One of the firm’s partners Simon Reynolds has suggested that office space in outlying areas of the region may struggle to attract or retain tenants but that Manchester is well set for a positive 2011.
New office space projects will continue to reach completion as the year unfolds and schemes in and around Manchester look likely to remain popular with businesses aiming to establish themselves or continue their growth in the north-west, Mr Reynolds told the Manchester Evening News.
Office space in Liverpool performed well last year as well but Manchester is believed to be particularly well-placed to grow its international reputation over the next 12 months or so.
Another expert commentator, Mark Bamber from the commercial property consultancy Lambert Smith Hampton, told the same paper: “Having overtaken Birmingham, and sitting comfortably above the likes of Leeds, Edinburgh, Glasgow and Bristol in a recent survey of the best European cities to locate a business, it would appear that Manchester’s claim to the unofficial title of the UK’s second city has been fully endorsed.”
A report from Lambert Smith Hampton last month noted that the take-up of office space in Greater Manchester grew in scale by around 45 per cent during 2010 to almost 2m sq ft from 1.3m sq ft in the previous 12 months.
Salford Quays and particularly the MediaCityUK project being spearheaded by the Peel Development Group is among the most high-profile schemes currently ongoing in Greater Manchester, with sizeable areas of office space currently being brought to market at the site on a monthly basis.
Editor’s notes: In 2022, the take-up of office space in Manchester by way of office lettings deals totalled 1.2 million square feet.
In the same year, Liverpool’s total take-up figure was 510,552 square feet.
In terms of the other five markets within the Big 6 Regional Office Markets, that Mark Bamber referred to, Birmingham’s figure for 2022 was 692,700 square feet, and Bristol’s take-up figure was 620,200 square feet.
660,700 square feet of office space was let in Edinburgh in 2022 and Glasgow saw 409,200 square feet transacted while 618,200 square feet of Leeds office space was taken up over the year.