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Skyscrapers and ‘Manchesterism’: City divided over latest towers

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Special report after Renaker gets permission for five more high-rises

Images from Plot D, a new project in for planning which will become Manchester's tallest building once complete

An early CGI for Plot D, the new project from Renaker (Image: Renaker/SimpsonHaugh)

They’re the towers that changed Manchester forever.

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Skyscrapers have reshaped the city’s skyline in recent years, standing tall over the bustling centre below.

They’ve created thousands of homes and brought new people to Manchester, boosting businesses and keeping the city centre busy.

Some say it’s a sign of how Manchester is booming, but others have questioned how the city has gained more luxury apartments while 20,000 households face lengthy waits for more social housing.

This month decision notices were issued to property giant Renaker to build five new high-rise buildings in the city centre.

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More than 2,300 flats will be built in a move which could ‘define what the city looks like for future generations’, after planning permission was first granted in 2024.

Based on Great Jackson Street near Deansgate, the largest tower, called Plot D, will be 71 storeys tall at 213 metres (698 ft), with another four buildings based in the same area on land known as Plot C And Plot E, two at 47 storeys and two at 51 storeys.

The schemes include no on-site affordable homes, which are properties priced below market rates.

In Manchester’s council chamber, concerns are growing from opposition members about the future of the city.

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“So this is Manchesterism – developers get richer, homes get more expensive and Mancunians only get more shiny glass to clean,” the city council’s Reform UK group said in a statement.

“One PM and a mayor later, the sleeping Renaker giant awakes to throw up another 2,300 luxury flats at Great Jackson Street. Zero affordable housing included despite the whole developer fortune being built on taxpayers money.”

Responding to the comments, a Manchester City Council spokesperson pointed out that ‘viability margins are incredibly tight’ in the city, and that development at this scale ‘remains incredibly challenging and risky’.

Manchester’s Reform UK group is led by Councillor Sian Astley, of the Baguley ward. She was a recent hopeful in the Greater Manchester mayoral election against Bev Craig, and said if she had won one of her key goals was to ‘open the books on contracts Andy Burnham awarded during his time as Labour’s mayor’.

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A section 106 agreement made by Manchester City Council when approving the new Renaker towers means there is a so-called ‘clawback’ mechanism which could put money in the council’s pocket, capped at £33m for the 71-storey tower, and £81m for the other four towers.

The council expects to get some money back from the deal, but how much is still unknown at the moment.

When the schemes are at 75 per cent construction completion, a test is planned over how profitable the development could be. At that point it would become clearer if any of the section 106 money could be paid to the council

Part of that formula also depends on how the homes are sold. Properties for open market sale need to hit a 20 per cent profit from their initial outlay before the section 106 agreement kicks in, while for build-to-rent apartments the profitability margin is lower at 12pc.

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Manchester’s Reform UK group added in its statement: “A section 106 agreement suggests Renaker could deliver £114m across two schemes, The Green and The Lighthouse, for future affordable housing for Mancunians, but in reality never will, because that magical 20 per cent developer profit will not happen.

Contour And Plot D, seen in planning documents.

Contour And Plot D, seen in planning documents from developer Renaker(Image: Renaker )

“Not when the developer and the builder are the same company working out their own figures, not when the council’s own valuer Savills‘ figures show it’s currently unattainable and not when it’s up to MCC to prove the profit.”

Renaker was approached for comment but has not yet responded.

A look at previous Renaker planning applications shows the company has made contributions to the city, if not through on-site affordable homes.

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It includes contributions towards a primary school, Crown Street School, and NHS medical centre at Elizabeth Tower, as well as off-site affordable housing contributions which supported the restoration of listed buildings at Westwood Cottages in Moss Side and the Ancoats Dispensary in Ancoats and Beswick, which helped deliver affordable homes at the Manchester Living Rent.

But concerns remain about the lack of on-site affordable properties in Manchester’s skyscrapers.

Green Party Councillor, Sarah Wakefield, from the Deansgate ward, said: “Manchester has a housing crisis, it’s the biggest issue impacting our residents across the city. In Deansgate affordability, facilities for families and lack of climate adaptation in new towers built are concerns raised regularly.

“With over 15,000 families on Manchester’s housing waiting list, many having to wait nearly a decade for a home, but the council has approved almost 2,300 flats and not one of them is affordable.

