Manchester is already on the upswing as far as development is concerned. Industrial and commercial growth have fuelled fast growth of the residential real estate sector in Manchester over the last few years. In the latest development, four new hotels will soon be opened at the Manchester Airport which will lead to the creation of 500 new jobs courtesy assistance from a Russian investor. This will also boost ancillary sectors and create more employment, thereby harbouring future hope for Manchester’s real estate sector.
The new hotel district worth 180 million pounds will contribute considerably towards job creation and employment growth in the future while boosting the housing sector in areas near the Manchester Airport. This district is a part of Airport City and will soon have a Holiday Inn, two Hilton hotels and Ibis Budget. These hotels will start running by 2021 as per expectations with 500 jobs created and 1200 new beds. This will boost the tourism and business sectors in the city as well.
AZ Real Estate Property Consultancy was the key agency behind the investment of 4 million pounds for building the Hilton Hotels on behalf of a Russian businessman. Hotels are seen as long-term assets which promise reliable growth overall. The area has a high footfall overall and the airport master plan worth 1 billion pounds should be a major growth driver for years to come. Areas like Manchester, Leeds and Birmingham are swiftly becoming some of the biggest investment hubs in the UK both in terms of residential and commercial real estate. Two budget hotels were already planned for a site located to the east of Terminal 2. The Manchester City Council gave approval for two hotels of 7 storeys each at the junction of World Way and Palma Avenue.
Two more hotels will now come up just behind the airport transport interchange zone beside the M56. The Hilton Garden Inn will have 375 beds in two wings with a garden lounge, sky bar and fitness centre. There will also be a Hampton by Hilton Hotel with 254 beds and direct connectivity to the airport terminal and the train station through a walkway which will be covered. Guests will start arriving at these hotels from the year 2020 onwards. Airport City Manchester continues to be a major draw for investors and the influx of several commercial entities and other conglomerates into the city should spell good news for employment and the housing market alike in the next few years.