'Drop in demand' for office space

Office design news from Morgan Lovell

Published on 18-01-2012

The Manchester Office Agents’ Forum has revealed that 2011 saw its city centre market struggle for take up.

Demand for office space in the city centre dropped to 700,000 sq ft, a steep fall from 2010’s 1,300,000 sq ft.

The drop could have been even steeper if it was not for the 63,000 sq ft pre-let agreed with KPMG.

Manchester was not alone in reporting difficult trading conditions, as London seemed to be the exception to the rule by being the only city to hold up.

And it was not just the Manchester Office Agents’ Forum that reported a fall in demand for office space in the north west, as in its latest UK Commercial Market Survey the Royal Institution of Chartered Surveyors revealed an increased availability of commercial property to rent in the region due to falling occupier demand.

Copyright Press Association 2012