City centre take-up fell to 194,000 sq ft in Q2, composed almost entirely of grade B deals. The largest transaction of the quarter was for 19,000 sq ft to BPP at Bruntwood’s St James’ Buildings. The only grade A deal of the quarter was to Ozon Solicitors at Vantage Point.
There was a fairly even spread of business sector transactions in Q2 and most deals were for less than 5,000 sq ft. However average deal size should rise as pre-lets are signed over the next several years ahead of a set of large lease expiries at Barbirolli Square in 2017. The major live requirement set to mature into a deal in 2013 is for 80,000 sq ft from Barclays Bank. The firm is currently at the shortlist stage and looking to consolidate from existing buildings across Manchester.
Source : DTZ (Groupe UGL)