Commercial property in the north west has been performing above and beyond expectations in recent years with a 46% increase in investment activity to over 4 billion in 2017. In 2018, Manchester had a record breaking 64 cranes in the skyline – even if this was just for one day!
During 2018, there were a total of 31 schemes completed in Manchester, compromising a mix of residential developments, offices, hotels and educational facilities.
Office space has been in high demand throughout 2018 and has not showed any signs of slowing down going into 2019. Demand for grade A office space has been particularly high, even going so far as to push up grade B office rents. This is mostly attributable to thriving industry in Manchester, with a particular focus on the advanced manufacturing, digital and technology, and professional services sectors. Manchester has also recently been recognised as the UK’s tech capital outside London.
One major new development in Manchester is the development of commercial and office space in Two New Bailey Square, with a 188,500 sq space available to let. Manchester will also have the fifth largest building in the country with the completion of South Tower at Deansgate Square due for completion this year.
No signs of slowing down
With investment in Manchester set to remain high in 2019, commercial property activity in the region is likely to remain buyout.
We act for a range of substantial property investors and we are always keen to speak to investors and developers and understand how we can help you. Focusing exclusively on commercial property transactions, we have the knowledge to be an effective asset in your portfolio.
“During 2018, there were a total of 31 schemes completed in Manchester, compromising a mix of residential developments, offices, hotels and educational facilities.”
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