23 Mar 2023

Manchester Ancoats Regeneration

Category: Manchester

Known for boutique eateries, eclectic bars, and its thriving creative sector, Ancoats is usually described as one of the coolest areas of Manchester. This is the result of a 30-year project to turn the former industrial wasteland into one of the most appealing locations for new businesses, tourists, and residents.

However, now Ancoats is looking to build upon this infrastructure with a new regeneration project. This article will explore the project and dive into what this means for property in the area.

Author: Sam Whalley

Digital Marketing Executive

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What is Ancoats?

Ancoats is a district of Manchester known as one of the UK’s leading creative hubs. In the past 30 years, the area in and around ancoats has undergone huge regeneration, becoming a leading area in Manchester for young professionals and local businesses. Now Ancoats is undergoing further regeneration to create higher-quality homes, better public spaces, and strong connectivity.

For investors, this makes Ancoats one of the most exciting areas in Manchester to invest in right now. Average property prices in Ancoats are around £266,982, a huge annual increase from £259,584. This is a result of the swift and effective developments in the area. A huge focus of the previous project has been building local infrastructure, with businesses, amenities, and residents.

Mobility Hub

Ancoats Mobility Hub is a £37 million project designed to improve connectivity in Manchester. The project has been dubbed the ‘first UK mobility hub’ and will look to accommodate a variety of sustainable vehicles. Additionally, the project will add different units for cafes, commercial spaces and over 1300 sqm of greenery. This is a move towards Manchester’s target of net zero carbon emissions by 2038.

The scheme is aiming to take cars off of the road and prioritise the usage of sustainable transport in the city such as bikes and electric vehicles. Furthermore, the space is a way for Ancoats to build an infrastructure for expansion, with the area becoming increasingly popular. This will provide the groundwork for other regeneration projects, focusing on housing, quality of life and top-class amenities.

The hub will include:

150 bike storage spaces
102 electric vehicle charging ports
30 spaces for car share schemes
408 parking spaces for residents and visitors.
A new café
A parcel delivery hub
New commercial units
400 rooftop solar panels
New green spaces

Ancoats Green

After gaining £32.7 million of funding for the project, Ancoats will be introducing Ancoats Green. Manchester city council has dubbed this the new ‘Green Heart’ of Ancoats Manchester, improving connectivity and acting as a central hub to the area. This includes improved cycling and walking routes, as well as a huge increase in greenery.

Improvements to greenery include;

600m2 of new planting
4800m2 of wildflowers
784m2 of wetland planting
76% net increase of trees

The investment has been described as highly sustainable with 32% of new surfaces made from reclaimed materials, which will create a sustainable drainage system. Furthermore, the project aims to celebrate Ancoats’ heritage of glass bottle manufacturing by incorporating references to this in the design of the park. For young residents and families, the area will include a new public play area.

Residential

Ancoats will be introducing three new developments between Ancoats Green and Rochdale River. This includes over 350 new apartments, 23 townhouses, and 11,800 sqft of commercial spaces. Additionally, the residential developments will attract new amenities including gyms, cafes, and shops to the area. This is spread across three different development sites and will draw inspiration from local architecture to celebrate the heritage of the area.

As the developments are in close proximity, Manchester City Council is planning to create new communal areas and event spaces. The aim of the developments is to create a friendly community feeling in Ancoats, where collaboration is encouraged. This will be achieved through the use of public spaces and events in the area. For investors, local infrastructure is a great way to improve retention in the area, meaning tenants are willing to stay in the area for longer.