Manchester: the sunshine capital of the UK. It’s difficult to determine what exactly Manchester has in common with the somewhat warmer and drier climes of China or the Middle East. Yet, it’s a hub of international investment.
In recent times, the region’s ability to attract foreign capital has been substantial; the city is fast becoming the beneficiary of millions of pounds’ worth of investment.
During his visit in 2015, president Xi Jinping agreed some £40bn in commercial deals, including plans to develop ‘Airport City’ and two new commercial spaces: Wuhan Square and Shenzhen Gardens. Add to that announcements from airlines Cathay Pacific and Hainan, and the City has potential to become a major partner with Hong Kong and Beijing.
Direct overseas international investment is transforming Manchester; the former Bootle Street Police Station is becoming St. Michaels, a multi-use site comprising of a five-star hotel, luxury apartments, office space and restaurants.
Middle Eastern investment goes far beyond those into the city’s two football teams. It extends to new residential clusters in Angel Gardens – a 458-unit development in the city centre – and a £1bn investment into New Islington and Ancoats, resulting in 6,000 benchmark homes.
The Global Landlord
Manchester’s residential property market is, beyond doubt, booming. There has been a spate of redeveloped areas, conversions and new developments at each point of the city’s compass. First Street continues to emerge with the completion of The Assembly development, and Rivergate House at the newly-created Wilburn Wharf is literally months away. Noma, St. John’s; the list continues.
As Manchester sits comfortably with a host of international commercial investors and wealth funds, so too grows the number of private residential asset investors whom are becoming increasingly vested in the city’s interests. Investors are expanding their residential portfolios overseas and into the city, with real estate being the leading asset class for those in Asia and the Middle East.
A Complete Difference
The needs of global landlords vary significantly from local investors; focused management and navigation of the complexities of overseas markets, laws and tax customs are central to their concerns.
In July 2016, Complete opened its Manchester office, responding to the demand from overseas investors to manage their portfolios and continued investments in the city.
Our company already has significant footprint in two of the newest developments in the city: The Assembly on Cambridge Street, Manchester’s second-tallest residential development, and Rivergate House. An historic conversion of the paper warehouse, Harter Street, is due for completion soon.
Complete are Manchester’s leading partner for investors and overseas landlords who wish to spread the complexities of managing their residential investment assets across international markets. With a firm footing in thirteen markets globally, and offices in Manchester, London, Hong Kong, Kuala Lumpur and Berlin, we have a total of $0.8bn in assets under management. The international perspective and considerable understanding of global portfolio holders’ needs is our ultimate point of difference.
Manchester has always been a pioneer and a game-changer. Our city is growing and we’re proud to be growing with it.