City centre office take-up for Q4 2017 reached 278,073 sq ft across 57 transactions, a 55% decrease on Q4 2016 - but Q4 2017 followed exceptional activity levels in Q3.
The total take-up for 2017 was 1,208,184 sq ft across 271 transactions which is a slight decrease on 2016, but 13% above the 10 year average and in line with the 5 year average.
Notable transactions included, 13,610 sq ft to co-working company ‘Our Space’ at Fore Partnerships’ new re-development scheme Windmill Green. Manchester City Council took 20,034 sq ft at Bridgewater House. The biggest deal of the final quarter was AO taking 28,749 sq ft at Riverside.
In the out of town markets, take-up in South Manchester reached 162,736 sq ft in Q4, bringing the 2017 total to 640,948 sq ft, a 17% increase on 2016’s performance.
The combined Salford Quays and Old Trafford take-up figure for 2017 equated to 285,202 sq ft, which is a 21.7% decrease on 2016 which saw two large deals.
Warrington saw a 13.9% decrease on 2016 take up, with a total of 318,659 sq ft transacted, but is still in line with the 10 year average.