Business parks 'yet to catch on to commercial property recovery'

Office design news from Morgan Lovell

Published on 25-02-2010

Business parks in the north-west are taking longer to show signs of recovery than the rest of the commercial property sector, a new report has highlighted.

A study by GVA Grimley showed the business park office interior market is taking slightly longer than other sectors to see an upturn in demand. However, that demand is still there and it is likely the coming months will see the market pick up considerably.

Simon Reynolds, head of offices at the Manchester office of GVA Grimley, commented: "The business parks market looks set to gradually strengthen in the short term - and looking to the long term, a number of factors indicate that the market will continue to build and improve."

Elsewhere, the 2009 Office Market Review from CB Richard Ellis recently showed Manchester was one of the best cities for office uptake last year.

It revealed demand for office space had been "robust" and the city saw 830,000 sq ft of office lettings throughout the year.

Posted by Ian Johnson.