MediaCityUK Development Finance
MediaCityUK is the UK's leading media and technology campus — a purpose-built destination on the Salford Quays waterfront that is home to the BBC, ITV, the University of Salford, and a thriving ecosystem of over 250 creative and digital businesses. MediaCityUK development finance funds property projects across this dynamic district, and Manchester Development Finance is the specialist broker that secures competitive terms for developers from our panel of 50+ lenders. Developed and managed by Peel L&P, MediaCityUK has evolved from a bold relocation strategy into one of the most successful mixed-use campuses in Europe.
The Phase 2 expansion of MediaCityUK is now well underway, extending the campus with new studios, workspace, residential buildings, and public realm that will significantly increase the district's population and economic output. For property developers, MediaCityUK offers an exceptional combination of institutional-grade infrastructure, blue-chip anchor tenants, direct Metrolink connectivity to Manchester city centre, and a waterfront setting that commands premium residential values. The established tech and media employment base provides a deep and resilient tenant pool for Build to Rent and co-living schemes.
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MediaCityUK Planning Context and Development Policy
MediaCityUK falls within Salford City Council's planning jurisdiction, with development guided by both the council's local plan and the specific masterplan frameworks agreed between Salford City Council and Peel L&P as the estate owner and developer. The Phase 2 masterplan sets out the parameters for the campus expansion, including building heights, land uses, density, and public realm requirements. This coordinated approach provides clarity for both developers and lenders regarding what can be built and where.
Salford City Council has been a proactive partner in MediaCityUK's development, recognising the campus as a strategic economic asset for the city. Planning policies support a mix of uses including residential, commercial, studio, education, and leisure, with an emphasis on creating a genuine 18-hour neighbourhood rather than a single-use business park. The council supports buildings of significant height within the campus, particularly along the waterfront and at key gateway positions, where towers of 20+ storeys have been approved.
For development finance purposes, MediaCityUK's estate management structure is an important consideration. Peel L&P controls land disposal and maintains design standards across the campus, which means development opportunities are accessed through the estate rather than the open market. This curated approach benefits lenders by ensuring a coherent development programme and protecting values across the estate. Developers should understand the estate charge structure and Peel's design approval process when modelling scheme viability and approaching lenders for finance.
Recent and Approved Development Schemes at MediaCityUK
MediaCityUK's Phase 2 expansion represents one of the largest active development programmes in the North West, with multiple schemes progressing simultaneously across the extended campus. The expansion is adding significant new residential capacity alongside upgraded studio facilities, flexible workspace, and enhanced public realm that connects the original campus to the wider Salford Quays waterfront.
Build to Rent has emerged as the dominant residential typology at MediaCityUK, reflecting the demand profile of the area's young professional workforce. Several major BTR schemes have been completed or are under construction, offering waterfront apartments with extensive amenity provision including co-working spaces, gyms, roof terraces, and concierge services. The University of Salford's campus relocation to MediaCityUK has also generated demand for purpose-built student accommodation and graduate housing within the estate.
Beyond residential, MediaCityUK continues to attract commercial investment. New studio facilities for broadcast and digital content production are under development, while flexible workspace operators have taken significant space to serve the growing community of SMEs and freelancers in the tech and creative sectors. A new public square, retail pavilions, and a hotel are among the amenity improvements that are completing the campus's transformation into a fully self-contained neighbourhood.
The institutional quality of MediaCityUK's development programme provides lenders with exceptional confidence. Completed schemes demonstrate strong occupancy rates, proven rental levels, and minimal void periods, creating a robust evidence base for underwriting new proposals. The presence of the BBC, ITV, and the university as long-term anchor tenants provides a demand floor that is rare in speculative development locations.
MediaCityUK Market Statistics and Lender Appetite
MediaCityUK residential values typically achieve £325 to £425 per square foot for new-build waterfront apartments, with premium units offering direct water views and higher-floor positions commanding the upper end of this range. Rental yields of 5.5% to 6.5% gross are achieved across the campus, with BTR schemes benefiting from the captive tenant base of media, tech, and university employees and students. Stabilised occupancy rates consistently exceed 95%, reflecting the genuine depth of demand.
Lender appetite for MediaCityUK development is among the strongest in Greater Manchester, reflecting the area's institutional credentials and proven market fundamentals. Senior development finance is typically available at 65-70% LTC with competitive rates, and the blue-chip tenant base gives lenders confidence in the long-term demand outlook. Specialist BTR lenders are particularly active in this location, often offering enhanced terms for schemes designed specifically for the rental market with professional management and comprehensive amenity provision.
The Metrolink connectivity linking MediaCityUK to Manchester city centre in under ten minutes, combined with the area's self-contained amenity and employment ecosystem, creates a compelling investment thesis that attracts both debt and equity capital. Our team has extensive experience arranging development finance for MediaCityUK and the wider Salford Quays area, structuring facilities that reflect the specific dynamics of campus-based development and the opportunities presented by the Phase 2 expansion.
£325-£425
Price per sq ft (waterfront)
5.5%-6.5%
Gross rental yield
65-70%
Typical senior LTC
12
Active development schemes
Explore Connected Development Areas
MediaCityUK sits within the wider Salford Quays waterfront, connected to Manchester city centre by Metrolink and to the broader Salford development corridor by road and tram infrastructure. Developers active at MediaCityUK frequently explore opportunities in the adjoining areas.
Salford Quays
Greater Manchester's premier waterfront destination. BTR schemes and mixed-use developments along the historic docklands and Lowry corridor.
Greengate
Salford's emerging city centre gateway. Tall tower cluster and riverside developments directly opposite Manchester's cathedral quarter.
Victoria North
20,000-home masterplan on the northern edge of Manchester city centre. Large-scale residential pipeline with decades of opportunity.
Related Resources
- Our Development Finance Services — Senior debt, mezzanine, BTR funding, and JV equity
- Case Studies — Including MediaCityUK BTR and waterfront schemes
- Loan Calculator — Model your MediaCityUK development finance facility
- Contact Us — Discuss your MediaCityUK development project
- All Areas — View all Greater Manchester development hotspots
Planning a Development at MediaCityUK?
From BTR waterfront schemes to campus workspace developments, get indicative terms for your MediaCityUK project within 48 hours from our specialist team.