Busting the capacity myth

20/10/2016

House building in Manchester is at its highest rate for six years with 9,000 new homes expected to complete by the end of 2018/19.

But just released data reveals that a continued increase in population, coupled with years of under supply means even the current building boom will fail to meet demand.

And while by 2019 the pipeline comes closer to fulfilling rental and buyer demand the city will remain consistently under supplied by more than 2,000 units a year – more than 1,000 of those needed in the city centre alone.

Manchester Place chief executive Paul Beardmore presented the analysis of the current housing boom pipeline and the long-term demand during a Business Showcase session at MIPIMUK .

He said: “While we are currently seeing large scale residential development, primarily in the city centre, we are a long way from being at capacity.

“All the forward looking data indicates that Manchester will continue to have a shortfall of housing and we need to ensure a steady supply chain for decades to come to support continued economic growth.

“What we have at the moment is chronic under-supply and when the developments currently under construction come to market they will simply mop up this latent demand.”

And the data shows that while entry-level stock could be absorbed by 2020 the need for mid range and premium stock will continue to be un-met up to 2024 and beyond.

 

Paul added: “It is very clear both from the research and from seeing the market first hand that there is pent up demand from both owner occupiers looking for high quality homes in the city to purchase and from renters looking for a quality rental product.

 

“There is an opportunity to expand the city centre market into surrounding areas such as the Irk Valley, Holt Town and Lower Medlock to accommodate quality homes for sale and rent.”

 

The full presentation can be downloaded here:mipim-uk-final

 

 

 

Three new developments secure funding

03/10/2016

Three residential schemes have secured loan funding from the Greater Manchester Housing Investment Fund.

The recoverable investment of £18.2m will help deliver 150 new homes on sites in Hyde, Sale and Manchester city centre.

The loans were approved by Greater Manchester Combined Authority and planning and housing lead Cllr Richard Farnell, said: “Investment in new housing is investment in Greater Manchester’s economy, providing much-needed quality housing for our residents and workers while supporting local house builders.

“The Greater Manchester Housing Fund has provided us with the tools to kickstart new developments, with more than £100m now committed. We’re pleased to be able to support these three schemes, highlighting the importance of taking decisions locally for the benefit of local people.”

The schemes in detail:

  • £2.5m to Nook and Key Ltd for the refurbishment of St Stephen’s Church in Hyde to create 16 apartments and build a further 14 houses on the surrounding site.
  • £6.9m to Azar Estates Ltd to build 24 houses on a site at  Northenden Road, Sale.
  • £10m to Waterside Places for 89 apartments and 12 townhouses at Islington Wharf, Manchester.

The Greater Manchester Housing Fund was established as part of Greater Manchester’s devolution deal to support developers in delivering new homes across the city region. The Housing Fund has already committed more than £100m in housing projects across Trafford, Oldham, Manchester, Bury and Salford

If you think the Fund could help your housing project get off the ground please get in touch for informal guidance and advice.

Contact – Martin Ewell on 0161 234 4061 / 07773 572703 or e-mail m.ewell@manchester.gov.uk

Revised Blueprints for Key Growth Areas

20/09/2016

Updated development guidelines have been drafted for Ancoats and New Islington together with neighbouring New Cross to give clearer guidance on Manchester’s long-term ambitions for the areas and to guide planning decisions.

The refreshed guidelines were agreed by Manchester City Council Executive in July and are now open for public consultation.

Ancoats and New Islington has seen increased developer interest since the last framework was approved in 2014 with regeneration expanding to northern parts of Ancoats and along the Ashton Canal/Pollard Street corridor.

The Draft Neighbourhood Development Framework sets out the long-term ambitions for the area as a high quality, sustainable and distinctive residential area that will support future residential growth as part of the planned expansion of the city centre in the next 10 to 15 years.

New Cross spans an area on the city’s northeastern edge bounded by Swan Street; Livesey Street; Rochdale Road and Bromley Street; and Oldham Road. The new framework will provide clear development principles within this area to ensure high quality new development, ensure that opportunities for residential and commercial development are maximised and guide how regeneration would progress.

Local businesses and stakeholders are being asked to comment and a public drop in session is being held at St Michael’s Church, Ancoats, from 2pm to 7pm on Thursday 29 September 2016.

