Manchester office space take up on the up
April 14th, 2008 | by Simon Rattray |
According to a report by Colliers CRE, demand for Manchester office space increased 20% last year compared to the previous year.
However, the news was tainted by the fact that of the 1 million square feet of new office space set for completion in 2008, only a mere 12% has secured tenancies.
Total take up for 2007 was 340,000 square feet with the total stock now standing at over 16m square feet, which is up 5% on the last 2 years. Grade A office space now makes up 21% of all stock, an increase of 7% since 2006.
Total occupancy levels are now at 14.3m square feet (13.5m sq ft in 2006). The most remarkable fact to come out of the report is that there is over 3 million square feet of Grade A office space occupied in the City, up a whopping 55% on the last two years. More evidence if it were needed that Manchester is a thriving and dynamic place with a buoyant economy.
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