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Market Update

Manchester Offices - Q1 2013

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Manchester Offices - 1Q 2013

Take-up got off to a healthy start in 2013, amounting to 274,000 sq ft in Q1 – against a quarterly average of 197,066 sq ft for 2012, albeit down 7.8% on Q4 2012.

Prime headline rents stood at £30.00 per sq ft, unchanged over the quarter and net effective rents were also unchanged at £23.50 per sq ft.

The availability of grade A space remained at 370,000 sq ft over the quarter. This means that availability is now more than 13% down on Q1 2012.

The vacancy rates has edged down to reach 11.2% in March. This compares favourably with other regional cities, some of which have vacancy rates of 12-16%

Source : Knight Frank

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