City centre office take-up for Q2 2017 reached 284,497 sq ft across 68 transactions, a 23.3% increase on the same quarter in 2016.During the first half of the year it reached 492,730 sq ft, an increase of 14.6% on the previous year.
Notable transactions during Q2 included, co-working giant We Work taking 55,802 sq ft at No.1 Spinningfields reflecting the ongoing demand for co-working space in Manchester. Weightmans took 17,949 sq ft at the same building.
Small scale requirements (space sized below 5,000 sq ft) show no sign of reducing in demand with them accounting for 82% of the 68 transactions completed in Q2.
South Manchester’s take-up during Q2 increased by 19.5% (192,483 sq ft) on the same period last year.
The combined Salford Quays and Old Trafford take-up for H1 was 84,318 sq ft, a 25.9% decrease on H1 2016. The largest letting, 21,132 sq ft at Regents Place, Salford, was achieved by LSH.
LSH also secured the largest office deal this year outside of the city centre by acquiring 47,149 sq ft at 106 Dalton Avenue at Patrizia UK’s Birchwood Park, Warrington for Cavendish Nuclear.