Manchester’s appeal to a diverse base of occupiers, who are attracted to the city as a result of its strong talent pool, has not only helped in terms of establishing it further as a key location outside of London, but also boosted its office market significantly.

In fact, Savills research shows that Manchester’s office market continues to go from strength to strength, with record 2018 take-up levels of 1,750,276 sq ft, representing a 44 per cent year-on-year increase. It was also the fifth consecutive year that Manchester saw city centre take-up in excess of 1.2 million sq ft.

Manchester’s case is certainly compelling with the offer of a good quality of life, affordable housing and a diverse economy. These combined factors have supported its unique ability to retain its growing graduate base which, in turn, generates an immediate and varied pool of talent that is very appealing to a number of new and existing occupiers in the city.

Over the last few years, we have seen particularly good levels of interest from the TMT, professional, financial services and public sector markets as well as co-working providers.

In fact, Manchester has been a key city for flexible and serviced office providers looking to establish a presence outside of London with large names such as WeWork, Work Life and Central Working taking space as well as smaller independent providers.

We expect this trend to gather further momentum in Manchester throughout 2019, not only with providers driving the market by taking new space this year, but also its impact on the traditional office market.

In particular, there will be more of a focus from landlords on working to attract smaller occupiers who may otherwise consider flexible space by offering all inclusive packages by including fit out and furniture, shorter lease terms and standardised leases to speed up the legal process.

With so many different layers of activity giving it a competitive edge, Manchester will continue to grow and prosper this year and despite the potential political headwinds, we expect another strong year in terms of take-up. 

Further information 

Read more: Market Watch: Manchester Offices