Manchester city centre’s total take-up of offices reached 1.3m sq ft in 2010, a 66% increase on like-for-like 2009 figures, according to the Manchester Office Agent’s Forum.
Total take-up was also 39% above the recent five-year average of 950,320 sq ft.
The figures were boosted by the Co-operative group’s preletting of 328,000 sq ft at Miller Street, which went unconditional last year. The building is now on site.
The MOAF also reports the highest rent achieved during 2010 equated to £30 per sq ft.
James Evans, director at Savills and spokesperson for the forum, said: “When one considers the global economic picture coupled with uncertainty surrounding the public sector austerity measures, these figures illustrate a very strong year for Manchester. Undoubtedly the occupational markets throughout Greater Manchester remain challenging. However, this level of take-up further underpins both occupier and investor confidence in the region”.
daniel.cunningham@estatesgazette,com
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