Our fourth annual edition of the Northern Powerhouse Office Market Report shows that despite Brexit-related uncertainty, 2018 is set to be a record year for the region’s eight core office markets.
Occupier take-up is forecast to reach 5.7 million sq ft; 13% above the 2015 peak and 37% above the 10-year average. Unlike previous years, there has been a real depth to activity, with all of the markets performing in-line with or surpassing their 10-year averages.
Investment appetite has also showed no signs of slowing, with £1.4 billion of property transacted so far in 2018 and the highest quarterly number of deals recorded since the credit crunch.
Key themes also highlighted in this year's report include:
- Workplace technology
- Skills focus
- Well buildings