Specific questions and comments can be sent to the city council’s strategic development team: strategic.development.team@manchester.gov.uk

 

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MIPIMUK

19/09/2016

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Manchester Place will be part of the Liverpool Manchester Partnership at MIPIMUK next month. (Oct 19th -21st)

The property exhibition and conference is a useful platform to hold conversations with developers and investors and a place to learn more about how high quality housing is being delivered across the UK

As part of the Business Showcase sessions Manchester Place chief executive Paul Beardmore will be revealing the latest residential supply and demand data for Manchester on Thursday October 20th.

‘Manchester Residential – Busting The Capacity Myth’ will give an in-depth appraisal of the city’s housing market, current demand and future opportunities followed by an audience Q and A session.

If you would like to schedule a private meeting with Paul during MIPIMUK please e-mail: p.beardmore@manchester.gov.uk

http://www.mipimuk.co.uk/

Board co-chair moving on

12/09/2016

Deborah McLaughlin, co-chair of the Manchester Place board is leaving the Homes and Communities Agency to take up a role in the private sector.

Currently executive director for the North West area she is joining property constancy GL Hearn, a subsidiary of Capita.

She had returned to the HCA role in January this year after a high profile 12-month secondment as the first chief executive of Manchester Place that saw the partnership represented on overseas trade missions to China and the launch of major residential development sites in the city.

Her replacement on the Manchester Place board is expected to be announced when she leaves the HCA at the end of October.

 

New Residential Design Standards Consultation

24/08/2016

Manchester City Council is developing its own design and quality standard for new housing across the city.

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The quality guidance will demand design excellence in all new housing built in the city, set minimum space standards, and ensure high environmental standards.

The draft guide has been drawn up a multi-discipline team of architects and housing professionals, chaired by former RIBA president Stephen Hodder, and covers planning, urban design, place making and architecture.

It is currently out for consultation with residents being asked how they would like communities of the future to look like and what good housing means to them. Views are also being sought from the wider property community.

Architect Stephen Hodder of Hodder and Partners, said: “I’m intensely aware of the importance of the role we have been given. We’re not just talking about the look and feel of new residential development, but a wholesale city-wide approach to how people live, how they interact with the homes they live in and how those homes impact on the carbon reduction ambitions of the city. It’s an exciting prospect, but one that needs to be taken incredibly seriously.”

Make it Manchesterdevelopers must understand the city’s unique character, heritage old and new, density and scale in various parts of the city and appreciate how new homes will fit in to what’s already there.

Make it bring people togethernew homes must encourage a sense of community and neighbourliness, offering a mix of tenures to promote a mix of people.

Make it animate streets and spacesunderstand the relationship between new homes and its environment and create public space.

Make it easy to get aroundmake sure developments have good transport links, along with good walking and cycling provision.

Make work with the landscapedevelopment should improve the connection with the local environment with improved biodiversity, as well as greening and water schemes.

Make it practicaldealing with waste, car parking, bike storage and visitors should be made as easy as possible.

Make it future proofdesign must anticipate the impacts of climate change and extreme weather with efficient design and adaptability.

Make it a homesufficient space, natural light, privacy and storage are essential for people to settle down and flourish.

Make it happen ensuring proposals are delivered, to a high quality, with high design standards and high sustainability.

The full draft guide can be read here

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Partner announced for key residential site

19/08/2016

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Manchester Place has appointed development partners to deliver around 500 new homes on a key site at the southern gateway to Manchester city centre.

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Buccleuch Property, through one of its core residential joint ventures Queenberry Properties, has been selected to develop the site at Little Peter Street that is bounded by Medlock Street, Jordan Street and the River Medlock.

The JV is backed by Dutch based investment management fund Bouwfonds and the deal announcement is a continued signal of strong post Brexit confidence in Manchester by investors – this time from within Europe.

David Peck,
Managing Director, Buccleuch Property

“We are hugely excited about the opportunity Little Peter Street represents and believe its location at the heart of this strategic masterplan makes it one of the most important sites in the city.

“Our vision is for a high quality residential led development that will create a neighbourhood where people will want to live, work and create a sense of community and play.”

