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Media City - Switching on the North West economy
Date Posted: 03/09/2010
MediaCity: UK is the largest purpose-built community of its kind in Europe. Spread over 36 acres of land alongside the Manchester Ship Canal, phase 1 is on schedule to be completed in 2011. Located at Salford Quays, Media City will be a vibrant waterside community, designed around the specific needs of the creative and digital industries; the first of its kind in the UK. Managed and developed by Peel Media and recognised as one of the most fundamentally important projects in the region, Media City will generate significant economic, social and creative benefits for Greater Manchester.
Foundation Recruitment recently visited the scheme and we were extremely impressed by both the scale and potential of the site. The BBC will be the main tenant at Media City, with 5 departments moving from the capital, including Radio Five Live and BBC Sport. Approximately 1,500 London based posts will relocate to Media City in 2011. However, the BBC is just one component of a City that could eventually stretch across 200 acres. Media City will operate 24 hours a day and will be home to some of the biggest companies in broadcasting, new media and technology.
The initial 36-acre development will feature 700,000 sq ft of office space, 250,000 sq ft of homes and 60,000 sq ft of retail and leisure facilities. About 15,000 jobs will be created in Salford, generating a projected £1.5bn for the regional economy. The surrounding areas of Media City are also set to reap the benefits with a substantial increase in property investment. Peel Holdings have already revealed plans to develop Salford Forest Park, a 1,690-acre site featuring a 6,000-seater oval racecourse, 18-hole golf course and a leisure park.
A big part of the Media City concept is that people in the media should actually live as well as work there. Phase 1 has two apartment blocks totaling 378 units, The Heart and Number One. As it is anticipated that 5,000 people will relocate to the area by 2011, other parts of Salford are looking increasingly attractive to young professionals. As a result, we are likely to see an increase in the number of shops, cafes and restaurants in the surrounding areas. There is more than £3bn worth of urban regeneration planned for central Salford alone.
The North West is already home to a significant number of digital and creative industries, employing roughly 320,000 staff. The sector presently contributes 16% to the region's economic output, worth around £15.8 billion per year. Indeed, the Northwest's digital and creative sector is outpacing UK trends, with growth rates standing at 10% above the national average. The potential gains for creative companies operating out of Media City are huge. Increasing numbers of media and production companies working across an array of platforms will look to this sector to provide the 'softer' skills needed for selling, branding and marketing their products.
There is no question that Media City will have a positive effect on the North West economy. As the development grows, so will the many organisations that are to be based there. With a huge focus on training the professionals of tomorrow, many careers will be launched at Media City. Recruitment will steadily increase as the market recovers, bringing new opportunities to the Northwest region.
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