Bernstein says Manchester Place will trigger investment surge

THE pioneering Manchester Place partnership between Manchester City Council and the Home & Communities Agency will spark ” unprecedented levels of activity and investment”  in the coming years, the property community was told.

Speaking at the launch of the strategic body which will help Manchester deliver 55,000 new homes for sale or rent in Manchester over the coming years, Sir Howard Bernstein said the city was now on the radar of developers and investors from beyond the region.

He told TheBusinessDesk: “There are investors here from London, who would not have given us a second look before – we want to grow and deepen our investor base.

“We have created a new framework with Manchester Place for investment to happen. We’re very hard at work developing detailed plans for strategic areas, to be published in the autumn.”

The event, at the city’s Central Library was attended by around 60 leading property players, who were told that with a growing population – it is the fastest growing city in the UK – there is a need for thoudsands of new homes, and communities.

Sir Richard Leese, leader of Manchester City Council said: “Manchester is proving to be a magnet for investment and to build an ambitious, aspirational city you need to have places for people to live. Quality of place goes hand in hand with a growing city.

“If we don’t see homes and housing being provided on the supply side, it’s going to damage our long term prospects.”

Deborah McLaughlin, executive director of the Homes and Communities Agency in the North West said the Manchester partnership could be a blueprint for other cities.

“Our partnership is about accelerating the pace of housebuilding in Manchester. and yes if it works, it could become a model for our work with other cities. We do of course work closely with Liverpool and Preston too, but not yet in such a formal way.

“What Manchester Place will do is allow us to share tasks, think strategically and to identify priorities. It makes the process much more efficient too as it means there is no duplication as we are bringing together our assets, skills and experience.

“We feel the potential here is enormous.”