Manchester offices beat 2014 take-up record by 31%

Manchester office take-up hit a record 1.75m sq ft in 2018 – 31.4% above the previous record set in 2014, according to the Manchester Office Agents Forum. More than half a million sq ft of deals were completed in the final quarter, led by Amazon leasing close to 90,000 sq ft at Hermes Investment Management’s Hanover building. WeWork signed a deal for 76,174 sq ft at Dalton Place. The year’s largest deals were Booking.com announcing its 225,000 sq ft headquarters at Allied London’s Manchester Goods Yard, while HMRC prelet 157,000 sq ft at 3 New Bailey Street. MOAF said it expects another strong year in 2019 because of a number of large requirements and several significant grade-A office buildings scheduled for completion, including Worthington Properties’ 125 Deansgate, Barings’ Landmark and Patrizia’s Number 8 First Street. Harry Skinner, associate director at Avison Young, said: “The performance of the market in 2018 clearly demonstrates that despite the backdrop of political uncertainty Manchester is going from strength to strength. “The improved transport infrastructure, significant leisure offering and a vast university talent pool are all factors pulling occupiers towards Manchester over other regional cities.” To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @karltomusk or @estatesgazette