BBC move to Salford given go Ahead

Following the licence fee settlement, the historic BBC move to Salford has finally been given the go ahead. The BBC will move several major departments including Children’s, Sport, New Media, Five Live and Research and Development, out of London by 2011.

Staff from these departments as well as BBC personnel at the current BBC Manchester building on Oxford Road, will all relocate to MediaCity: UK, a new purpose-built site at Salford Quays close to the Lowry. It will create the biggest broadcasting and media centre outside London, with state-of-the-art facilities at the forefront of future developments.

The aim is to create a ‘media zone’ with independent film-makers and other creative and related businesses being invited to take up space. It is believed the move will create employment opportunities for up to 15,500 people and that MediaCity: UK will deliver £1.5billion to the regional economy.

Property Prices due to rise

The move is excellent news for Salford and the wider region, and as the city’s economy continues to expand as a result of this move, property prices are expected to increase. According to Country Life magazine’s premium property forecast, property prices in the city will rise amid the BBC upheaval.

Rental Market - demand to increase

Currently the rental market in Manchester and Salford is sustained by high numbers of well-paid city workers and domestic and international students living in the city and achieves yields of 5.6% on new property. Demand for rental property in both Salford and Manchester city centre is expected to increase dramatically as a result of the BBC’s relocation, resulting in an increase in buy to let investment opportunities.

dandara, one of the UK’s most visionary developers and builders, are prepared for an influx of enquiries regarding buy to let investment, and have already noticed an increase in contact since the announcement was made by the BBC.

Spectrum, dandara’s innovative development in the Chapel Street Regeneration Area in Salford is in a perfect location for the BBC staff. Located within easy access to MediaCity:UK and also within walking distance to Manchester city centre, Spectrum incorporates the new ‘concept’ style one and two bedroom show apartments which showcase a new apartment design and layout to maximise usable living space.

Find out more about the Spectrum Apartments

dandara’s managing director Peter Lackey, comments:

“Spectrum is a very unique development in terms of both design and style - the result of which we're very proud of. What makes it so special is the fact there is nothing else like it in Manchester. We have already had a phenomenal amount of interest in Spectrum because it offers high specification, value for money, architectural merit and an exceptional location.

 

“You can literally fall out of Spectrum’s front door and into Exchange Square where Harvey Nichols and Selfridges are just a three minute walk away. Spectrum is also our first scheme to feature the ‘concept’ designed apartments and we are confident it will appeal to buyers because it provides for spacious living, creating an environment which is both engaging and inviting.”

Get in Touch

Contact our investment specialists to find out more about our current opportunities within Manchester:

Mark Mckay or Sara Huck - Investment Sales Manchester
telephone: +44 161 829 3020
email: invest@dandara.com

Further Reading

View the Independent article - BBC move set to spark mini-boom in Manchester house prices

View Salford City Council's Press Release

View the Salford relocation article at BBC website