8 Business DECEMBER 2018
round table
M
anchester is in a
constant state of
regeneration and
transformation.
With an
unprecedented
number of
cranes in the skyline and a whole host
of new developments underway, are
these multi-million pound schemes
meeting the needs of the next
generation?
Rising house prices and high rental
costs, along with wages that fail to
make up the difference, it has become
more difficult than ever for young
people to get on the property ladder.
In this increasingly challenging
climate, what are the considerations for
young people when thinking about
buying a house and how can
developers ensure that they stay
relevant?
These were the questions that kicked
off a lively roundtable discussion at
Crusader Mill, lead by Tim Heatley,
co-founder of property developers
Capital&Centric (C&C).
C&C are in the process of developing
Crusader, the derelict Grade II-listed
cotton mill into unique one and two
bedroom apartments which will only
be sold to owner occupiers and NOT
investors.
The developers hope that this will
serve to create a proper community,
which they’re also fostering through
communal areas and get-togethers for
the people who have bought
apartments.
The development is situated in thearea which is coming to be known as
East Village - the other side of the
Northern Quarter, behind Manchester
Piccadilly station.
C&C are also behind new
development Kampus, which is taking
over the old Manchester Metropolitan
University site on Aytoun Street. The
communal garden will be the real focus
of the development – with lots of lush
greenery and outside space.
The roundtable discussion - which
was attended by a mix of students,
apprentices and young
professionals, began with
questions about what is
important for young
people when
choosing a place to
live and what
barriers young
people are facing
in the rental and
housing markets.
Many of the
attendees agreed
that price was key,
but it wasn’t the only
factor.
Helen Lloyd, 29, who
has just bought a property in
Crusader Mill, said a mixture of
location, affordability and character,
was important.
“It’s a mixture of things really,
obviously of course price comes into it,
but it’s not necessarily just an
investment, it is your home.
“So having this character available to
you rather than it just being four plain
walls was appealing.”Many of the group agreed that a
sense of community was one of the
most important factors for them in
choosing where to live.
Chris Moss, 22, a planning masters
student from the University of
Manchester, said: “I think a sense of
identity, a sense of community, but
also sustainability is a really big part of
what makes something important to
m e .”
Tom Simpson, a 23-year old business
student at the University of
Manchester, said: “For me, it’s
important who I’m living with.
I wouldn’t necessarily
move somewhere just
because it’s close to
where I want to work
or because it’s a
good price. If it
didn’t have a
community feel
then I wouldn’t
live there at all.”
He continued:
“Community is
important wherever
you are, whatever
you’re doing and I think
property and living
arrangements shouldn’t be any
different. Without that being a
thoughtful aspect of it, you can actually
lose the really important part of what
makes a society a society and the
cohesion you get between people.
“I think it’s important to have more
of a collective approach.”
Helen agreed: “There’s got to be a
community consideration there withregards to the people that are around
you. Even if you come home and you
want to relax after a day at work, you’ve
also got like-minded people around
you.
“If certain investors in the area were
letting properties out to students... if
you’ve got younger ones and they’re
always partying and they’re disruptive,
you’re not going to have your chill time
when you come back from work.
“It’s a case of building a community
of, obviously diverse individuals, but
again there’s also an element of
like-minded individuals.”
When asked how important owning a
property was, the group seemed keen
to own a house one day. However,
there was an uncertainty among some
as to how viable that option might be in
the current climate.
Will Ryan, a 22-year old chemical
engineering student at the University of
Manchester, said: “I wouldn’t want to
be renting, and giving whatever
percentage of my paycheck to someone
else, when I could be investing it into a
life, an asset.”
Chris Moss said: “Unless you’re very
fortunate, the sad fact is if you’re a
university graduate, you’re likely to be
riddled with debt, and your main focus
is to look for a job and work your way
up the paychecks.
“It could be a long time before you
can even begin to start thinking about
saving some money.
“It’s something that comes with age, I
suppose these days, maybe rather than
just having that option just off the bat.”
Some of the group agreed that theWhat kind
of homes
do we need
in the city?
Students, young professionals and
apprentices had a lively discussion on what
young people want from new developments
in Manchester, writes Maya Black
Price comes into it. But
then it’s not necessarily
just an investment, it is
your homeHelen Lloyd