Urban Development Hub: New Jackson
Welcome to New Jackson, Manchester’s emerging skyscraper district and vibrant urban development hub for modern living. This dynamic area offers a modern living experience, blending city vibes with rapid urban development. Known by some as “Manc-hattan,” it mirrors the style of New York City’s iconic skyline with its towering residential buildings and ambitious designs. Let’s explore why this new neighbourhood is drawing attention and shaping the future of Manchester.
Skyscrapers of New Jackson: A Skyline Transformation
Manchester’s skyline has transformed with the rise of New Jackson. The area is home to stunning skyscrapers with urban-inspired names such as Viadux and The Blade. These glass towers would fit perfectly in New York or Dubai. With sleek facades and ultra-modern designs, the district is captivating both residents and visitors alike.
One of the main attractions in New Jackson is Club de Padel, a cool spot where you can enjoy padel tennis. The venue also features merchandise by Manchester’s brand UN
, which has become popular in both the UK and the US.
Urban Development Hub: Manchester’s Skyscraper Dreams
Manchester’s ambitions are reaching new heights, literally. Salboy, one of the developers driving the city’s skyscraper boom, plans to construct Viadux 2. If approved, this towering residential building would become the tallest in Western Europe, standing at 241 metres (790 feet).
Several developers are shaping Manchester’s skyline, including Salboy, Renaker, and Relentless Developments. Former footballer Gary Neville leads Relentless Developments, which adds a touch of celebrity status to the district’s growth.
The Building Boom: Five Years of Transformation
Manchester’s current building boom has been five years in the making. Supported by public funding from the Greater Manchester Investment Fund, the city has seen remarkable growth. Over this period, developers have built 22,000 new homes, thousands of hotel rooms, and millions of square feet of office space.
One of the most eye-catching developments is the Aviva Studios, a riverside landmark. The Aviva Studios represent the largest cultural investment in the UK since the Tate Modern opened in 2000, further solidifying Manchester’s status as a cultural hub.
Urban Development Hub: A Success Story
Deloitte describes Manchester’s recent growth as “transformative.” As the demand for new homes continues to grow across the UK, Manchester has delivered at an impressive pace. The city’s average for new-build homes stands at 6,349 units per year. In fact, in 2023 alone, developers completed 2,402 homes across ten different schemes, with an additional 11,764 units under construction.
Investing in Manchester: The Top Choice
Manchester has overtaken London as the top destination in England for residential investment. According to commercial real estate firm Colliers, this status is based on several key factors, including the economy, research and development, liveability, property trends, and sustainability.
In the last five years, property prices in Manchester have risen by 33%, which is more than double the 15% average across 20 other UK cities. Investors are attracted to Manchester for its promising returns and vibrant growth.
Sustaining Growth: Manchester’s Bright Future
With such rapid expansion, many wonder if Manchester’s growth can last. Could it face a crash similar to 2008, when rising house prices and overbuilding led to a sudden decline? Colliers, however, predicts sustained growth, backed by several strong factors.
Manchester’s population continues to rise, with a projected annual growth rate of 1.14% over the next decade. The city also has a large student population, with over 100,000 students, more than 60% of whom stay after graduating. This provides a stable rental market, with many students choosing to live and work in Manchester.
Additionally, the city has a thriving community of entrepreneurs and small business owners. These ambitious individuals are launching new companies, further boosting the local economy. Colliers also forecasts strong GDP growth for Manchester, expecting it to rise by 2.2% annually over the next five years.
A Growth Miracle: Jobs and Economic Development
Manchester’s success story isn’t just about new buildings. Job creation has soared in the city. From 2000 to 2021, jobs in Manchester grew by 49%, compared to a national average of just 21%. This job growth has been crucial in attracting new residents and supporting the housing market.
While other Northern cities face economic decline, Manchester continues to thrive. High streets in many cities are struggling, but Manchester is bucking the trend with growing wages and a booming economy.
Urban Development Hub: Luxury Living in Manchester
Manchester’s luxury residential market is flourishing. The city’s new towers offer premium living experiences for those who can afford them. One of the most luxurious options is the W Residences, a collection of branded apartments, which are the first of their kind in the UK outside London.
The W Residences come with high-end amenities and services designed by Bowler James Brindley, offering a lifestyle that’s hard to match. Apartments in this development can cost up to £6 million, making them the most expensive on the Manchester property market.
Rents and Property Prices: A Premium Market
Although the W Residences won’t be ready for another three years, other luxury buildings have already hit the market. Beecham Tower, a well-known landmark, offers a 4,450 square foot triplex for rent at £18,000 per month. Meanwhile, more typical new-build apartments in New Jackson, such as those in Viadux, rent for around £2,500 per month.
Despite these premium prices, there’s still a high demand for these luxury apartments. The average rent in Manchester’s M1 postcode is £1,313 per month, showing a significant price increase in the skyscraper district.
Urban Development Hub: The Role of International Students
Manchester attracts a large number of international students, many of whom choose to live in the city centre. These students often seek high-rise apartments in New Jackson, adding to the demand for residential properties in the area.
Manchester’s growing reputation as a business hub also plays a role in the high demand for apartments. Several major companies, including JP Morgan, Octopus Energy, and Rolls Royce, have moved their headquarters to Manchester. With 75 of the FTSE companies having offices in Manchester, the demand for central city living continues to rise.
Affordability: A Challenge?
For some, Manchester’s new luxury towers may seem out of reach. However, property investor Abi Hookway suggests that affordability is less of an issue than it appears. In many high-rise developments, there are waiting lists with hundreds of tenants willing to pay £2,500 per month for a single apartment. This highlights the strong demand for premium properties in the city.
The Future of New Jackson
Time will tell if New Jackson becomes Manchester’s version of New York City. As the district continues to grow, it’s clear that the city’s ambitions are high, and the demand for both residential and commercial space is strong. Whether you’re an investor, resident, or visitor, New Jackson offers a glimpse into the future of Manchester’s urban landscape.
Conclusion: Manchester’s Bright Future
In summary, Manchester’s rise as a leading city for investment and luxury living shows no signs of slowing down. With its growing population, strong job market, and innovative new developments, the city has positioned itself as a powerhouse in the UK. The skyscrapers of New Jackson reflect the city’s ambitions, offering a taste of the high life in the heart of Manchester. As the area continues to develop, Manchester’s future looks brighter than ever.
