Manchester’s office market continues to impress, with a 27.5% rise in take-up for the 12 months to the end of August.
Despite dwindling average deal sizes, an increase in the number of deals across the board has helped office take-up increase to almost 1.6m sq ft.
Two lettings totalling 160,000 sq ft at Soapworks to TalkTalk and the Home Office, led to JLL and Canning O’Neill finishing well above the rest of the pack, and comfortably improving on their totals from last year.
CBRE, 2014’s winners, saw the number of deals increase, but its average deal size was more than 75% down on last year’s figures. Its biggest deal of the year was the joint letting with OBI Property of 38,000 sq ft at 35 Fountain Street to Rental Cars.
On The Up: JLL
After a disappointing ninth place in last year’s table, JLL has risen all the way to the top this year. Boosted by the 106,000 sq ft letting to TalkTalk at Soapworks, it boasts the highest average deal size in the top 10, at more than 11,500 sq ft. This, combined with almost double the number of deals done last year, helped it rise back to the position it last occupied in 2012.
Going Down: Cushman & Wakefield
Despite advising Bupa on the largest deal in Manchester this year, with a 120,000 sq ft prelet at MediaCityUK, Cushman & Wakefield fell out of the top 10 for disposals. With a respectable average of more than 7,500 sq ft, low deal numbers let it down in terms of disposals.
Manchester’s office market continues to impress, with a 27.5% rise in take-up for the 12 months to the end of August.
Despite dwindling average deal sizes, an increase in the number of deals across the board has helped office take-up increase to almost 1.6m sq ft.
Two lettings totalling 160,000 sq ft at Soapworks to TalkTalk and the Home Office, led to JLL and Canning O’Neill finishing well above the rest of the pack, and comfortably improving on their totals from last year.
CBRE, 2014’s winners, saw the number of deals increase, but its average deal size was more than 75% down on last year’s figures. Its biggest deal of the year was the joint letting with OBI Property of 38,000 sq ft at 35 Fountain Street to Rental Cars.
On The Up: JLL
After a disappointing ninth place in last year’s table, JLL has risen all the way to the top this year. Boosted by the 106,000 sq ft letting to TalkTalk at Soapworks, it boasts the highest average deal size in the top 10, at more than 11,500 sq ft. This, combined with almost double the number of deals done last year, helped it rise back to the position it last occupied in 2012.
Going Down: Cushman & Wakefield
Despite advising Bupa on the largest deal in Manchester this year, with a 120,000 sq ft prelet at MediaCityUK, Cushman & Wakefield fell out of the top 10 for disposals. With a respectable average of more than 7,500 sq ft, low deal numbers let it down in terms of disposals.
Manchester’s office market continues to impress, with a 27.5% rise in take-up for the 12 months to the end of August.
