White elephant?

Thursday 19th November 2020, 9.35am (day 3,374)

Oddfellows Hall & MECD, 19/11/20

The vast MECD, or Manchester Engineering Campus Development, is pretty much finished. In embryonic form it was first depicted way back in early January 2018. It now dwarfs the old Oddfellows Hall, which it has part-swallowed, yet what you see rising here is only a small part of the whole.

Thing is — and I am very sure that, having spent hundreds of millions of pounds on this new plaything, the senior management of UoM are keenly aware of this point — is this now the whitest and most mammoth of white elephants? And what of all the blocks of new student accommodation, and hotels, and office blocks, and all the other city-centre property developments that global capital has been poured into over the last decade or so? If you think the economy’s taken a Covid hit thus far, wait for the whole global commercial property market to go tits-up. This piece of economic elastic does not have infinite tolerance. I predict we’ll be coaxed back out into our offices soon enough: if not, they’ll hear the crash on Pluto.

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