Manchester Office Market: What to Expect Right Now
Looking for offices in Manchester? The city centre continues to offer a wide selection of office space and some great value rental rates. We take a look at the Manchester office market and what you can expect right now.
Rental rates remain competitive
At ┬ú216, rental rates for Manchester city centre are considerably lower than the National average across the UK (┬ú309). It also remains competitive when compared with other UK cities such as Birmingham where average rents were ┬ú229 and Leeds where average rents were ┬ú242 for the same period.
Considering ManchesterΓÇÖs strong economic position and the opportunities presented by its extensive regeneration plans, Manchester office space offers excellent value.
Widest range of options outside London
With forty-six locations providing flexible and serviced office space, Manchester offers by far the largest selection of office space of any UK major city outside London.
As a comparison, the second largest selection is found in Birmingham, which currently has thirty-one flexible and serviced office locations.
The big city for big business
Manchester saw a 5% increase in the amount of physical space taken in the opening six months of 2013 compared with 2012. However, overall fewer businesses took space during this period, suggesting that Manchester is seeing larger businesses taking serviced office space.
For many, this means large, modern office blocks ΓÇô something which Manchester does very well. Take these
offices in Deansgate in M3, which offer impressive corporate space along with a selection of large meeting rooms.
Spinningfields: The Canary Wharf of the North West
A key area for corporate space is Spinningfields in the M3 postcode area. Described as ManchesterΓÇÖs answer to Canary Wharf, this is a relatively new business district, designed to cater for the financial and professional services industries.
A number of high-profile organisations are already based here, including Deloitte, Grant Thornton and BDO. Media giant MediaCom has also recently announced a pre-let on office space in this area.
Striking contemporary architecture and high-spec offices are typical of this area, such as this business centre on Hardman Street which has an impressive atrium and smart, modern office space.
Impressive period properties available too
But itΓÇÖs not just modern office blocks on offer ΓÇô Manchester also has a selection of large period properties.
This recently opened business centre on King Street gives businesses the chance to set up a base in this impressive nineteenth-century building at the heart of the city. And while the exterior might be historic, the inside is thoroughly modern, offering clean, contemporary office space along with a roof terrace and some striking views.
Plenty of space for smaller businesses
ThereΓÇÖs plenty of space for small businesses and startups too, like this business centre on Brown Street.
It has office suites containing from three to twenty workstations, giving small businesses the prestige of a smart city centre location, plus all the facilities, without having to rent large areas of space.
Want to find out more about any of these business centres? To find out about availability, pricing and tour, speak to our team on 0203 305 9434.