Salford Quays has been cited as a model for future growth in cities across the UK, in a new briefing document published by the Confederation of British Industry (CBI).
The home of MediaCityUK was identified as a model for future growth because of the vast amount of regeneration in the area, which according to the document, has unlocked the city’s business potential.
The report argues that empty shops and low building rates have left city centres lifeless and that a new approach to regeneration focusing on business growth, idealised in the Salford Quays area, could be the injection of energy the city centre needs.
This news on Salford Quays follows a host of positive news stories which have surfaced about the area, since the BBC moved to Salford in 2011. Since then, tourism numbers have grown rapidly with visitor numbers reaching 6.9million last year, adding around £479 million – a £20 million increase on the previous year, to the local economy. This has boosted local tourist attractions such as the Imperial War Museum in Salford Quays who reported a 21% rise in visitors since 2004.
People are not only being enticed to visit in the area; many have decided to live in Salford Quays, creating competition for living spaces and causing property prices to soar on the quayside. This was highlighted in data released by the Land Registry which showed that house prices rose four times quicker in the quays than anywhere else in the country, leading the average home in Salford to be worth £91,508 up 6.8% from a year ago.
BBC Sport, Radio 5 Live, Breakfast and the children’s television channels CBBC and CBeebies are all now based in Salford. ITV also recently completed a move to set up home at MediaCityUK and already broadcast programmes such as Granada Reports from the media hub.
To enquire about available properties in the Salford Quays area or other investment oppurtunities please contact +44 (0)161 772 1370
Article adapted from placenorthwest