Economic growth – Salford in numbers and growing fast
Over the next two decades Salford is forecast to experience the fastest percentage growth in Greater Manchester. The local economy is expected to grow by over 46% with £3 billion of growth.
And the city’s employment levels are set to increase by 16% in the next 20 years. With our own research showing 40,000 new jobs by 2040. There are now almost 13,000 businesses trading in Salford, the city’s business base has grown by over 5,000 companies since 2010.
Growing the city in numbers (2016 to 2019)
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All this has resulted in £16 million in additional council tax which is being used to protect frontline services for local people.
For every £1 of city council investment, this has levered in £55 of direct public/private sector investment.
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 MediaCityUK, 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 | New Bailey & Chapel Street | Delivered in partnership with ECf
Buzzing commercial district at New Bailey
- Offices at One New Bailey (125,000 sq. ft.) completed (2016) and let to Magic circle law firm Freshfields Bruckhaus Deringer
- And one of Manchester’s oldest global legal practices, Eversheds Sutherland have agreed a pre-let at 10 storey Two New Bailey (188,500 sq. ft.) due to complete mid 2020
- Work started on Three New Bailey this year (157,000 sq. ft.) to create a regional centre for Her Majesty’s Customs and Revenue (HMRC). Around 2,400 civil servants will move to their new home by spring 2021.
Homes built across tenures in genuine communities
- 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, with Atelier currently onsite (117 homes)
- North West’s first institutionally funded build-to-rent scheme at The Slate Yard completed in 2018
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.
A new prominent location for business, bringing high quality office accommodation at Embankment
- 101 Embankment, completed in 2017 and is home to Swinton Insurance of which 9% of the workforce are Salford residents. 100 Embankment onsite (166,000sq ft. office building) forward funded by the council following the success of 101 Embankment scheduled for completion June 2020.
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 One Greengate, Anaconda (tallest apartment in the city) and Local Blackfriars has added to existing developments including Spectrum and Abito.
- Significant importance to the delivery of this neighborhood is the continued delivery of public realm which will include a new Greengate park and connecting spaces and creation of Greengate Boulevard to a revitalised Collier Street Baths.
Middlewood Locks | led by the Scarborough Group with BCEGI construction leading the build
A new neighbourhood combining city living, green space, community spirit and a range of commercial opportunities
- Phase 1 completed (570 apartments) and is nearly fully occupied
- Phase 2 is currently under way comprising of four buildings up to 10 storeys high, with 546 apartments and will also 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.
Supporting local independents
- Salford Brewers Seven Bro7hers are opening their second craft beer bar on the site in November 2019.
Social value created by BCEGI’s Community and CSR activities on Phase 1 of Middlewood Locks
- BCEGI attended 66 educational and community events in the city attracting over 1300 participants ranging from teaching single mums DIY to working with students at Lark Hill, Buile Hill and All Hallows Schools providing advice and assistance on interview techniques, CV writing and general employability advice. Full details available in the below PDF
University and Crescent Masterplan
The biggest development opportunity in Greater Manchester
- Capitalising on the expansion of City Centre Salford connecting The Crescent and University, the Council and the University of Salford agreed a key milestone in their ambition to develop a world class new city district. A Memorandum of Understanding was signed paving the way for the selection of a private sector partner to deliver the ambitious masterplan.
- The City Mayor launched the vision at MIPIM 2018 detailing the huge scale of opportunity right across the 200-acre site.
- The procurement process is well underway and the Council and University hope to appoint a partner or partners by the end of the year to enable us to deliver 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.
The Quays and MediaCityUK
An international hub for technology, innovation and creativity
- MediaCityUK – Set to double in size in the next decade (£1bn expansion)
- 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 The Landing 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 MediaCityUK 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.
- Furthermore next-generation technology alongside 5G will have a massive impact on the city over the next decade and the arrival of HuaweiUK (9.10.19) who are a key player further cements Salford as the emerging tech hotspot in the UK.
- 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).
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 (Sept 2018).
- BUPA’s relocation to The Regent paved the way for The Victoria’s transformational £5 million refurbishment. The Vic completed in summer 2019.
- Kellogg’s moved over 600 people into Orange Tower early 2018 and in August 2018, The Hut Group, one of the world’s largest online beauty and wellbeing companies, relocated its technical development function to the 10th floor of Orange Tower.
- Tomorrow, which was launched in September 2016, is now 80% occupied, attracting international operators including commercial fit-out specialists ISG, as well as home grown businesses such as Zeal Creative who have become the first tenant to expand within Tomorrow.
MediaCityUK 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
- In growing the offer planning consent has been granted for “The Watergardens” a new waterside dining concept that will see the transformation of the southern waterfront into a vibrant leisure destination. The Watergardens will be a unique setting for a diverse range of restaurants and will also see the delivery of a new waterfront promenade connecting the iconic Millennium Bridge to The Lowry Outlet.
A growing residential community
- Recent residential developments to complete include PRS development The Lightbox, X1 MediaCityUK (2 of 4 towers) 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 5m sq. ft. of space
- Culina Group opened for business as anchor occupier at Port Salford the UK’s first Tri-modal logistics facility in 2016
- Followed by Rhenus in 2017 opening its new HQ’s 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
Delivering an attraction of national significance - RHS Bridgewater Garden
- Completed the construction of a new access junction to the RHS Bridgewater Garden site which is now in use by contractors working on site to deliver the garden ready for opening in 2020.
A Garden for all
- As well as providing a spectacular garden, the RHS working alongside the Council is committed to delivering benefits on many different levels.
- Currently 22 green space projects are being delivered through the RHS Garden Bridgewater Community Outreach team:
- 15 community green space projects have been funded through GrowWell, a collaboration between the RHS Garden Bridgewater, Salford CVS and Salford Clinical Commissioning Group.
- 7 community gardens supported through the RHS Greening Great Britain initiative including Friends of Chimney Pot Park, Longworth and Seedley in Bloom, Worsley Woods Action Group and Peel Patches in Little Hulton
New and improved infrastructure
- Completion of Ordsall Chord
- Worked with partner organisations to secure improvements to Salford Central Station
- Worked jointly with Manchester City Council, to improve capacity on the Manchester Salford Inner Relief Route and Regent Road. Salford’s section of works now complete.
- Funding secured for another bridge in joining New Bailey and St John’s development
- £60m secured in Mayor’s Cycling and Walking Challenge Fund for arrange of new cycling and walking schemes across the city
- GD2 funding for Walkden Park and ride (110 space car park)
- New Bailey Gateway phase 1 completed
- Advantage bus scheme completed
- Salford’s traffic free routes - Improvements to a number of looplines have been carried out and winner of the Institution of Civil Engineers NW Community Award 2019 for Salford’s Traffic free routes. Also Won the Proposal of the Year award at the Healthy Streets Awards for Chapel Street East Phase 1.