Direct flights from Manchester to Beijing start on the 10 June. With four flights each week linking Manchester to Beijing businesses in China and the North of England can now take advantage of the improved connectivity and avoid the inconvenience of changing planes at another airport.
The gateway from Manchester to Beijing opens for the first time with the inaugural direct scheduled service provided by Hainan Airlines. The improved connectivity is set to make the North West an even more attractive region for investors.
The ‘Manchester2Beijing’ service is estimated to be worth at least £250 million in economic benefits to the UK over the next decade. With two-thirds of the economic benefits felt directly in the Northern economy in terms of employment, increased economic activity, trade and collaboration and tourism.
‘Manchester2Beijing’ reinforces what many Chinese investors know already - the North West is a great place to do business.
China’s Ambassador, Liu Xiaoming, said that the launch of the direct flight path will “encourage productive cooperation at the local level. Both China and the UK are open for business.”
Following last year’s state visit by President Xi Jinping, the earlier Chinese investment in Manchester Airport’s Group £800m Airport City development, and the latest foray into English football by Chinese investors snapping up a 13% stake in the parent of Manchester City, everything points to the North West being a great place for Chinese investors to buy property.
The Northern Powerhouse
Manchester offers a wealth of opportunities to both Chinese companies and individuals looking to invest in property. There are numerous development opportunities, including those in the early planning stages, together with off-plan purchases and investment-ready options.
During last year’s state visit, the Prime Minister and President Xi Jinping discussed a large number of cooperation agreements relating to the economy, trade, investment, infrastructure, scientific innovation, manufacturing and sports.
The Northern Powerhouse is ripe with investment opportunities as investors recognise that there are some good schemes in the pipeline, in both the commercial and residential sectors.
Chinese investors recognise that Manchester benefits from a central location and good transport links. This, coupled with cheaper property prices than in the South-East, especially London, means that property prices are sustainable and represent good investment prospects. I am currently busy dealing with instructions from Chinese investors buying both new and existing residential properties either on a single acquisition or portfolio basis.
Slater and Gordon lawyers in Manchester and Chester offices have particular expertise in acquiring sites for residential, commercial and mixed uses and deal with the whole development cycle from site acquisition, funding, infrastructure, development and construction through to its onward sale. There are specialist plot sales and residential conveyancing teams who can assist with individual apartment purchases or multi property-acquisitions.
If you would like legal advice about investing in property please call our expert property team on freephone 0800 223 0709 or contact us online and we will call you.
Yinan Li is a Mandarin speaking lawyer in Slater and Gordon’s Manchester office. She specialises in both commercial and residential property.