Q1 city centre office take-up remained in line with the previous quarter, totaling 272,107 sq ft (Q4 2012: 275,000 sq ft). However, the quality of office space occupied across Manchester has fallen, with grade C comprising more than half the total take-up.
The out of town office market also remained steady, with Q1 take-up totaling 203,244 sq ft (Q4 2012: 202,630 sq ft).
Although overall demand has fallen back, Q1 saw an upturn in larger agent-led lettings and enquiries between 30-50,000 sq ft, both within the city centre and out of town markets. Recent deals include 60,000 sq ft at Sunlight House to Travel Jigsaw (the largest office letting since 2011) and 22,000 sq ft at 3 Hardman Square to World Pay.
For a detailed breakdown of Q1 2013 Manchester office take-up by grade, please click here or on Chart 1 to the left of this article.