North Manchester’s latest vision for the largest residential led regeneration project in the UK will commence under the new proposed plans for the Northern Gateway. Approved by councillors, the programme of development will see 15,000 new homes built across the city by 2038 due to an amalgamated venture between Manchester City Council and the Northern Gateway project office of the Far Eastern Consortium based in Manchester.
Manchester City Council has stated that the ambitious plans would be amongst the largest regeneration projects in the whole of the UK, covering 155 hectares – that’s 1,550,000 square metres!
One key feature of the greatly anticipated gateway will inject a new lease of life to the Irk River Valley by connecting seven emerging neighbourhoods through superior open green spaces coined ‘the green heart’ of Manchester. The surrounding areas of vast green space will stand proudly next to original architectural features Manchester is famed for, including Manchester’s Victorian Railway.
Councillor Suzanne Richards, Manchester City Council’s executive member for housing and regeneration said,
“The Northern Gateway is a once in a lifetime opportunity to transform the Irk Valley through the unique City Park, and we think deliver a template of how city living can be transformed to improve lifestyles and a collective sense of place.”
The Northern Gateway will provide a wealth of residential opportunities for local residents just north of the city centre by enhancing the area with a cluster of distinct sustainable neighbourhoods, complemented by new retail and leisure facilities – creating a hotspot for people to live, work and invest.
Investors are increasingly attracted to up and coming areas across Manchester that provide remarkable opportunities to secure robust rental yields. Due to the area experiencing a period of renaissance, the Northern Gateway will not only provide excellent returns but also a stronger chance of capital appreciation due to the multitude of development progressing throughout the region. RW Invest, property investment specialists based in Liverpool, offer a plethora of off plan properties across Manchester acquiring unbeatable assured rental yields across the rapidly thriving region.
Connectivity throughout Manchester is constantly evolving to fit in the with increased popularity and unrivalled reputation of the city and by focussing on green transport, the Northern Gateway is a magnet for attracting visitors from all around the globe, whilst improving the living standards for potential residents.
Residents, businesses and landowners will be invited to look at the prospective plans in September to share their thoughts during an eight-week consultation period offering face to face interaction and discussions. For landlords and potential investors, it is an opportunity to voice their opinion and concerns before the transformation of the Irk Valley commences.
Manchester Northern Gateway is a determined enterprise with unparalleled capability to deliver over the forthcoming months. Not only a hotbed for investment, but an important milestone towards creating affordable housing close to Manchester city centre. Central to the city’s strategy is to rise to meet a higher percentage of people’s needs during the spike in rocketing house prices across the city. Over the next ten years, Manchester needs 25,000 new homes and the Northern Gateway aims to help contribute to this monumental, but optimistic target.