Reside Newsletter

An encouraging update on the property market and all things Manchester as we head into Spring.

Bee Season

Did you know that the bee has represented Manchester for over 150 years? The idea was born out of the industrial revolution when Manchester first became the hive that it is recognised as being today.

The bee then became a symbol of the hard work that the people of Manchester put in during this era. Today, the bee takes many forms across various places in the city; mosaic tiles at Manchester Town Hall, in replacement of numbers on the Kimpton Hotel clocktower and printed on to city’s bollards and bins. Following the devastating attack at the Manchester Arena, the bee has also come to represent unity, with many murals of bees painted and many proud Mancunains choosing to have the bee tattooed. 

From the middle of April, we should hopefully start to see more of these fuzzy, buzzy creatures around the city. Manchester has made efforts to become a haven for bees: by introducing beehives in various locations within the city centre, including HOME and Printworks. Commercial buildings have also joined this trend, and we are proud that there are beehives at our second Manchester office, Windmill Green. Windmill Green prides itself on being one of the most environmentally friendly and sustainable commercial buildings in Greater Manchester. It states that ‘”being green” is more than just being smart and reducing energy, water and waste’ and stresses the importance of protecting our ecosystem. According to WWF, ‘one out of every three mouthfuls of our food depends on pollinators such as bees’. This is a huge percentage, so it is reassuring to know that cities, businesses and institutions have started to do their bit to protect our stripy friends.

Click the link below to join in the action and see what you can do to protect our bees.

Bee friendly

‘Indie’ Spotlight

Many of us will have felt the pinch, or punch, of the cost of living crisis that the UK has been experiencing over the past year, and so have independent businesses. Recently, Manchester has seen some of its most popular local businesses forced to either change models or close completely.

‘Indies’ are a core part of Manchester’s unique and vibrant culture, and it’s sad to hear of the struggles some have been facing. As a fellow independent business consisting of a team of proud Mancunians, we want to shout about some of our favourite local businesses. 

Located just off the beaten track of Great Ancoats Street lies Off the  Press: a coffee shop that offers delicious homemade sandwiches, salads and cakes, which have all got the seal of approval from Laura, our Head of Property Management (Build to Rent). Laura also commented on the huge amount of natural light and all the gorgeous plants Off The Press is home to. These elements help create a calm environment and make it ‘the ideal spot for work’, and it is actually a hotspot for our Broadside monthly meetings!

Just around the corner from Off the Press is another of Laura’s favourites, Elnecot. Elnecot was established in 2017, making it one of Cutting Room Square’s first independent businesses since Ancoats’ regeneration. This makes its name rather fitting, as ‘Elnecot’ was the first recorded name for the area. It proudly states itself as a ‘neighbourhood’ bar and kitchen, and according to Laura, it’s the laid-back and ‘chilled vibe’ which makes Elnecot such a great place to socialise. She also highly rates the diverse and well-thought-out menus, as Elnecot offers intricate dishes across its brunch, small plates and Sunday menus.

Heading across town, hidden beneath the railway by the arena, you’ll find Wholesome Junkies. Wholesome Junkies is a vegan junk food restaurant with funky interiors and a ‘cosy feel’ that comes highly recommended by Simone, our Head of Property Management. Wholesome Junkies recently celebrated its 6th birthday and has put a lot of work into creating a well-loved brand, space and menu. Simone goes as far as to say that Wholesome Junkies serves the ‘best burger in Manchester – not scrimping on flavour despite being vegan’! 

To make sure you’re kept up to date with these amazing eateries, follow them on Instagram: @offthepress.mcr, @elnecot, @wholesomejunkies

Pop-up Wine Bar @ Broadside

To celebrate the longer, lighter days as we head into spring, the team at Broadside teamed up with Kerb and opened up a pop-up wine bar in Broadside’s gorgeous rooftop lounge. In true Manchester style, the sun did not attend; however, tenants flooded in!

Whilst our resident DJ Joe Luckin played some tunes, tenants could try a range of Kerb’s delicious natural wine selection, which included red, white, orange and sparkling wines. Kerb’s lovely manager, Fi, ran the bar for the evening and was on hand to give recommendations or to answer any questions tenants had about the products. Tenants also got to enjoy the little refurb that the rooftop space has recently undergone, as we added a splash of colour with new soft furnishings and some new indoor and outdoor lights, ready for summer evenings. 

