Economic growth – Salford in numbers and growing fast

Salford’s economy continues to grow, creating new opportunities for local people. 

  • 20,344 new homes have been built in Salford in the past decade, including 3,201 classed as affordable homes.
  • Salford has the highest productivity in Greater Manchester (GM), and is the only local authority in the region without a productivity gap with England.
  • Home to 11,000 businesses, Salford has the fourth largest business base in GM. This is a rapid increase of 85% since 2010, supporting around 159,000 jobs. 

This growth is also expected to continue, with employment expected to grow by a further 25,000 jobs by 2040.

Growing the city in numbers (2019 to 2024) 

Financial years Number of new Homes New Commercial floor space (sq. ft.) Private sector Investment Public sector Investment Number of new jobs Inward investment
2019-20 3,976 16,145 £586m £11m 1,603 15
2020-21 3,188 660,839 £498m £99m Figures not available during Covid Figures not available during Covid
2021-22 2,865 398 £501m £37.5m 2,110 14
2022-23 2,324 17,911 £356m £48.9m 935 12
2023-24 2,651 463,978 £398m £40.08m 1,594 14
Total 15,004 1.16m £2.34bn £236.48m 6,781 (without 2020-2021) 55 (without 2020-2021)

An enterprising, innovative and commercially minded council

The council has invested across a number of commercial sites. These include One New Bailey. 101 Embankment, 2 New Bailey Square and 100 Embankment. This has helped accelerate the pace of development to grow the office market in the city and support the growth of Salford’s business economy, creating long term employment opportunities.

Salford’s growth is very much unfinished business

The growth the city has seen in a relatively short space of time has been phenomenal and this hasn’t been out of coincidence. We are now starting to reap the benefits through the matured public-private sector partnerships the city has formed to date.

Our strong leadership and partnership working, along with a track record of delivery, means Salford is recognised as a place of opportunity and an engine for growth.

From this, the city has a bold new vision to deliver 40,000 new homes and 40,000 new jobs by 2040 within our four strategic growth locations (Salford City Centre, The Quays and MediaCity, Greater Manchester Western Gateway and Salford’s towns)

New development is bringing in jobs, business opportunities and homes to the city.

Find out more

Salford Central

Buzzing commercial district at New Bailey

  • Offices at One New Bailey (125,000 sq. ft completed in 2016) and Two New Bailey (188,500 sq. ft. completed in 2020) let to companies including law firms Freshfields Bruckhaus Deringer, BLM, and Eversheds Sutherland.
  • Offices at Three New Bailey completed in 2021 (157,000 sq. ft.) to create a regional centre for Her Majesty’s Customs and Revenue (HMRC). Around 2,400 civil servants have moved to their new home.
  • Four New Bailey (providing 175,000 sq. ft. of Grade A office space) is now complete and is pre-let on a 20-year lease to British telecommunications giant BT. They will move into the space in the next year.
  • Eden (115,000 sq. ft.) is now complete, providing Grade A office space and Europe’s biggest green wall Façade, designed and built in accordance with Passivhaus principles. Space in the building has now been let to companies including TLT and BDO.

Homes built across tenures in genuine communities

  • North West’s first institutionally funded build-to-rent scheme at The Slate Yard completed in 2018. With further phases now complete, the number of new homes delivered at Slate Yard totals 425.
  • Chapel Street transformed from area of low investment into an exciting new neighbourhood for Salford with the completion of Vimto Gardens, award winning Timekeeper’s Square and Carpino Place, The Filaments and Atelier. Greenhaus was also completed in 2024, providing 96 sustainable and affordable apartments built to Passivhaus standards for Salix Homes.
  • In 2022, Novella was completed with an additional 211 homes delivered adjacent to the Slate Yard. The second phase, known as Plot C2, comprising 196 apartments, is the latest residential development in Salford Central that is currently on-site.

Improved leisure offer attracting independent restaurants

  • Including Porta, Vero Moderno, Foodwell and Menagerie

Engine of growth and renewal for Salford – attracting other developers and investors to the city

  • When complete, the £650m scheme will create around 11,000 new jobs, 2 million sq. ft. of offices, 849 new homes, 261,000 sq. ft. retail and leisure space, 390 hotel rooms and new links to Manchester City Centre.

Greengate

A new prominent location for business, bringing high quality office accommodation at Embankment

  • 101 Embankment, completed in 2017 and home to Swinton Insurance, of which 9% of the workforce are Salford residents.
  • 100 Embankment completed in 2020 (167,000 sq. ft. office building) and was forward funded by the council following the success of 101 Embankment. With leases to companies including AECOM, Deloitte and X+Why, 100 Embankment was named ‘Manchester and Salford’s Best Performing Office’ for 2022.

