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City centre Manchester properties see new take-up

08/07/2009


Commercial properties in Manchester city centre saw an increased take-up of over 90,000 sq ft during the second quarter of this year, it has been revealed.

Crain's Manchester Business cites CoStar figures which reveal that 68 per cent of the space taken by firms was either new or refurbished.

The statistics do not take into account the recent deal between Ask Developments and Manchester city council under which 140,000 sq ft of commercial property were taken.

According to CoStar, 4.2 million sq ft of space is still available in the city, nearly a fifth of which is either under construction or being refurbished.

In addition, around 54,720 sq ft of new space arrived on the market to June, over three-quarters of which was second-hand.

A provider of information services to commercial real estate professionals, CoStar is headquartered in the US and has around 1,300 employees. It claims to have a database of more than two million properties.
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