The Central Business District (CBD) returned to the top of the most active market in Q1, with 70,987 sq ft transacted.
There is a clear increased demand for high quality space from occupiers of all sizes, Across 27 deals, over a third (36%) were in the £20.00+ per sq ft rental bracket. Twelve months ago, just nine transactions were in the same bracket.
Undoubtedly the 10 transactions outside the CBD which completed within the £18.00 - £19.99 per sq ft bracket, would be achieving higher rental figures if they were situated within this district.
Whilst the forthcoming snap general election may have a short term impact on the office market in Q2, this will only be for a limited period. Manchester’s office market has shown resilience throughout 2016’s political events and this will continue throughout 2017.