Manchester office space forecast
Moving office to Manchester? Get up to speed with average market rents and what the next quarter might hold for the Manchester office market.
Manchester is showing signs of growth throughout 2010 as a key location for businesses thinking of moving office.
Office take-up in the city centre last year stood at the figure of 1.3 million sq ft which sets Manchester well above the long term average by 39 per cent. Some large deals boosted the Manchester office market, contributing to the gradual fall in the rate of vacancies in the city. Across the course of 2010, businesses considering an office move to Manchester could expect to pay headline office rents of £28.50 per sq ft but the predicted rates for 2011 are at £30 per sq ft.
Areas where office moving activity was particularly buoyant include the city centre commercial property market. However, recent refurbished office schemes have put pressure on the city centre work spaces in terms of rental incentives. But the rental growth is expected to stabilise in the coming year. Commercial Property Agents in Manchester have expected the outlook for office movers thinking of taking up new desk space in Manchester is strong in comparison to other business hubs. Some concerns have arisen over the lack of speculative development which is creating added demand for Grade A business space, but this is hoped to ease as the economic recovery continues.
To locate commercial property agents in Manchester to offer expert guidance for your office move, Help Moving Office has accredited members to assist you with your office relocation.
