Manchester is to become Britain’s first Airport City thanks to significant investment from China.
The £800 million joint venture includes investment from Beijing Construction Engineering Group (BCEG), Carillion PLC and the Greater Manchester Pension Fund. It will create 16,000 new jobs and take 15 years to complete.
The development will provide over 5 million square feet of business space, including warehousing, manufacturing, hotels, retail, offices and leisure outlets across a 160 acre regeneration site.
The first area to be developed will be adjacent to the airport railway station, just north of the M56. This will mainly consist of hotel, office, and manufacturing. The second site will be situated near the existing cargo centre near junction 6 of the M56.
It will see Manchester compete alongside other European “Airport Cities” such as Barcelona, Frankfurt and Amsterdam.
The news comes as the Chancellor announced changes to the visa system to make it easier for Chinese tourists to visit the UK.
Manchester Airports Group (MAG) hope that this development takes it one step closer to its ambition of offering direct flights to China.