Yet another new neighbourhood causing a stir in Manchester, Circle Square has provided an exciting boost to the city centre.
Circle Square is a vibrant area that forms part of Manchester’s Oxford Road Corridor, which has been hailed as the most important economic area within Greater Manchester.
Generating around £3bn gross value added (GVA) per year and accounting for an estimated 20% of Manchester’s economic output, the Oxford Road Corridor is a major target for big businesses, new developments, and investment.
Within this zone, the multi-million Circle Square has been a crucial part of the corridor’s ongoing regeneration. Spanning around 2.4 million square feet, it offers a mix of commercial, residential and leisure space, and has quickly become one of the most investable neighbourhoods in the city.
Benefitting from a brand-new city park – Symphony Park – along with a wide range of shops, bars, restaurants and amenities, its position just minutes from Oxford Road and Piccadilly train stations makes it an enticing option for property investors who can capitalise on the strong demand from the city’s growing number of tenants.
Who’s moved into Circle Square so far?
Food retailers and restaurants have identified the opportunity in this part of town, with some major names moving in to take advantage of the rising footfall and making it a popular destination for dining.
These include the likes of Hello Oriental, described as a “three-story Asian food emporium”; Onda Pasta Bar offering a laid back atmosphere and top-rated food; North Taproom bringing craft beer in a sociable space; and Half Dozen other, a new bakery and pastry kitchen.
Some other major businesses have also recently decided to call Circle Square home. Earlier this month, the Information Commissioner’s Office (ICO) announced it would move its headquarters to a 20,000 sq ft office space there, within Bruntwood SciTech’s No.3 Circle Square.
This will allow it to capitalise on Manchester’s thriving and highly skilled talent pool, including the large number of graduates that stay on in the city.
Global sportswear brand Puma is also relocating to the same building, along with digital automotive marketplace Auto Trader, which will take seven floors.
Commenting on Puma’s move to Circle Square, Lucynda Davies, UK and Ireland managing director, said: “The move to Circle Square and state-of-the-art facilities on offer forms a key part of our strategy for providing PUMA’s employees with a first class working environment with top facilities and amenities. All whilst being at the centre of a community which offers leading technology, fashion, AI and innovation.”
Avalere Health, Roku, BlueSkeye AI, and HP Enterprise are all already located in the neighbourhood, along with multiple startups and scale-up businesses.
Investing in Manchester
The city of Manchester continues to grow in importance as a place to set up business and invest, with a continued wider political focus on promoting opportunities away from London in the North of England.
The growth and ambition of the Circle Square development, which also includes the creation of 650 new homes, have led to it being labelled the “most intriguing” new neighbourhood by the council.
Hundreds of residents have already moved in, and with ongoing regeneration and a boost in job opportunities, property prices in this part of town are set to accelerate along with the rise in demand from buyers.
For investors, Manchester has long since overtaken London as a key property investment target, with stronger capital appreciation in the city than in most of the rest of the UK, along with some of the most attractive and reliable rental returns for landlords.
The city recently registered the biggest rise in limited company landlords alongside Liverpool, demonstrating the long-term growth of investor appetite in the Manchester.
If you’re looking to invest in property in Manchester, get in touch with BuyAssociation today to find out about our current and upcoming projects. You can also browse a selection of our investment opportunities here.
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