Manchester more expensive than New York

Manchester has risen to number eight in a global survey of the world’s most expensive places to rent office space. According to CB Richard Ellis’s latest Global Market Rents survey of 158 cities worldwide, it is now more expensive to rent space in Manchester than it is in New York, Frankfurt or Stockholm. The total cost of renting space in Manchester is £37.50 per sq ft, according to the survey. Christine Hanson, managing director of CBRE in the North West, said: “Globally, the trend in prime office occupation costs remains down. But Manchester is typical of the growing strength of European cities in this survey at the expense of US cities.” The most expensive location in the world to rent office space remains London’s West End, where inclusive costs are £96.50 per sq ft, according to the survey. World’s most expensive office locations: top 10 Manchester is in 8th place Area £ per sq ft* 1 London, West End 96.50 2 London, City 65 3 Tokyo , Inner Central 63.23 4 Toyko, Outer Central 57.33 5 Paris 45.60 6 Birmingham 40.50 7 Edinburgh 37.75 8 Manchester 37.50 9 Dublin 36.89 10 Moscow 35.97 Source: CBRE *Based on total cost