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6000 New Homes For Manchester In £1Bn Deal

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Interesting news for Manchester indeed

http://www.manchestereveningnews.co.uk/business/manchester-city-etihad-stadium-adug-7313788

More than 6,000 new homes are to set to be built in once rundown parts of Manchester thanks to a £1bn deal with Manchester City’s Middle East owners

Manchester council today announced the 10-year agreement with the Abu Dhabi United Group, with the two parties forming a partnership dubbed ‘Manchester Life.’

The first phase will see more than 830 privately rented homes built in the Ancoats and New Islington areas of east Manchester, near to City’s Etihad Stadium.

Work is set to start on that stage of the masterplan next year.

Manchester council leader Sir Richard Leese said: “Today’s announcement adds another commercial dimension to the already significant investment made by Manchester council and ADUG in east Manchester, and in doing so progresses the regeneration story which began in the 1990’s and was accelerated by the 2002 Commonwealth Games and ADUG’s recent development of the Etihad Campus.

“The planned transformation of the eastern edge of the City Centre is the single biggest residential investment Manchester has seen for a generation.

Edited by aSecureTenant

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Will these actually be homes, you know, the type a family can live in comfortably at a reasonable price, or will they be cheaply built slave hutch "investor" homes to sell to the Russians or Chinese?

It appears good on paper, but 6,000 in a city where jobs are scarce in areas that , according to some of the locals posting on there, is a "rathole"..I can see trouble ahead.

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The last thing we need.More rentiers.Up here in the north house prices are pretty cheap.You can get decent 3 bed link houses/terraces for £55k.The problem is nobody has full time contracts to buy houses.Instead they have to rent.

I wonder how much of the rent on those 1000 houses will be paid for in Housing benefit.

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Good news for a depressed area.

The massive Citeh squad have to live somewhere after all.

Short Dubai / Long Mancunia

Edited by R K

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Manchester has a rich recent history of ******ing up redevelopment. Who knows how this will turn out.

Whenever I drive past new Broughton village, there's a terribly sad park. Never any kids playing. The same when I lived in Hulme, older kids on BMXes, yes, younger one accompanied by their carers, no. How fares Ancoats?

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Made me wonder whether the Tory 'announcements' and further Arab investment in the north are linked in some way.

If so, good for the entire region to have some money at least fighting for central resources.

EDIT: btw did you know Dubai stocks are down 8% today?

Doesn't everybody?

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Great news, I'll let the divorced couple I know ( who bought 3 off plan executive apartments flats in Manc in 2007 ) know.

Get in before you miss out.

Edited by TheCountOfNowhere

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Great news, I'll let the divorced couple I know ( who bought 3 off plan executive apartments flats in Manc in 2007 ) know.

Get in before you miss out.

Are they down 50%+ on those?.

Do they still have them or have they gone bankrupt and lost the family home as well?.Property only ever goes up innit.

Edited by durhamborn

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Erm, am I right in saying that the average build price of these "aspirational" properties must be 166,667 (1,000,000,000 / 6,000) ... in Manchester? I know the BBC recently relocated up there but even so ... ... ...

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I've not walked through Ancoats 'New Islington' development (a 2007 Casualty) for a year or so but when last did it was a horrible unfinished patchy affair, weeds sprouting up and un-purchased building plots empty on the canal side. We only used to go because it had a NHS drop-in doctors surgery, which was handy when the baby came out in a weird rash at 4pm on a Sunday afternoon etc. etc. but they soon closed that down.

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First phase, 830 privately rented homes. That'll mean professionally managed, and a strong incentive to keep them in decent order and do a good job (830 rents being a stupendous amount to lose if they get a bad reputation).

Could be good for the people, and a problem for some of the landlords there.

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http://www.manchestereveningnews.co.uk/news/greater-manchester-news/new-islington-residents-describe-horror-7586990


Up to 10 teenagers armed with a handgun ran amok for an hour through Ancoats's trendy New Islington area

I think you could describe the area as culturally diverse. Maybe the Arabs are bringing Sharia law with them. It would probably cut crime I suppose.

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Haha Ancoats. Such a wonderful area.

I never cease to be amazed going past this area every once in a while what an absolute farcical dream this is. "New Islington" HAHAHAHAHAHAHA.

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