Market overview

In the short term, a shortage of space is expected, but several big schemes are lurking in the development pipeline City centre ” A shortage of grade A accommodation is forecast for the city centre ” Take-up totalled nearly 1.2m sq ft in 2001 with supply at less than 500,000 sq ft, according to Chesterton ” 35% of space available is in units of more than 20,000 sq ft ” Units of more than 20,000 sq ft total more than 350,000 sq ft in 13 units Central Includes M1, m2, M3, M4 Source: EGProperty Link South Manchester ” 65% of the units available are less than 5,000 sq ft in size ” Take-up in South Manchester totalled just over 600,000 sq ft, according to GVA Grimley ” New supply amounts to less than 200,000 sq ft for 2002, according to GVA Grimley ” Units of more than 20,000 sq ft total more than 700,000 sq ft in 16 units South Manchester Larger space dominates Source: EGProperty Link North Manchester ” 67% of the units available are smaller than 5,000 sq ft ” Average quoting rents are £7.88 per sq ft ” Seven units of more than 20,000 sq ft are available, which total 230,150 sq ft North Manchester Larger space dominates Source: EGProperty Link Manchester office lettings Large deals pushed up last year’s figures Agent Size (‘000 sq ft) Dunlop Heywood Lorenz 750 DTZ 610 Jones Lang LaSalle 5745 GVA Grimley 295 Lambert Smith Hampton 207 King Sturge 104 FPDSavills 71 Edwards & Co 45 Canning O’Neill 38 Source: Manchester Property Research