The site is part of the wider development framework for First Street which includes the arts centre HOME and the proposed scheme will deliver a split of apartments for sale and rent as well as ground floor mixed use and new public realm.

Queensberry will now work with the City and local stakeholders on detailed plans for the site.

Sir Richard Leese,
Manchester City Council leader

“This development will create another high quality neighbourhood in the city centre, adding to the mix of residential options, providing new public space and opening up the River Medlock to link with nearby neighbourhoods such as First Street.

“It is yet another vote of confidence in Manchester by investors and demonstrates that it is very much business as usual for the City.”

Paul Beardmore,
Chief Executive of Manchester Place

“Manchester Place continues to promote and support great residential growth in the city. This is another example of our involvement in making things happen on the ground and bringing in new names in the world of development and investment.”

 

Notes

Buccleuch Property represents the commercial property interests of Buccleuch operating in the investment and development markets together with significant interests in the strategic land and residential sectors.

With offices in Edinburgh and London it has a market exposure circa £250m through a UK wide investment portfolio, a commercial development pipeline in excess of 2.5m sq ft and a strategic land portfolio with over 12,000 consented residential units.

With an increasing portfolio of opportunities across the UK and with joint ventures in the US and Germany Buccleuch Property is a committed and financially sound primary investor and seasoned JV partner with the benefit of a strong balance sheet and access to long term finance.
www.buccleuchproperty.co.uk

 

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Selective Licensing: Have your say on how to improve private rented housing

19/08/2016

The city council is proposing to introduce a landlord licensing scheme in north Manchester to help improve housing standards in areas where there are a lot of private landlords and we want your views and ideas about how we can make this work for everyone.

A 10-week consultation opens today
Visit www.manchester.gov.uk/consultations to see what good housing means to local people and this information will be used to inform a Selective Licensing scheme in north Manchester.

Selective Licensing is a focused programme that requires landlords or management agents to licence their properties if they rent a home in a specific area.

Initially focussed on a small part of Crumpsall, covering an area of around 400 private sector homes, the selective licensing scheme will look to improve management standards and conditions of private rented housing and support the reduction of anti-social behaviour.

Three other pilot areas have been identified – parts of Rusholme, Moston and Old Moat (Withington) – will follow the Crumpsall consultation, and each will be used to monitor the effectiveness of Selective Licensing in Manchester.

Licensing privately rented properties includes mandatory conditions to ensure good management of private properties, including:

  • An up to date gas and electric safety certificate
  • Safe condition of electrical appliances
  • Fitted smoke detectors in a working condition
  • Providing the tenant with a written tenancy agreement
  • Demand a reference for prospective tenants
  • The city council can also attach specific conditions
    to improve specific issues

A landlord must apply for a licence if they rent a property in the licensable area and can be fined for not obtaining a licence.

Cllr Garry Bridges
Manchester City Council’s lead member for Selective Licensing

“We’re proposing a very focused selective licensing area, which means we can concentrate our efforts on a specific part of Crumpsall so that we can be clear on the impact and measure what works and what doesn’t.

“We see this as the first of a number of focussed programmes that will help improve private sector housing for tenants and the wider community, but we would like to know what you think and to hear your experiences of living in the area whether as a tenant or owner, so we can tailor the programme to best suit the local area.”

GP surgery and shops to create new community hub in West Gorton

18/08/2016

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Works have started on site to deliver a new Community Hub on the corner of Hyde Road and Clowes Street in West Gorton, a key component of the comprehensive regeneration programme that is being delivered to transform the area.

The project is being delivered by LSP Developments on land being made available by Manchester City Council.

The project involves the relocation of the West Gorton Medical Centre from Wenlock Way, together with space for a pharmacy and shop with customer and disabled parking.

The development will also include a significant greening scheme throughout the site, including planting beds, a fruit tree corner and an edible garden – to provide the chance to learn about producing healthy foods.

The overall West Gorton regeneration programme is being delivered in partnership between the City Council, Keepmoat Homes, Matrix Homes and the Guinness Partnership.
The programme has involved the demolition of 440 outdated Council properties, including tow tower blocks, the building of 212 new homes for social rent; and the refurbishment of a further 144 retained homes. Keepmoat Homes are currently on site delivering up to 400 new homes for market sale.

