Major planning and development of £1bn Manchester site

Friday, March 12, 2010

Planning and development of site around Manchester stadium worth £1 billlion to local economy

By Ashley Brunskill

Planning and development of a world-class sport and leisure facility could bring thousands of jobs to the north-west of England.

A 200-acre site around the City of Manchester Stadium, it is hoped, will regenerate one of the poorest areas of the city.

According to the Manchester Evening News, the project is said to have the backing of both private investors and billionaire Sheikh Mansoor, owner of Manchester City Football Club which lies at the centre of the development.

As well as developing high-specification facilities for the Premier League club, the site will include space for retail and restaurants, community sports facilities and a luxury hotel.

Simon Bate, chair of New East Manchester, believes that the stadium has already inspired both confidence and new property investment.

He said: "The creation of a destination leisure opportunity in east Manchester has been a core element of our vision for the area and our ability to give real consideration to this now is truly exciting."

The 48,000 capacity stadium which was built for the 2002 Commonwealth Games and hosts concerts, in addition to football, will be increased to accommodate 60,000 spectators.

Source: ask-re The Property People LLP