Manchester office space market sees return in confidence
Office properties in the south of Manchester have seen a surge in transactions, according to the Manchester Evening News.
More businesses are taking advantage of low mortgage rates and are snapping up offices in Manchester, signalling a possible return in economic confidence.
Lambert Smith Hampton say that so far in 2009 they have seen a 50% increase in freehold buyers for the office space market, when compared to the same period in 2008.
Speaking to the newspaper, David Thwaites, Lambert Smith Hampton associate director, said:
“A more positive indicator of the market has been a recent increase in freehold transactions. For the first six months of 2009, these accounted for 21% of the total take up, significantly more than the 11% recorded in 2008.”
He also adds: “Activity has been driven by the smaller end of the market, with 85% of total transactions being sub-5,000 sq ft.”