Manchester office revival 'gathers pace'

Office design news from Morgan Lovell

Published on 06-04-2011

New office development schemes are springing up in Manchester making 2011 one of the busiest years for new projects in recent memory, a report has shown.

According to the Drivers Jonas Deloitte Manchester Crane Survey, 11 new office construction projects are being undertaken this year, compared to just five in 2010.

Key highlights of the report include the fact that legal and financial firms are replacing the public sector as leaders in office uptake, while the city's northern fringe has emerged as a key area for development.

Adam Robson, senior surveyor from Drivers Jonas Deloitte, said: "With nothing on the horizon post-2011, large occupiers could soon be considering pre-lets."

Meanwhile, global property adviser CB Richard Ellis recently highlighted the possibility of an increase in business rates in London that could impact those occupying office space in the capital.

The study showed that occupiers have borne the brunt of a hike in costs of approximately 40 per cent since April 2010, with further increases coming from the recent increase in business rates to 20 per cent from April 1st this year.

Posted by Adrian Norman