The Broadside team put on free events most months at the development: these range from breakfast clubs to curry nights to larger events in the summer and over the festive period. Every event involves teaming up with at least one local business, so tenants that are less familiar with the city get a taste of what’s on their doorstep. It’s also a great way to build a sense of community within the development, as tenants can meet their neighbours and chat with the team. 

Looking to rent in central Manchester? Like the sound of contemporary furnishings, communal spaces and regular events? Click the link below to book your viewing

Book a viewing

The Great Manchester Run

After a very successful attempt last year at the Hale 10k, Team Reside will be getting our running shoes on again on May the 21st in support of our partners, the Diane Modahl Sports Foundation.

DMSF are a local charity aiming to challenge and champion young people: encouraging them to make the most of themselves in sport, education and their communities. 

Delivering their programmes within Greater Manchester schools and the local surrounding communities, DMSF engage participants in physical activity, sporting pathways, life-skills training, mentoring and education. Their programmes have been designed to specifically target the personal development, behaviours and attitudes of young people.

Reside’s team members are running either the Manchester 10k or half marathon and are aiming to raise £1000, which would pay for training qualifications for four staff members, a great investment in the foundation’s future. 

To donate, please click the link below


City Spotlight: Castlefield

Situated on the outskirts of the Mancheter’s central districts, neighbouring Deansgate and the Oxford Road areas, Castlefield is an inner city haven: a carefully watched conservation area containing both green spaces and waterways. As we start approaching the summer months, Castlefield is the perfect place to hang out.

Last summer, the National Trust opened the first phase of Castlefield Viaduct: a 330m urban park on the old railway track. Dubbed the ‘sky park’ the viaduct is now full of copper planters, bursting with foliage and flowers. The National Trust has perfectly balanced the industrial feel of the viaduct with delicate, bright blooms, making it a truly unique and special place. 


Castlefield is also home to some lovely independent bars and eateries. These businesses have also carefully considered the natural beauty within Castlefield, and all incorporate outside seating; The Wharf is an old country pub that serves incredible food and cold pints and has a spacious beer garden; Dukes 92 is another perfect spot for summer dinner and drinks, with a gorgeous terrace that looks over the canal. 

Castlefield is also home to our brand new development, Canal Wharf House, with our first clients completing just over a week ago. This stunning boutique development represents the pinnacle of luxury and sophistication, with every aspect designed carefully to deliver unparalleled quality and bespoke style. The apartments are light and spacious, containing floor-to-ceiling windows and views of Castlefield. 

To book your viewing at Canal Wharf House, click the link below and fill out our enquiry form 

Enquire now

A Market Update

There are lots of confusing messages around at the moment regarding the housing market: one minute the press is stating that “house prices falling fast” and the next minute its “crisis in housing market supply leads to overheated rental market”. However, from Reside’s data over the past 12 months, what we can see is fairly clear.

Since the now infamous mini-budget of October 2022, the mortgage market – and the sales market – has slowed substantially. However, demand returned in the first quarter of 2023, along with an abundance of mortgage products. Last week, Nationwide reported that house prices have fallen by 3.1% in the UK over the past 12 months. This is a headline-grabbing quote and a vague snapshot, as within the UK, there are variations between regions and even further variations within those regions. 

It is also worth noting that the fallout from Liz Truss’ mini-budget seems to have been rectified by the government’s recent budget. There is no denying the Nationwide statistic is correct, but how about if we were to look at the same data over a longer period, say two or five years? If you moved house/sold property after five years, you are looking at an average national increase in value of around 25%. 

What is clear in Manchester City Centre is that there is a very high demand for the right property: in both the sales and rental market. Manchester is outperforming most UK cities, with the office/hotel markets performing well and entertainment venues such as Co-op Live and Factory International coming soon. The constant building of new infrastructure means more people are working in and around the city, requiring somewhere to live.

And with this being said, it’s important to remember one of the pillars of economics: supply versus demand. As it stands, the market cannot supply enough housing stock to satisfy demand. Until this changes, which will not be anytime soon, the bedrock of house/rental pricing looks to remain pretty resilient.