City centre office take-up for Q3 2017 reached 447,809 sq ft across 78 transactions, a 69% increase on 2016’s Q3 performance. This brings the total so far in 2017 to 938,645 sq ft a 6.4% increase on the same period in 2016.
The biggest Q3 transactions were the Department for Working Pensions taking 77,449 sq ft at Two St Peter’s Square. Law firm Clyde & Co took 69,000 sq ft at Manchester Royal Exchange and coworking giant ‘We Work’ took 44,000 sq ft at One St Peters Square.
Small scale requirements (below 5,000 sq ft) accounted for 82% of the 60 transactions in Q3 indicating a continued high demand from the SME sector
South Manchester’s Q3 total was 140,531 sq ft, a 23% increase on the same quarter during 2016.
The combined Salford Quays and Old Trafford Q3 take-up was 112,410 sq ft, a 25% increase on the same period in 2016.
The largest Q3 out of town letting was Kelloggs taking 48,120 sq ft at the Orange Building in Peels Media City.