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Commercial property in Manchester 'getting cheaper'
15/04/2009
The price of commercial property in Manchester is falling compared with other places, new figures suggest.
According to DTZ, the north-west city has seen the value of its office space fall from 48th to 64th in the firm's global league table of the most expensive business locations, Crain's Manchester Business reports.
Director of DTZ's Manchester office Ken Bishop said: "This is one league in which, in many ways, it is better not to be towards the top. At a time of recession occupancy costs are of concern to every occupier."
He added that it is good news for the future health and strength of the city that its commercial property prices have fallen in relative terms.
However, Manchester was still the third most expensive business location in the UK outside London, behind Edinburgh and Birmingham.
DTZ also predicted that office occupancy in Manchester will fall by 26.2 per cent over the course of this year.
With more than 12,500 employees across the world, DTZ is a global real estate firm.
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