The Northern Powerhouse is an initiative put in place back in 2016. The initiative aims to build the economy in Northern cities such as Manchester and Liverpool, through investing in skills, innovation, transport and culture. Manchester is one of the cities that has seen huge growth under the Northern Powerhouse, with new developments, investments and improvements being made to the city each year. Here are some of the things the Northern Powerhouse has done, and is doing, for Manchester.
Better transport is something every city wants, and the Northern Powerhouse has recognised this. This year marked the beginning of Transport For The North, England’s first ever sub-national transport body. Transport For The North aims to boost economic growth throughout the North of England by transforming cities transport systems. Plans are in place for a new Northern Powerhouse Rail which will connect Liverpool to Manchester airport, along with plans for improved frequency and capacity amongst the North’s rail networks.
Amongst this, plans are in place to improve roads, including a £220 million investment to ease congestion at critical points, and a £100 million investment to make roads more resilient to flooding. Improvements are also set to be made to the M60 North West Quadrant, along with improving connectivity between Manchester and Sheffield.
For investors, students, and professionals, the Northern Powerhouse means better opportunities in Manchester. The focus on science, skills and innovation that the Northern Powerhouse brings means that major developments will attract new talent to the city. Among these developments is the National Graphene Institute, a 7,925 square metre building with state-of-the art equipment and the facilities needed to enable people to research the potential of graphene. Other developments include the
The introduction of more academics and professionals to the city further enhances the Northern Power House’s aims to boost investment within Manchester. Property developments are always being made which focus on luxury, high-end apartments. These types of properties appeal to students and young professionals, therefore a higher population of this target market means higher demand for profitable property. RW Invest are a property investment company who specialise in high quality properties and student accommodation throughout Northern cities such as Manchester and Liverpool, with properties from as low as £45,450 with an 8% net rental return.
Better quality of life
Aside from improving Manchester’s economy in terms of investment, new developments and economic growth, the Northern Powerhouse has a plan to significantly improve quality of life for the city’s residents. A new theatre, the Factory, is set to be introduced to the city in 2019. This theatre has £78 million behind it, and is sure to make a fantastic addition to Manchester’s cultural scene. Manchester museum is another cultural hotspot that’s set to expand, with the introduction of a £5 million South Asia gallery within the museum.
Culture isn’t the only thing that’s changing, as funding has been set in place to help schools across the North of England. £300 million has been invested for government funding that targets disadvantaged areas across the North and ensures that every child is ready for school by the age of 5. There’s set to be a focus on helping disadvantaged children with free school meals, challenging schools with poor performance, and identifying schools throughout Manchester and the North that need rebuilding.