Manchester lettings fall 2% in 2008

Office design news from Morgan Lovell

Published on 08-01-2009

The total number of office interior lettings in Manchester is thought to have fallen by two per cent in comparison to figures from 2007.

Office industry news source Choregus has reported that around 950,000 sq ft of office space was let during the course of 2008, with office take up down 13 per cent in the third and fourth quarters of last year.

However, grade A office lettings rose by 60 per cent between the first half of 2008 and the second half, buoying the city's letting figures considerably.

Stephanie Mullenger, from local office agents Colliers CRE, commented that the "absorption of premium office space in Manchester was critical to the performance of the occupational market in the city".

Elsewhere in the region, LDP Business recently reported that the number of new developments in the Merseyside area has fallen by 40 per cent in the last 12 months, with a total investment in the area of £700 million.