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“Unfortunately, this isn’t a one off, but a pattern when it comes to Renaker, which has now delivered thousands of homes across Manchester backed by GMCA [Greater Manchester Combined Authority] loans, without a single affordable one among them. You can’t call housing a priority and allow developers to dictate Manchester’s strategy on affordable housing.”

The five new Renaker towers are not using any public loans from the Greater Manchester Combined Authority (GMCA), but previous developments have.

The firm has also been criticised by property rivals in Manchester over its affordable housing record. One of those critics is landowner Aubrey Weis.

A Weis Group spokesman said: “The council continues to bend over backwards to ensure this developer makes no affordable housing contributions.

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The existing towers at Deansgate Square, Manchester

The existing towers at Deansgate Square, Manchester(Image: Sean Hansford | Manchester Evening News)

“Having now accepted that public realm costs should not be used to offset affordable housing obligations, there are serious questions about why this scheme is still making no contribution at all, and whether previous schemes should have been required to contribute more.

“Especially as some of those schemes were presented to the GMCA as highly profitable in order to access public money.”

The Weis Group has previously taken the Greater Manchester Combined Authority (GMCA) to court over loans it gave to Renaker.

One of the most well-known examples was a GMCA decision in 2024 to lend £140m towards so-called special purpose vehicles by Renaker founder Daren Whitaker.

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This decision has been at the heart of a legal battle between the GMCA and Mr Weis.

The Weis Group lodged a ‘permission to appeal application’ in August to the Supreme Court against the GMCA over these loans, following previous hearings in the Competition Appeal Tribunal and the Court of Appeal.

It could see the matter end up being heard in the UK’s highest court.

A GMCA spokesperson said of the appeal: “Both the Competition Appeal Tribunal and the Court of Appeal have heard this case, and on both occasions they found that these loans were given on commercial terms.

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“We do not believe this appeal has any merit and have submitted our response to the Supreme Court.”

A Weis Group spokesperson said: “We’re hoping the Supreme Court will consider how the GMCA can lawfully lend taxpayer money to schemes considered unviable by their own developer without engaging the subsidy control act.”

What Manchester City Council said about the new Renaker skyscrapers

A Manchester City Council spokesperson said: “Our planning committee resolved to grant the planning permission for these schemes two years ago to deliver nearly 2,400 homes, which represents a substantial investment from the developer in our city and will contribute to helping us meet our ambitious housing strategy targets in the coming years.

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“And we have been able to secure a s106 agreement against these schemes that would see significant affordable housing investment across the city subject to further viability testing during construction.

“While Manchester has enjoyed major growth in the last decade, particularly in our city centre where the population now exceeds 100,000 people, development remains incredibly challenging and risky – and this is ever more so for development at this scale.

Manchester Town Hall ahead of its spring 2027 completion date

Manchester Town Hall ahead of its spring 2027 completion date(Image: Jason Roberts / Manchester Evening News)

“Viability margins are incredibly tight in Manchester and that means slimmer profit margins for investors too. Manchester City Council also demand a lot from developers who invest in our city and to build here comes at a premium. We expect high-quality developments with exemplary public realm space, alongside other impactful contributions – and at a time when inflationary pressures in the construction sector means many schemes are unviable here and across the UK.

“The viability of all schemes and whether they can contribute to affordable housing is tested robustly through the planning process and is independently assessed. However, although s106 through the planning process is one route of building affordable housing, it is limited in the current economic climate, and it represents only a small portion of affordable housing built across the country. The most impactful way of building affordable housing is to build at scale using national funding to meet demand, while repurposing the brownfield land that is available to us.

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“We’ve made a clear commitment to increasing the number of social rent, Council and genuinely affordable homes available to Manchester people and we’ve just seen another record year for affordable completions where half were for social rent. 2,500 affordable homes have been built since 2022 and with a strong pipeline of future projects, we are on track to meet and exceed our target to build at least 10,000 by 2032.”

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Why Shopify Stock, Twilio Are Rising On Meta’s Muse Rollout

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Why Shopify Stock, Twilio Are Rising On Meta's Muse Rollout

Shopify (SHOP) stock and shares in Twilio (TWLO) gained again on Tuesday amid expected upside from Meta Platforms’ (META) rollout of “Muse,” an artificial-intelligence-based assistant. Shopify and Meta on Monday announced an e-commerce partnership. Meta will integrate Shop Pay into Muse to allow the AI agent to execute seamless, “agentic checkouts” across Shopify’s merchant network. Muse has quickly risen to…

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Stocks Mixed as Oil Sinks Below $100

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U.S. Stocks Jump, Oil Drops After Bessent Says Iran Deal Could Be Close

Falling oil prices are helping U.S. tech stocks stay buoyant Tuesday.

