As a specialist property recruiter, we at Foundation Recruitment speak to hundreds of property professionals every single week from all across the UK. We are therefore acutely aware of the struggles many people in the industry have faced over the last few years. The development arena in particular has had a very tough time of it. However, in recent months our conversations with both clients and candidates have become much more positive. Property professionals are more upbeat. Clients are more hopeful of finding the right candidate for a new role and candidates feel much more positive about their job search. Picking up the Estates Gazette or Property Week has suddenly become a worthwhile exercise; things are happening in the UK property market that is worth reading about.
Within the last couple of days, one of the largest ever British-Chinese JV’s was confirmed by Chancellor George Osborne on his 6 day trip to China to promote UK business and encourage Chinese Investors to look at the UK market.
Bejing Construction Engineering Group will work with Manchester Airport Group to deliver Manchester’s £800m Airport City. This huge development will provide over 5m sq ft of business space including manufacturing, warehousing, offices, hotels, retail and leisure outlets across a huge 160 acre regeneration site. With early estimates suggesting that the project will generate anywhere up to 16,000 new jobs, Airport City is set to provide a significant boost to the UK’s economy and the North West region. At Foundation Recruitment we are looking forward to the development of the largest scheme since the Olympic Village getting under way in the same city as our head office in Manchester. With phase 2 of the Co-operatives £800m NOMA project also imminent, Manchester is leading the UK’s property development charge out of the recession.
MAG will also team up with Argent, who have been appointed development manager for the project. Argent is extremely well placed to offer the development expertise required for such a substantial project having worked on the regeneration of 67 acres of brownfield land at London’s King’s Cross as well as One Piccadilly Gardens and Piccadilly Place in Manchester.
Manchester Airport is the UK’s biggest and busiest regional airport, handling over 170,000 tonnes of freight and serving around 19 million passengers every single year. With 65 airlines flying to over 200 destinations worldwide, it is easy to see why Airport City is already generating significant interest from international businesses looking to establish a UK base. This becomes even more apparent when considering that passenger traffic at Manchester Airport is projected to double by 2030. There is already a high level of interest from Chinese airlines about establishing a direct route between Manchester and China and negotiations look set to be finalized soon. All very encouraging and surely a sign that London is no longer regarded as the only international business hub within the UK. Chancellor George Osborne certainly agrees, stating last week that the Airport City project “shows that our economic plan of doing more business with China and also making sure more economic activity in Britain happens outside of the City of London is working.”