The programme has also involved the extension of Armitage Primary school to provide additional school places, and the redevelopment of the former Fujitsu Complex as “The Space Project”, a purpose built facility for large scale television and film production, which over time, will create up to 500 new jobs.

Before the overall scheme is completed West Gorton will also see a new community park provided, together with other public realm improvements.

The Community Hub is expected to be completed by the summer 2017.

Cllr Bernard Priest,
Deputy Leader of Manchester City Council

“New homes alone cannot make a strong community. A community needs services and amenities to prosper. West Gorton’s regeneration programme is undoubtedly transformational for the area, but without this community hub the area would struggle to attract new families and grow.

“A huge amount of investment has given the area a new lease of life and the hub is what this neighbourhood deserves – one of the final pieces that will make West Gorton a neighbourhood of choice.”

Doctor Mike Eeckelaers,
West Gorton Medical Centre

“This is great news. We have been working with the City Council and colleagues in the NHS for some time to secure a new, modern facility from which we can meet the health needs of the local community. It is fantastic that this is now happening.”

Phil Lilley,
LSP Developments

“This scheme has been in the planning for a number of years. We are delighted to finally be on site and making our contribution to the continued redevelopment of West Gorton”.

Media contact
Simon Walker
0161 234 1010
s.walker2@manchester.gov.uk

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Manchester Place and NOMA announce developer for key city centre sites

12/08/2016

MP--Angel-Meadow-pic-Manchester Place and The Co-op have appointed The Far East Consortium International Ltd (FEC) to develop key sites close to Victoria Station.

The agreement will deliver more than 600 new homes as part of the NOMA neighbourhood and reinvigorate the historic Angel Meadow park.

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Totalling 2.37 acres (0.96 hectares) across four individual sites the new homes will be for both sale and rent and will include a landmark tower.

FEC is a Hong Kong based international property development company which has delivered projects in Australia, Malaysia and Singapore as well as mainland China and Hong Kong.

It recently won planning consent for Alpha Square in London, a scheme that will deliver 700 apartments, a new school and new health hub, hotel and pocket square.

The Angel Meadow agreement was confirmed with a visit to Manchester by FEC managing director Chris Hoong, who met Manchester City Council leader, Sir Richard Leese, Manchester Place chief executive Paul Beardmore and David Pringle, director of NOMA at the Co-op.

Mr Hoong said: “This is one of the most exciting residential opportunities not just in Manchester but in the UK right now and we are very proud and excited to be working with NOMA and the city council.
“We have assembled a team with the skills to deliver a new neighbourhood of international caliber and we would like this to be the start of a long relationship with the city.

“We have the knowledge and expertise to develop and deliver multi billion mixed use landmark schemes and we believe Angel Meadow will be another successful addition to our international portfolio.”

David Pringle, director of NOMA at The Co-op, said: “This is a great step forward for the second phase of residential development at NOMA. The Angel Meadow sites have the potential to redefine city centre living with the added benefit of being situated around a reinvigorated green park.

“With Moda Living’s Angel Gardens scheme also on site this year, NOMA will be providing an outstanding residential offer that supports our plans already underway to create a truly mixed use neighbourhood.”

NOMA is a key city centre location and the Angel Meadow plots mark the first phase of the Northern Gateway, a sweep of land from Victoria station north taking in New Cross, The Irk Valley and Collyhurst which in total has the potential for a new neighbourhood of 7,000 homes supported by social infrastructure.

It has been identified by Manchester Place as one of the major residential growth areas for the city.

Manchester City Council leader Sir Richard Leese welcomed FEC to the city and said: “This is exciting and positive news and we look forward to working with FEC to create new places to live. Manchester continues to grow at pace and we need more high quality homes to sustain that growth.

“This is an important site, close to good transport links, that will help unlock the further residential potential of the Irk Valley and wider Northern Gateway.

“I look forward to seeing detailed plans for homes for sale and rent and improved public realm around Angel Meadow itself.”

Paul Beardmore, chief executive of Manchester Place said: “This announcement demonstrates the value of Manchester Place in being able to bring together international investors, the City Council and land owners in the city in order to broker a significant residential investment and we are pleased to see it come to fruition.”

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