Take-up in the Greater Manchester office market totalled 758,263 sq ft in Q2 2014, a 78% increase on the 425,420 sq ft recorded in Q1.
Substantially refurbished stock continues to dominate market activity with grade A accounting for just 29% of total take-up in Q2. This is due to the acute shortage of prime available stock.
Activity in the city centre was up 55% on the previous quarter. The largest transaction to take place was at 58 Mosley Street, with Slater Gordon taking 104,312 sq ft of space.
Following an initial slow start to the year, the out of town market witnessed a substantial increase in activity, with take-up totalling 270,624 sq ft, compared to 111,546 sq ft in Q1. Small scale requirements continue to dominate with only three deals over 10,000 sq ft taking place.
For a detailed breakdown of Q2 2014 take-up by grade, please click here or on Chart 1 to the left of this article.