Ahead of MIPIM and UKREiiF 2025, Barry Crichton, Principal & Managing Director at Avison Young explores Greater Manchester's trailblazing approach to English devolution and whether it could help unlock wider growth across the North.
With MIPIM and UKREiiF 2025 just around the corner and following recent government announcements confirming that Labour is committed to further devolution across the UK – the ‘D’ word is set to be one of this year’s biggest talking points.
As the first ever devolved region, Greater Manchester has been a trailblazer. Showcasing the economic and regeneration success that can come from taking more control over regional finances and policy, Manchester has taken the reigns and run with it. Now, with the recent announcement of Greater Manchester Combined Authority’s 10-year Growth and Prevention Delivery Plan, along with the historic £630 million funding settlement, the region is set to embark on an ambitious programme to bring thousands more new jobs and homes to the region.
But aside from being a shining example of how to get devolution right, could Manchester be the key to unlocking more prosperity and opportunity across the North?
GMCA has always leveraged partnerships well, especially with the private sector which has helped to fuel the growth that we’ve seen in recent years. With its ambitious growth plans and unprecedented funding settlement, Manchester is setting a blueprint for other cities around the UK, and undoubtedly more eyes will be on the region than ever before. But as much as this is Manchester’s moment, there is an opportunity here for the wider North to benefit.
Over 90% of the North of England is already covered by a devolution arrangement, with Cumbria and Cheshire & Warrington set to follow by as early as May 2026. If GMCA was to work with authorities in Liverpool, the North East and Lancashire for example, where there are already well established Mayoral and devolution arrangements in place, we could see deeper collaboration and more joined up planning at a greater scale. By bringing in the new regions as well, it could help to establish their objectives more quickly and help drive investment that benefits the wider region, especially around hot topics like transport infrastructure. Through working together and strengthening the Northern voice, we can demonstrate the true value of what the North has to offer to the wider UK, being part of the solution and generating more prosperity for more communities.
As much as Greater Manchester has got a lot right in its approach to post-devolution growth, wider inclusivity is certainly still a challenge. Making sure all communities across the boroughs benefit from the growth plans has to be a priority.
Manchester City Council’s new Chief Executive, Tom Stannard recently noted that they are heavily focused on addressing health inequality, delivering more social and affordable housing and enhancing skills development across the city. Manchester has always been strong in terms of putting public sector skin in the game to fuel its plans, but Stannard is looking for the regional big employers to help drive diverse skills development and working with the private sector will be vital for achieving those wider objectives.
However, the emerging council spending review is critical and will influence market stability and commitment. The question for the market is – how do we mobilise and support the Manchester strategy? By making sure key priorities are clear, to both the public and private sector, putting a focus on delivery, and helping to manage risk, Manchester can take an approach that is proven and appropriate, and therefore far more achievable.
Events like MIPIM and UKREiiF give us a rare opportunity to be in the same place at the same time as public and private sector leaders from across the country. This feels like a pivotal time for the North, and I hope that Manchester, alongside other Northern regions can come together to have valuable conversations that result in real economic and social benefits for all.
With only 46% of the South currently covered by devolution arrangements, they will be looking to us to show how it can be done. Manchester’s £630 million funding settlement is a real show of trust in the region and for other regions to benefit in a similar way, GMCA must continue to show that money spent locally gets more bang for its buck than national spend. Regional investment is good for the country as a whole and as Northern regions continue to prosper under their ever-maturing devolution arrangements, it could be the key to breaking down the cliched North-South divide. The South has long-since been seen as an ‘easy or safe’ place to focus investment, but the tide seems to be turning, and devolution is the root of that success.
Avison Young will be attending MIPIM and UKREiiF as part of the Manchester Invest Partnership. To meet members of the team, visit the Manchester stand at both events.
See who else is joining the official Manchester delegation at MIPIM and UKREiiF.