Manchester office space take-up exceeds 1m sq ft

New data has suggested the market for office space in Manchester enjoyed a good year in 2010.

Article posted: 19 Jan 2011

Take-up of office space in Manchester reached 1.32 million sq ft in 2010, according to new figures.

Data from the Manchester Office Agent's Forum indicates the market enjoyed a 66 per cent increase on occupancy levels from 2009, with the highest rent of the year equating to £30 per sq ft.

James Evans, director at Savills and spokesman for the forum, said the figures are indicative of "a very strong year" for Manchester's commercial property industry.

He claimed market conditions remain "challenging" throughout Greater Manchester, but added: "This level of take up further underpins both occupier and investor confidence in the region."

The city's most significant office space transaction of 2010 was the Co-Operative Group's pre-letting of 328,000 sq ft at Miller Street.

Work on the £100 million building, which has been billed as one of the greenest structures in Europe, was started by lead contractor BAM Construction in July last year.

Posted by Aree