Publication

Spotlight: Manchester Office Market – Summer 2016

Research Article

Contacts & Related Articles

With the outcome of the UK referendum now firmly sinking in, what does the result hold for the future of Manchester's office market?

Summary

■  Despite the lack of trophy deals recorded during the first half of 2016, take-up still remains in line with the first half long-term average.

■  The second half of the year is likely to see significant lettings drop into the figures to bolster take-up. We therefore expect the year-end figures to hit one million sq ft.

■  2017/18 should be a good opportunity for the refurbishment market. Now could be the time for landlords to capitalise on this as occupiers may seek 'value for money' options.

■  New enquiries have been more limited over the last month, but it remains too early to conclude if this is directly as a consequence of Brexit or a "seasonal adjustment".

■  The investment market started strongly, with c.£300 million transacted in the first half of the year. This is 8% up on the first half of 2015 and 3% up on the five-year average.

Articles within this publication

1 article(s) in this publication