The rise of Manchester’s towers: What effect has it had on the city?

September 18, 2025

Manchester’s high-rise towers are the most visible sign of the city’s transformation. In 1990, just 500 people called the city centre home, and Manchester resembled a ghost town in the evenings and weekends.

Now? The City Council estimates that as many as 100,000 people will live in the city centre by the end of this year. What could the city look like in another 10 years’ time? Mike Ingall, Chair of Allied London, has predicted that Manchester city centre could be home to 250,000 people by the end of 2035.

Bev Craig, Leader of Manchester City Council, said: “If you look at the city's resurgence, and the trajectory that we've been on from the late-80s or early-to-mid-90s, the rising economy that we've seen, I think the conditions are right for [a Golden Age].”

Leading the way are Manchester’s new breed of residential towers.

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Manchester is rising high

From any point in the city – and from a long way away – you can’t help but see Manchester’s new age skyscrapers. They dominate the skyline and loudly proclaim Manchester’s 21^st-century renaissance.

But why have they become the dominant new building type in Manchester city centre? There are many factors, but perhaps the most important is that Manchester city centre has a relatively small footprint when compared to other competitor cities. Go to Leeds, Birmingham or London and you will find a much larger city centre.

That means land in Manchester comes at a premium. If the city is to keep up its incredible pace of growth, every square foot of potential has to be maximised. That means Manchester is building upwards following a similar logic to the great American skyscraper cities of the 20^th century.

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Are Manchester’s towers powering economic growth in the city?

The most obvious effect of Manchester’s towers is that the city centre is now home to approximately 100,000 people, many of whom are resident in the city’s high-rise buildings. That fact has changed Manchester beyond recognition. It’s now a residential city in a way it hasn’t been since the Industrial Revolution.

This has had a major effect on the local economy in a few ways, including:

A larger population has allowed a significant hospitality, retail and leisure economy to grow in the city centre. Previously, there would not have been enough residents to support this.
The towers have drawn in a new generation of young professionals who work in well-paid, high-level jobs and make the city more attractive for national and global businesses.
International students have proven to be reliable tenants for the high-rise towers. They are also a group that provides a major boost to Manchester’s economy.

Other factors, including the city’s transport network investments, have also had a major effect on Manchester’s economy. However, it is likely that the growth in high-rise buildings and the city’s economic development are related.

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What does the future hold for Manchester city centre?

Manchester’s economic charge shows no signs of slowing down. The city's productivity has gone up 31% since 2004, according to economist Richard Partington. At the same time, national productivity has all but flatlined, growing at just 1% a year, or even declining in some years.

EY’s latest Regional Economic Forecast shows how this will translate into further economic growth in Manchester. The firm forecasts that the city’s economy will grow at a rate of 2.1% per year for at least the next three years. The national average is just 1.6% per year over the same time period.

Hilary Heap, North Market Leader at EY, said: “Thanks to its prowess as a hub for tech and professional services, Manchester is […] projected to be one of the UK’s leading centres for growth over the next three years. Manchester’s continued success reflects its strategic focus on building skills and capabilities in high-value sectors, and creating an attractive destination for investment."

At the centre of all that is Manchester’s towers. The likes of W Residences, Vista River Gardens, Obsidian and Bankside at Collier’s Yard are all designed to cater for exactly the type of young professionals who want to be part of this economic growth story.

They offer luxury accommodation and a premium lifestyle that is perfectly suited to modern Manchester’s status and ambitions for the future. They are the number one place to live for graduates, professionals and even families who can take advantage of outstanding amenities and the communities being built in the towers.

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Manchester residential towers are the perfect investment

For investors, these towers are a highly desirable Manchester investment property opportunity. Manchester is becoming a city of skyscrapers, and other property types exist in their shadow.

There are nowhere near enough Manchester city centre apartments for sale to meet demand now. With the population growing so fast in the next 10 years, demand will grow with it. That offers the potential for a higher return on investment if you buy property in Manchester’s towers.

Want to learn more about Manchester’s property market? Read our latest Manchester property market insights and then contact the team today to discover our latest investment opportunities.