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Manchester's commercial property market 'to thrive'
08/05/2009
The commercial property market in Manchester is to thrive as a result of the ongoing recession, it has been claimed.
According to property consultancy Lambert Smith Hampton (LSH), there will be an influx of firms looking to relocate to the northern city from London and the south-east in order to save costs.
The firm's Mark Bamber said that businesses will increasingly turn to Manchester as a way of reducing their operating costs.
He added that many back office functions can be serviced at significantly lower costs by using staff who are based out of the capital.
In addition, there is talk of a number of major US financial institutions turning to cities such as Manchester during the economic downturn.
He pointed out that Manchester is well served by road, air and rail and has a skilled labour pool to draw from.
Providing a range of commercial property services, LSH operates a network of offices across the UK and Ireland.
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