BNY Mellon has published a new report, which includes contributions from Sir Howard Bernstein and the developer behind Spinningfields, considering the growth prospects for Mancheseter over the next 10 years. Their conclusion is that around 55,000 new jobs are likely to be created which would result in the City Centre growing upwards and outwards.
Another consequence of that growth will be an increase in population and further demand for new homes. The BNY Mellon report expects the population of just the Manchester City Council area to grow by some 125,000 people over the next 10 years, creating a need for 9,000 new homes simply to keep pace with demand – and without making up any shortfalls of delivery from the past.
With the levels of growth predicted, there will be knock on effects for the wider Manchester City Region too, with the economies of neighbouring boroughs benefiting from Manchester’s growth, creating a need for more new homes there too. That is one of the central factors that the new Greater Manchester Spatial Framework will consider when it sets housing targets for each of the boroughs in Greater Manchester.
All in all, this is a good time to be thinking about whether your site might be suitable for development to help meet this rapidly growing demand. Whatever the planners may have said about a site in the past, meeting this challenge is likely to mean tearing up existing planning policies and producing new ones that will allow an appropriate level of development to come forward. The Strategic Land Group are skilled in delivering planning permissions on exactly those sorts of sites – so if you know of a piece of land that could benefit from our unique, tailored approach, please don’t hesitate to get in touch.
Image courtesy of Stacey MacNaught on Flickr.
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