Manchester Office Take-up set to hit Three-Year High

Posted on 4 December, 2013 by Jodee Redmond

The latest research from Lambert Smith Hampton (LSH) has found that Manchester office space is being snapped up at a rapid pace.

The year started off slowly, but Q3 saw city centre take-up reach 198,766 sq ft. This figure represents an increase of 77 per cent over the previous quarter, which brings the total take-up for the year to November to 655,108 sq ft.

By the end of December, the levels should reach the 850,000 sq ft mark, which is the equivalent of approximately 11 Old Trafford football pitches. This is well above the 758,000 sq ft level achieved in 2012 and the highest amount seen since 2010.

Out-of-town take-up has also increased in Q3, rising by 25 per cent to 179,583sq ft. However, there has been a drop in demand in Salford Quays and Old Trafford compared with the same period in 2012.

Mark Bamber, the associate director of Office Agency at LSH Manchester, believes the figures point to an upward trajectory. He went on to say that while they are not yet at pre-recession levels, consistent recovery is “much more sustainable” than the boom the market saw in 2007.

Mr. Bamber said that he expects to see increased activity in the last quarter of the year and that there is no reason why the growth trend should not continue into 2014.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme