Updated: Friday, 5th June 2020 @ 4:07pm

Manchester worth £20billion and ranks 11th on UK list, show new figures

Manchester worth £20billion and ranks 11th on UK list, show new figures

| By MM staff

There are billionaires out there who can buy up the whole of Manchester for an estimated £20billion, according to new research.

But the average rent in Manchester costs residents around £860 pcm, with prices sky-rocketing as you get further towards the city centre.

This is normally the case for any major city across the UK or around the world but a new report has come to light which reveals the cost of homes of an entire city.

According to the data, Manchester sits in 11th position on the British scale, assuming the research includes every city across Britain.

And has revealed that Manchester, on average, could be bought for £20billion which to most people would be out of reach.

But not everyone as interestingly there are a number of people who have enough wealth to attempt to buy a city, such as Newcastle owner Mike Ashley who has enough money to purchase a small town.

UAE billionaire Sheikh Mansour bin Zayed Al Nahyan, the owner of Manchester City Football Club could also splash the cash.

As a key member of the ruling family in Abu Dhabi and investment mogul, he has an estimated £18billion in the bank.

The estimated fortune of the Manchester City owner is slightly less than the value of the entire city of Manchester, although they come impressively close with the Sheikh being able to afford 93% of all households which would be roughly 191,000 houses.

While this report is not accounting for commercial properties such as football stadiums and the Hilton building, it is unlikely any billionaire would have a vast enough wealth to buy a city with a major population.

But it is fascinating to understand how much the city would cost an individual should they want to attempt such a feat.

For those interested, the top three cities on value doesn’t leave any surprises as London is first on £1.4trillion, Edinburgh in second on £47.7billion and Birmingham third on £47billion.

For more information and view the valuation table, visit the research post here: https://www.onstride.co.uk/blog/british-billionaires-bought-birthplaces/

Image courtesy of Sue Langford, with thanks