Office Space Manchester > Serviced Offices

This week a major deal was confirmed in the Manchester office market.  Greater Manchester Police will take 240,000 sq ft of office space at Central Park, as reported by PropertyWeek. This comes on the back of news that Manchester city council have chosen Number One First Street as the temporary home for over 1,800 staff and that Mayfield station could be turned into the “Whitehall of the North.”

With all this activity, you would be forgiven for thinking that we were in the middle of a recession.  However, there is the underlying problem of oversupply in the market.  Because the market has been so buoyant in the last few years, several new schemes were sanctioned on the premise that demand would continue to grow each year, not legislating for a recession.  In short, Manchester has beena victim of it’s own success.  One good baramoter of the state of the market is that several local commercial agents have been shedding staff, a sure sign that the market is struggling.  Some are not so pessimistic however, Crains argue that the city has got off lightly during this recession.  Perhaps Manchester just isn’t doing as bad as other UK cities?

This entry was posted on Sunday, June 7th, 2009 at 2:16 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.