"The strengths of the City will remain its well established and diverse occupier base, its high level of graduate retention, and the projected strong growth in population"
Mat Oakley, Savills Research
The outlook for Manchester is undoubtedly positive.
■ Economic output in Manchester is forecast to grow by 4.6% in 2015, outpacing the region and the UK. This trend of better than average output growth is expected to continue for the next five years.
■ Occupational demand remains strong, driven by both local businesses and a rise in northshoring. We expect that take-up for 2015 will exceed one million square feet for the second consecutive year.
■ Investor demand for assets in Manchester remains strong, with investors looking to capitalise on the yield spread with London and the improving rental growth prospects.
■ We are forecasting that the prime office rent in Manchester will reach £37/sq ft by 2019.