The tech-focused Nasdaq Composite Index rose modestly in late trading, poised for a second straight record high. The Dow industrials slipped and the S&P 500 traded near flat. Brent crude futures edged lower, falling to roughly $100 a barrel after encouraging news about oil exports from the Middle East.

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Mission Foods expands chip portfolio

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Mission Foods expands chip portfolio

IRVING, TEXAS — Mission Foods is unveiling two product innovations: protein chips and grain-free chips.

Mission’s protein chips are available in chile limon and jalapeño varieties, and the chips feature 10 grams of plant-based protein per serving.

The company’s grain-free chips are formulated with cassava flour, whole chia seeds and avocado oil. Varieties include sea salt and hint of lime.

“Protein and fiber are two things people are trying to get more of, and snacks are a great place to do it,” said Sathish Mohanraju, vice president of sales and marketing for Mission Foods.

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The chips are available at Kroger locations nationwide, and the company expects to add further retail availability.  

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Welch’s adds natural fruit spreads

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Welch’s adds natural fruit spreads

WALTHAM, MASS. — Welch’s is launching a line of fruit spreads formulated with simple ingredients.

Welch’s Simply Natural Fruit Spreads contain five ingredients and are sweetened with cane sugar and honey. The product is free from high-fructose corn syrup, artificial flavors, colors and preservatives, according to the company.

The fruit spreads are available in concord grape and strawberry flavors.

“Welch’s has had a place in family routines for generations, but today’s parents expect more from the foods they put on the table,” said Andrew Hartshorn, chief brand and innovation officer at Welch’s. “Simply Natural reflects that shift with five simple ingredients, including a touch of real honey, in a fruit spread families already know and love.”

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The spreads are available at retailers nationwide.

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Ed Davey promises tax cuts for millions if UK rejoins EU single market

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Ed Davey delivers speech to Lib Dem conference in suit and tie

The Liberal Democrats will fight the next general election on a promise to cut taxes for millions of workers, Sir Ed Davey has said in a speech to his party conference.

The Lib Dem leader said that if he gained power, he would raise the annual tax-free personal allowance to £15,000.

He would also raise the 40p income tax threshold from £50,270 to £56,000, in a £17bn package funded by the economic boost he says would come from the UK rejoining the EU single market and customs union.

He claimed the plan would mean a £680 cut for “most taxpayers” but it would not come into full effect until the fifth year of a Lib Dem government – potentially up to eight years away.

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The announcement was greeted with sustained applause by Lib Dem MPs and activists in the Brighton conference centre.

The £12,570 income tax allowance was frozen by the Conservatives in 2021, resulting in more people being dragged into paying the tax, and Labour has so far resisted calls from trade unions and some of its MPs to unfreeze it.

The Lib Dems said they would raise the threshold to £15,000 a year, and increase the starting point for paying employee National Insurance (NI) to the same level.

At their conference earlier this month, Reform UK promised to increase the income tax personal allowance to £15,000 within 100 days if they won power.

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Sir Ed told the Lib Dem faithful “the difference between us and Reform” is that “their tax cut is paid for through cruelty.”

He said “Reform’s figures show they’d pay for it by ripping £22bn of crucial support away from disabled people.”

Under the Lib Dem plan, based on research by think tank Frontier Economics, external, the economic boost from rejoining the single market would allow the party to spend £17bn on tax cuts by the end of the next Parliament.

The party says it would unfreeze personal allowances in the second year of a Lib Dem government, allowing them to rise with inflation, before bringing in big tax cuts in year five when the economic benefits of closer trading with the EU had kicked in.

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However, the move would depend on the party being able to negotiate a closer trading arrangement with the EU in just 12 months.

Stuart Adam, of the Institute for Fiscal Studies think tank, told BBC Verify the Lib Dem package would cost “much more” than the £17bn quoted by the party.

Reform has estimated that its policy, to raise the starting threshold to £15,000 just for income tax, would cost £21bn by the fifth year.

The Lib Dems say their policy would be funded by an extra £27bn from its plans for a “growth and defence pact” with the EU.

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DoorDash admits it ‘screwed up’ after underpaying New York workers

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Person rides a moped with an brightly-coloured bag attached to the back with the logo reading Doordash

DoorDash has agreed to pay a $131.5m (£99m) settlement to New York City regulators after the food delivery giant admitted failing to compensate thousands of workers correctly or on time.

