Shortage of Grade A Office Space set to spark increase in South Manchester pre-let activity

Posted on 22 March, 2015 by Chris Grigorovsky

An annual marketing review by Cheadle Royal Business Park has revealed that the lack of Grade A office space available in South Manchester will result in an increase in pre-let activity.

transparent glass wall of office building

The amount of new office space in the region over 10,000 sq ft has been reduced significantly. For a few years pre-let activity has been minimal, but it is now expected to increase going forward this year and into 2016.

Cheadle Royal Business Park has urged businesses with impending lease events over the next three years to take into consideration the possibility of pre-let activity, to ensure property needs are met.

Development surveyor at Muse Developments and the developer behind Cheadle Royal Business Park, Greg Ball, said: “Our recent market review has clearly unearthed a lack in availability of Grade A properties throughout the region, particularly in the South of Manchester.

“Although the pre-let market has been challenging over the past couple of years, the upward trend in take-up of office space in 2014 reflects the strengthening economy and increase in confidence”.

It was reported that a total of 574,700 sq ft of office space was taken up in 2014 in the South of Manchester.

The reduction in supply of quality refurbished Grade A office space will become more noticeable in 2015 as confidence in the market grows.

Mr Ball added: “Occupier confidence is growing again and we expect greater levels of investment designated to pre-let activity”.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants