Commercial property to be built in Manchester

Commercial property investment opportunities could be set to emerge in Manchester after a major new project for the Old Trafford area as given the green light.

Planning permission has been given to CB Richard Ellis (CBRE) on behalf of Worldtitle for the creation of the development, which will include the construction of 20,000 square feet of office space.

According to Crain's Manchester Business, nearly 200 homes and 11,000 square feet of retail space will also be created.

Colin Parry, associate director of CBRE's north-west planning team, said the permission was "hard-won".

"The scheme offers many advantages to the area including affordable homes, commercial floorspace offering employment opportunities, enhanced public realm spaces and improvements to public transport in the area," he added.

It was recently revealed that Targetfollow has been given the go-ahead for a new development in London.

The 60-70 St Mary Axe project will be based close to the well-known Gherkin building in the capital.