“Simply put, we screwed up,” DoorDash said. “Our mistakes meant some Dashers were underpaid or paid late.”

The agreement with the Department of Consumer and Worker Protection follows a city investigation into wage violations, with a significant share of the payout addressing how DoorDash calculates compensation for the time delivery drivers spend waiting for orders.

The settlement marks another chapter in an ongoing battle between so-called gig economy platforms and municipal leaders.

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The likes of Uber Eats and Grubhub have repeatedly clashed with city officials over tipping laws, minimum wages and data-sharing requirements.

San Francisco-based DoorDash blamed “complex” changes to the minimum wage in New York state introduced in 2023.

Under the landmark minimum pay standard for app-based delivery workers, wages differ depending on the county, tipping and how many people work for the employer.

DoorDash also cited technical glitches and multi-stop delivery routes for causing the firm to underpay workers or delay wages.

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The company said: “While these mistakes weren’t intentional, that doesn’t make them okay.”

DoorDash said local workers earn roughly $30 per active hour on average. It said it has now patched the software bugs responsible for the mistakes.

The business said the errors hit roughly 264,000 workers, though it insisted the issues affected under 1% of overall local transactions.

Systemic errors caused around $6.6m wages to never reach workers at all, and another $5.7m arrived days or weeks late.

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Firefly Aerospace: The Next Rocket Stock Wall Street Will Chase (NASDAQ:FLY)

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Spaceship flying over earth with open bay doors revealing sunrise. 3d render

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Trump vows to reject ‘globalist scheme’ to rein in AI, superintelligence

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Trump vows to reject 'globalist scheme' to rein in AI, superintelligence

President Donald Trump on Tuesday said the U.S. will reject what he called a “globalist scheme” to control artificial intelligence (AI) and emphasized the importance of the U.S. winning the race in emerging tech.

The president made the remarks in an address to the United Nations General Assembly in New York City.

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“The United States also totally rejects any attempt to construct a globalist scheme to control for the artificial intelligence being spoken of so much now,” Trump said, adding that he thinks AI should be referred to instead as “superintelligence” (SI).

“Whoever wins AI, you have to remember this, and now I say whoever wins SI, whoever wins superintelligence, wins. That’s the group that wins,” Trump said. “We’re leading now over China by a lot and everyone else. We’re going to keep it that way. We’re going to keep it very straight and very strong.”

NVIDIA’S JENSEN HUANG REJECTS AI DOOMSDAY FEARS: ‘2030 IS NOT GOING TO BE THE END OF THE WORLD’

President Donald Trump at the UNGA.

President Donald Trump addresses the 81st United Nations General Assembly at United Nations headquarters in New York on Sept. 22, 2026. (Angela Weiss/AFP via Getty Images)

“I’m not going to stifle growth of something that will be bigger than the industrial revolution, many say bigger than the industrial revolution or the internet itself,” Trump said, adding that the U.S. “will be very careful” and the Department of Justice will help oversee the industry.

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“We will only encourage superintelligence. We’re going to encourage it, not rein it in. We’re going to watch it closely through the Department of Justice,” Trump said.

TECH POWER PLAYERS LAND SEAT AT TABLE FOR HIGH-STAKES DINNER WITH TRUMP, XI

“The United States leads the world in superintelligence and will continue to do so safely and responsibly. Americans have never been a nation that retreats from a frontier or shrinks from a challenge, no matter how great or how daunting that challenge may be,” Trump said.

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Iran Offers to Reopen Strait of Hormuz Within Seven Days if US Eases Military Pressure, Lifts Blockade

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Kuwait International Airport

DUBAI — Iran has offered to reopen the Strait of Hormuz within seven days if the United States eases military pressure and lifts its blockade on Iranian ports, a senior Iranian official told Reuters on Tuesday, raising hopes for renewed diplomacy after nearly seven months of conflict in the Middle East even as violence continued along the strait itself.

The proposal, reportedly communicated to Washington through mediators, comes as Iran’s delegation to the United Nations General Assembly arrived in New York this week with what officials described as full authority to revive diplomatic talks with the United States. Iranian President Masoud Pezeshkian departed Tehran for New York on Tuesday morning, though he is not expected to meet directly with U.S. officials during the trip.

