Manchester is likely destination for broadcaster’s second home
Manchester is the frontrunner to become the home of Channel 4 new offices.
The broadcaster has been forcefully ‘encouraged’ by the Government to relocate out of London for some time.
And it has finally bowed to pressure and announced plans to open a ‘second national HQ’ in another city – while retaining its London offices in Victoria.
And with Manchester’s status as a centre for media and cutting-edge firms the city is already being tipped as the most likely destination.
The success MediaCity and the relocation of the BBC to the North West has put Manchester firmly on the media map.
And the property investment expert InvestorSquare says the media business may have been reluctant to make the move; but the decision is likely to aid Channel 4 in serving the entire country.
InvestorSquare founder Ross Kelly said: “Manchester is one of the hot favourite places to become host to C4’s new HQ, which will see at least 300 of the station’s 800 staff, and their families, relocate to the chosen city.
“Manchester is already experiencing a 7.53% average rental price growth as the city booms in confidence and this influx of talented professionals would further boost the thriving buy-to-let market.”
He added: “C4 is about to invite pitches from places across Britain, and Manchester is a strong contender.
“It has fast become one of the coolest UK cities to live in, with an enviable mix of culture, education and business.
“Of course, the city has always been home to successful media organisations such as Granada: home of ‘Corrie’ and Sherlock Holmes.
“Now, as well as ITV Granada, the BBC has moved in to MediaCity in Salford in a big way.”
Many of the BBC’s most popular TV and radio shows are now based in Manchester, and the city is now where a lot of the nation’s creative talent prefers to live.
Ross Kelly said: “Young professionals are attracted by the business and creative hubs, and of course provide attractive buy-to-let opportunities for investors.
“Channel 4 is going to be extremely tempted by the pool of talent and facilities already available in Media City.
“The breadth of properties available for letting will also doubtless be a strong factor in the city’s favour as the channel seeks to relocate key staff.”
On average Manchester buy-to-let properties give a 6.11% yield, with capital gains 7.58%.