Completion of high density schemes across Greengate with a significant no. of residential units expected to be delivered in the next ten years

  • Recent residential developments such as Cortland at Colliers Yard, One Greengate, Anaconda and Local Blackfriars has added to existing developments including Spectrum and Abito. Development continues with Bankside, The Residence and One Heritage currently on site.  
  • As part of the new urban neighbourhood Colliers Yard at Greengate, Greengate Park has been completed, with over half an acre of high quality public realm now open for the public to enjoy.
  • Significant importance to the delivery of this neighbourhood is the continued delivery of public realm which will include a second phase to Greengate park and connecting spaces and creation of Greengate Boulevard to a revitalised Collier Street Baths.
  • The Arch Company has submitted £3 million proposals to convert ten derelict railway arches on Norton Street into food, drink, retail, and leisure spaces. 

Middlewood Locks

A new neighbourhood combining city living, green space, community spirit and a range of commercial opportunities

  • Phases 1 and 2 of the scheme, featuring 1,117 homes have completed and are sold out. These phases include ground-level parking and landscape gardens providing connectivity with public realm and park space surrounding the canal, which forms the central feature to the development.
  • Work to deliver Phase 3 (189 apartments and townhouses), known as the Railings, is underway.
  • Outline consent given for the remaining phases of the Middlewood Locks scheme. Plans include up to 1m sq. ft. of office space, a multistorey car park, 1,000 homes and 260,000 sq. ft of commercial space – including a hotel.

Supporting local independents

  • Salford Brewers Seven Bro7hers opened their second craft beer bar on the site in November 2019.

Social value created by BCEGI’s Community and CSR activities on Phases 1-3 of Middlewood Locks

  • BCEGI attended 100 educational and community events in the city for Phases 1 and 2, attracting over 3,090 participants, ranging from teaching single mums DIY to working with students at Lark Hill, Buile Hill and All Hallows Schools providing advice on interview techniques, CV writing and general employability advice.
  • As of August 2023, BCEGI have attended 18 educational and community events for Phase 3, attracting 960 participants. Events included World of Work Days, Career Fairs and the 2023 Salford Dragon Boat Festival.

University and Crescent Masterplan

  • Crescent represents one of the largest mixed-use development opportunities in the country and is the next major key development in the continuation of regeneration taking place across the city of Salford.
  • In March 2020, the city council and University of Salford jointly appointed English Cities Fund as a developer partner to deliver the ambitious masterplan over the next ten to 15 years. This will enable the delivery of a truly distinct opportunity to create and connect a modern residential neighbourhood with a quality mixed-tenure, diverse housing offer and a unique innovation district aligned to future business growth sectors.
  • New University of Salford buildings including Energy House 2.0 (£16m research facility) and The School of Science, Engineering and the Environment (£65m facility) were completed in 2022.
  • Proposals submitted for Crescent Innovation North, including plans for 933 new homes, 1.4m sq. ft. of new commercial innovation floorspace, 71,000 sq. ft. of learning facilities, a 'movement hub' and 25,000 sq. ft. of space earmarked for leisure facilities.
  • £13 million from the Levelling Up Fund secured to deliver ‘Salford Rise’, a pedestrian and cycle way over Frederick Road improving connectivity across the wider Salford Crescent area.

The Quays and MediaCityUK

An international hub for technology, innovation and creativity

  • MediaCity – Set to double in size in the next decade (£1bn expansion), with proposals to bring over 3,200 new homes, 800,000 sq. ft. of commercial floorspace as well as unparalleled access to employment, retail, leisure and recreation.
  • Driving forward GM’s Industrial Strategy as one of GM’s main economic drivers generating £1.4 billion gross GVA per year.

A major boost to the northern powerhouse tech economy

  • Vodafone opened their Digital Innovation Hub at MediaCity in June 2019 providing the UK’s growing start-up community with a head start in developing new 5G applications and services. With more than 100 start-up companies in MediaCity alone, the Vodafone Digital Innovation Hub provides entrepreneurs with access to network experts, the latest technologies, including 5G, IoT and high-speed fibre and a space to work together and exchange ideas.
  • The city has an abundance of strong tech talent and further down the road, TalkTalk relocated its HQ from London to the Soapworks alongside Global IT Consultancy CGI Group, setting up an office in the North (March 2018).
  • In 2020, The Landing in MediaCity was rebranded as HOST (Home of Skills and Technology) with a focus on building a world-leading reputation in data science, AI, gaming and immersive technologies. Over the last four years, Salford City Council has helped fund a series of Innovate to Scale programmes, including Gametech 365 @ HOST, the award-winning FreelanceHER, and The Modern Workplace.

