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Manchester's industrial property market 'recovering'

22/06/2009


The industrial property market in Manchester is showing signs of recovery, it has been claimed.

According to Tom Davis, senior director at the Manchester office of CB Richard Ellis, activity is returning to the sector, Crain's Manchester Business reports.

He said: "There is some sensible activity returning. Lots of the bigger enquiries that have been dormant for the last year to 18 months have been resurrected. I think we could see 1.5 million sq ft of deals done in the next six to nine months."

Mr Davis added that there is also a backlog of enquiries from large firms which think that the UK is currently very close to the bottom of the market, meaning there are good deals around.

According to the expert, now is a good time to buy.

He went on to say that he expects his firm to see more than two million sq ft of industrial property filled this year.

With operations in more than 50 countries, CB Richard Ellis is a commercial real estate advisor.
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