than some of the other cities celebrated in the list, like London or New York.

“The city council also offers a range of advice and support for people who are looking to start and build a business in Manchester, which has proven successful for business from seed organisations through to multi-national business.”

As young professionals and students lead the population growth making Manchester their home, there is increasing demand for quality apartments with good access to the city and offering all the on site amenities to cater for modern life styles.

Increasing demand is putting upward pressure on rents and house prices with JLL forecasting Manchester house price rises of 6.5% and rents to increase by 3.5% in 2018. The economic fundamentals look good for buy-to-let investors in the North West. View investment opportunities here or register below to receive our property updates and new development launches.

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