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Commercial property offering "excellent" returns
21/09/2007
Manchester property investors are still making a healthy profit in the city, it has been claimed.
Research by Knight Frank has found that investments in city centre offices are generating strong returns for investors, who are taking advantage of Manchester's favourable business environment.
Most of the demand for office and industrial space is coming from overseas investors and large corporations looking to set up new headquarters, the property firm said.
Abid Jaffry, head of investment at Knight Frank, said: "Commercial property continues to attract money from a variety of sources and continues to give excellent returns.
"The demand for quality office and industrial accommodation increases around main centres, such as Manchester," he said, adding that the city has also seen a rise in commercial rents.
Earlier in the week, a report by Cushman & Wakefield revealed that Manchester has overtaken Birmingham as the second-best city in the UK to do business.
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