Development doubles as Manchester's revival gathers pace

Drivers Jonas Deloitte Manchester Crane Survey records 11 new schemes for 2011

Article posted: 06 Apr 2011

In its 2011 Manchester Crane Survey, property consultant Drivers Jonas Deloitte has recorded a surge in new development activity since 2010 although new starts still remain well below the pre-recession peak of 32 in 2007.

Four new schemes are underway around the city’s northern fringe including the redevelopment of the former Boddington’s Brewery Site as well as within the £800m NOMA regeneration area (pictured) – the emerging Co-op Quarter.

The Crane Survey records the lowest level of office delivery in its 13 year history in 2011 with vacancy rates in those buildings completed in the last 12 months standing at 25% leading to little speculative office development this year.

However, following the highest take-up levels in Manchester’s history in 2010 and a lack of new schemes coming forward in 2011, Drivers Jonas Deloitte says a future shortfall of Grade A office space in Manchester is a real possibility with some developers currently scoping opportunities behind the scenes.

Confidence in Manchester’s office market has also been buoyed by a resurgent private sector – with professional services firms accounting for half of all lettings last year.

Drivers Jonas Deloitte says the figures demonstrate that the city is well positioned to shield itself from the Coalition Government’s austerity measures. The survey concludes on an optimistic note for Manchester’s future and highlights several significant regeneration masterplans in the pipeline.

For more information or to request a copy of the survey please contact Ann Ibrahim.

For breaking news relating to office space in North West England follow us on http://twitter.com/officespacenews

Posted by Jo