£46m office interior deals carried out in Manchester

Office design news from Morgan Lovell

Published on 30-07-2009

Transactions totalling £46 million were completed on office interior space in Manchester in the first six months of 2009, new figures have shown.

A report by CB Richard Ellis revealed that ten major deals were completed during this period, the largest of which was the takeover of 53 King Street by Vision Developments for £5.75 million.

Simon Wood, director of investment at CB Richard Ellis, said: "Over £70 million was transacted in Manchester in the last month of 2008 - with buyers from both the UK and German Funds - and we fully anticipate similar activity from this type of buyer as well as cash-rich private investors through the remainder of the year."

Meanwhile, plans were recently unveiled for the creation of up to two million sq ft of new modern office design space in the City of Salford as part of the regeneration of the area.

The work has been proposed by the Central Salford Urban Regeneration Company, which has earmarked £650 million to regenerate 17 hectares of property in the city.