MOAF - Manchester Office Market - Q3 2018
Annual office take-up in the city centre area is expected to hit 1.5m sq ft for the first time on record, after the third quarter of 2018 saw 480,000 sq ft change hands.
Lettings have already surpassed 2017’s final figure of 1.21m sq ft, reaching 1.25m sq ft after a busy quarter in which the largest deal was Booking.com’s pre-let of 225,000 sq ft at Allied London’s Manchester Goods Yard.
Booking.com will use the Enterprise City location as a campus for its Rentalcars division following what was Manchester’s largest deal for more than a decade.
The South Manchester market – which covers parts of north Cheshire, Manchester Airport and Didsbury – is also expected to celebrate a record-breaking year, as the formal completion of Royal London's deal at Alderley Park, accounting for around 140,000 sq ft, puts that market on course for its strongest year in a decade.
The figures don’t include THG’s commitment, announced in September, to building out a 1m sq ft campus at Airport City.
This research is compiled by MOAF (Manchester Office Agent's Forum). Formed in 2009, MOAF members include Avison Young, BE Group, CBRE, Colliers International, Canning O’Neill, Cushman & Wakefield, Edwards & Co, GVA, Hallams Property Consultants, JLL, Knight Frank, LSH, Matthews & Goodman, OBI Property, Savills, Sixteen Real Estate, and TSG Property Consultants.