A senior Iranian official laid out the conditions Tehran is seeking before any reopening could take place. “The US needs to announce that it wants to resolve the issue diplomatically, make that official, and then agree on a timeline for how the process will move forward,” the official told Reuters. Iran had previously outlined seven separate conditions for restarting broader talks with Washington, including the lifting of the naval blockade on its ports and the unfreezing of Iranian financial assets held abroad.

The offer follows a tense weekend in which Iran’s military central command said it had been informed the United States was preparing to restart military operations with support from regional countries, warning that any renewed offensive would prompt Tehran to retaliate “without limitations and considerations.” That warning underscored how quickly the situation along the strait could escalate further even as this week’s diplomatic overture opened a potential path toward de-escalation.

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Financial markets reacted quickly to the reports of Iran’s offer. Oil prices fell sharply, with Brent crude dropping below $99 a barrel, down more than 3.5% from the day’s earlier high, while U.S. West Texas Intermediate crude declined 2.25%. The moves reflected easing concern among traders that the seven-month disruption to global oil supply routed through the strait could be nearing some form of resolution, even though the proposal remains conditional and unconfirmed by the United States.

Despite the diplomatic opening, violence along the strait itself continued unabated in the days immediately preceding the offer. Iran struck another tanker on September 21, injuring two seafarers, according to the Maritime Executive, which cited reporting from the U.K. Maritime Trade Operations center. The vessel was identified as the LR Stephanie, a 72,825-deadweight-ton crude oil tanker registered in the Isle of Man. U.S. Central Command issued its own update the same day asserting that oil continues to move through the strait and that, in the command’s words, “momentum is building” toward normalized traffic, a characterization that stood in tension with Iran’s continued assertion of control over the waterway.

Shipping data compiled by different trackers has painted a somewhat inconsistent picture of just how much traffic is currently moving through the strait. Kpler data cited by Reuters showed only 17 vessels transited the strait over the weekend, down sharply from 37 the week before, with just one very large crude carrier and two refined product tankers making the crossing on Sunday. A separate tracking service, UA.NEWS, reported 12 vessels crossed the strait over the same weekend period, while IMF PortWatch data showed just eight transits recorded on September 13, compared with a pre-crisis daily baseline of roughly 85 vessels. The discrepancies among these figures reflect the difficulty of establishing a single authoritative count of traffic through the strait amid the ongoing crisis, though all available data points to traffic remaining dramatically below normal levels regardless of the exact figure used.

Additional maritime incidents were reported in the 24 hours before Tuesday’s diplomatic news broke. Maritime publications gCaptain and TradeWinds News reported that two seafarers were injured when tankers were struck by unidentified projectiles in the strait, without any party claiming responsibility for the attack. Separately, UKMTO reported that a liquefied petroleum gas tanker sustained damage from debris tied to unidentified projectiles in the same waterway. An unverified, single-source claim from Iranian outlet Pars Today asserted that an advanced reconnaissance drone had been destroyed over the strait, though that report could not be independently confirmed.

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The crisis has also continued spreading to a second critical waterway. Iran-aligned Houthi forces in Yemen recently seized Perim Island in the Red Sea, tightening their control over the Bab el-Mandeb Strait, another essential chokepoint for global oil shipments and a key alternative route Saudi Arabia has relied on to bypass the Strait of Hormuz via its East-West pipeline. Houthi-linked media claimed a Saudi airstrike killed six people in the Yemeni port city of Mokha, though that claim has not been independently verified. In response to the expanding Houthi threat, the United Kingdom has reportedly agreed to support Saudi Arabia’s defense with Royal Air Force air-to-air refueling support for Saudi aircraft, an arrangement U.K. Prime Minister Andy Burnham said would remain in place for a matter of weeks and be kept under continuous review.

With Iran’s proposal now before Washington and reportedly under discussion through diplomatic channels in New York, the coming days are likely to determine whether the seven-month crisis moves toward a negotiated resolution or continues along the same pattern of intermittent attacks and disputed claims that has defined the standoff since it began in late February.

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Microsoft Stock Scores Positive Reviews On AI Momentum

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Microsoft Stock Scores Positive Reviews On AI Momentum

Microsoft (MSFT) stock earned several positive analyst reports this week as the cloud computing and software giant grows its artificial intelligence business. On Tuesday, Oppenheimer analyst Brian Schwartz reiterated his outperform rating on Microsoft stock and raised his price target to 570 from 515. In a client note, Schwartz said he sees enterprise customers increasingly standardizing on Microsoft as their…

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