Manchester city centre office take-up in the second quarter totalled 175,000 sq ft, an increase of 36% on the previous quarter, according to the Manchester Office Agents Forum.
It brings the total for the first half of 2011 to 304,000 sq ft, slightly down on the same period in 2010, which came to 317,000 sq ft.
The largest transactions during Q2 were solicitor Linder Myers’ acquisition of the 47,500 sq ft 55 Spring Gardens (pictured) for its own occupation, and legal services firm HL Interactive’s acquisition of 9,000 sq ft at Bruntwood’s City Tower.
The recent deal agreed at City Tower, which saw Aegis acquire 36,000 sq ft, will be included within the Q3 figures, says MOAF.
In the south Manchester market, take-up increased by 38% from the previous quarter, albeit 31% below the same period in 2010.
Total H1 take-up for south Manchester was 207,000 sq ft, with Salford Quays at 52,000 sq ft and Old Trafford at 23,000 sq ft.
David Thwaites, head of office agency at Lambert Smith Hampton, and spokesman for MOAF, said: “The slow start experienced early in 2011 followed an extremely strong end of year for 2010, when take-up levels were boosted by several large deals, most notably by The Co-operative Group.
“It is understood that 2010 was an unprecedented year for occupational activity, which was always going to be difficult to maintain in the current climate. However, Manchester continues to outperform other competing regional centres, and should benefit from several large requirements likely to be satisfied before the end of the year.”
daniel.cunningham@estatesgazette.com
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