A commercial hub driving the economy

  • 2,000 BUPA employees moved into their new and highly sustainable 145,000 sq. ft. headquarters in The Regent (September 2018).
  • BUPA’s relocation to The Regent paved the way for The Victoria’s transformational £5 million refurbishment. The Vic completed in summer 2019 and in 2023, breakdown giant RAC relocated 300 employees to this building.
  • Anchorage One underwent a comprehensive refurbishment in 2022. In 2023, three new tenants have signed leases, including Versori (infrastructure technology company), Vision for Education (recruitment agency), and Hanwha Techwin Europe (security product specialists).
  • In 2023, the Department for Levelling Up, Housing and Communities occupied 25,000 sq. ft. of office space in Soapworks, Ordsall, bringing 250 jobs to the city.

MediaCity has attracted and welcomed thousands of extra visitors over the summer and is evolving as a destination from seminars on cutting edge technology to family friendly events

  • Central Bay, the new waterside food and drink destination was opened in 2023 and is home to Kargo MKT, a massive food hall bringing 20 different independent kitchens under one roof.
  • The Salford By The Sea Heritage Trail was created in 2023 and provides stories, images and fascinating facts about the Salford Quays area on your phone.
  • Lightwaves Salford takes place across Salford Quays and MediaCity. Lightwaves is a free festival that showcases a trail of dramatic light art installations that animate and transform the waterside environment.
  • We Invented the Weekend, the bold and imaginative free festival held in Salford, had 60,000 visitors and delivered a total impact of more than £3.2 million for the local economy in its inaugural year (2023). In 2024, the recorded number of visitors increased to 90,000, delivering a total impact of £3.6 million for the local economy. 

A growing residential community

  • Recent residential developments to complete include The Lightbox, X1 MediaCity (three of four towers), Anchorage Gateway and Clippers Quay on the former cinema site.

Greater Manchester Western Gateway

Further west, Peel Holdings is bringing forward Port Salford, an inland port and industrial and logistics hub that will deliver more than 5 million sq. ft. of space

  • Food and drink logistic specialists Culina were the first to occupy the new warehousing space in Port Salford (the UK’s first inland tri-modal logistics facility) in 2016.
  • Followed by Rhenus in 2017 opening its new HQ and warehouse, strengthening its freight and contract logistics services in the North West and enhancing their network to include Mediterranean and North African destinations as part of its road, air and ocean coverage.

Improving the road infrastructure in and around Port Salford and AJ Bell Stadium

  • Completion and opening of the A57 Bridge in 2017.

Delivering an attraction of national significance - RHS Bridgewater Garden

  • The Royal Horticultural Society (RHS) transformed the former grounds of Worsley New Hall into a new 154-acre garden, which opened in 2021. Salford City Council invested £19 million into the project which will bring substantial economic and tourism benefits to the city, its communities and the North West region.

A Garden for all

  • In its first year, RHS Garden Bridgewater welcomed over 482,000 visitors with 18,160 free tickets issued to Salford residents. It also created 162 jobs, from tree surgeons to therapists, as well as apprenticeships and learning opportunities. Its community outreach projects engaged with 539 young people and 425 local people. Over 7,300 young people enjoyed free educational visits from 155 schools from all ten Greater Manchester areas.
  • Construction of a 6.2km upgraded walking and cycling link connection from Boothstown, Walkden Station and Worsley to the RHS was completed in 2022. Work is continuing on ways to improve walking and cycling links to the garden as well as other local facilities.

New and improved infrastructure

  • A City Centre Salford ‘active centres, corridors and neighbourhoods’ Mayors Challenge Fund bid was approved in 2019.  The £28m programme brings together a series of improvements across the City Centre to ensure that neighbourhoods across the city are connected from Greengate through New Bailey and Middlewood Locks and towards the Crescent.
  • Renovation of Salford Central station in summer 2023, upgrading platform heights, roof canopies, railway track and its signalling system. This ensured that ramps can be used to board all services for the first time, making the station accessible for disabled people, those with heavy luggage and parents or carers with pushchairs.
  • Prince's Bridge officially reopened in 2023 as a pedestrian and cycle connection over the Irwell from Salford to the new Aviva Studios in Manchester.
  • A new ‘Park and Ride’ facility at Walkden Railway Station was opened in 2023, providing 107 car parking spaces, electric vehicle charging points, motorcycle bays and cycle storage.
  • Trafford Road improvements to pedestrian and cycling links completed in 2023, enhancing facilities for pedestrians and cyclists between Ordsall and the Quays and MediaCity.
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