Serviced Office Market Overview for Manchester - September 2010

Serviced offices in Manchester city centre are currently filling up at a very healthy

rate with occupancy rates rising across the board since the start of 2010. Small offices in particular have been in high demand with lowest rates for a 2 person office now heading towards 400 per month, up from around 300 just 9 months ago.

There have been fewer larger office requirements in the market so there are still very competitive rates to be had for those looking for office space for 6 workstations or more, but we would expect rates to increase towards the end of the year.

Demand has been particularly high in the up and coming area of the Northern Quarter, now a firm favourite with design and media companies. However, space is at a premium so you're unlikely to find offices on a budget here and may wish to expand the search to include office space in Ancoats, which is an area still on the way up.

Salford Quays is an area that still has some way to go to reach the peak rates of 500 per workstation they were achieving in 2007. Standard rates across the board are somewhat low, which does mean there are good deals to be had for occupiers at the moment.

However, the subdued rates will not last long in to 2011 when the BBC move will increase demand for offices close to MediaCityUK. A few companies have already started to make a move in to the area to get a jump on the competition, including Ralli earlier this month.

In South Manchester the market has remained pretty strong for serviced offices over the last few years with little in the way of discounting. Prices therefore for offices in Cheadle, Didsbury, and Cheshire generally have held up and those expecting great deals are likely to be dissappointed. Indeed, Blackbox on Beech Lane in Wilmslow is now fully let having been less than 60 per cent occupied at the start of the year.

The North Manchester market, particularly for serviced offices in Bury has held up well. However, further in to Lancashire, the office markets in Burnley and Blackburn are still somewhat depressed.

Serviced Office Market Overview for Manchester - September 2010

By: John Nash

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