The CEO of Grainger Plc, Helen Gordon, is forecasting that the Manchester property boom will continue.
In an interview with the Manchester Evening News Gordon says that Manchester is a prime investment target with strong demand levels even in the face of increasing supply.
Gordon said: “Today (Manchester) is a fantastic, investable city, with great depth of demand and potential for growth. Manchester is right up there with London, and well ahead of the other provincial cities.
“There is clearly a great deal of development, but the demand statistics still support it.”
She cautions, however: “For developers it is all about understanding how to position yourself. We’ve gone into the deep mid-market, where we feel demand will be consistent, and we’ve underwritten our schemes on reasonable expectations about Manchester salaries and what rents people can afford.”
The MEN describes Gordon as ‘among the half-dozen people who set the tone in the property sector.’ She has previously held senior real estate roles at Royal Bank of Scotland, Legal & General Investment Management, Railtrack and John Laing Developments. Her views will support a growing chorus of authoritative voices suggesting that Manchester has yet to see a peak in its development potential.
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