Manchester’s property boom continues despite the COVID pandemic
Despite the world still struggling through the coronavirus pandemic, plans for more offices, jobs and apartments in Manchester are receiving billions of pounds in funding.
With Manchester and Salford’s skylines ever-changing, more high-rise developments continue to populate the city, with the latest Salboy endeavour, Viadux, continuing construction throughout lockdown and eagerly marching towards their deadlines.
Viadux, nestled on top of the Grade II-listed archways of the Castlefield Viaduct, will reach 40 storeys tall and establish itself as a statement alongside the illustrious Beetham Tower and Deansgate Square’s four towers. The development itself is reportedly worth a staggering £300 million and will no doubt become a prominent feature of Manchester’s skyline.
Alongside the continuation of construction for Viadux and the investments supporting the development, the property market in Manchester carries on, with a £350 million ‘world-class’ arena next to the Etihad Stadium being given the green light and Fusion Students announcing their own plans for a Deansgate tower. With billions of pounds still being invested in projects throughout Manchester, the market and investors have shown that they believe in the stability and future of Manchester’s projects.
Industry experts have repeatedly indicated that the property market has never been busier, with new projects being approved concurrently. Construction hasn’t stopped and plans, fees and commitment are up on the last three years.
Manchester’s property market is reportedly performing better than that of London after the rise in “northshoring” and more and more business and workers moving north to the more affordable cities. The confidence in Manchester’s market is set to continue as we move into 2021 with more plans approved and more buildings beginning construction, despite the pandemic.