Manchester roundtable: Supply & Demand

The popularity of the new Sharp Project in east Manchester and more established Manchester Science Parks in the university district have shown how specialist product can thrive without being based in the city centre. When it comes to building on such successes how can the city fringe compete with the centre when trying to attract commercial occupiers in the future?

Chris Roberts is development director of Bruntwood, which has sites in Salford, the Oxford Road area and city centre. He said: "The key thing is to differentiate from what else is in the marketplace. In my view if we can create a slightly less dense product than the city core, that is more a business village product with more greenery and not going head-to-head with a Spinningfields we will be better placed."

Roberts added: "If you over-massed certain sites in terms of non-core city centre locations then you'll be lame ducks anyway."

Andrew Hamilton, director and head of Manchester office, BNP Paribas, was among those who thought the scale of city fringe sites allied with their closeness to central amenities made them sleeping giants. "A short walk from Piccadilly to here in New Islington or across a footbridge over the River Irwell and you're into huge development areas, which over the next ten to fifteen years are going to expand Manchester."

When it came to the timing of new commercial developments in these areas, Mike Horner, regional director of Muse Developments, the lead partner in the English Cities Fund joint venture was understandably cautious given the economic situation. "You've got to take a view as to where you think the market's at. You look at a number of things to determine when's a sensible time to go on site. You've got to look at historical rates of take-up and demand out there from enquiries, what's in the pipeline in the planning system. And you try and then tie in something such that it's going to be available at a point in time when there will be sufficient demand to eat up some of your supply. It's a difficult game because there's always another scheme you haven't really thought about."

Horner added: "Chapel Street will be seen as an extension of Spinningfields. There is scope there to produce something of similar quality but not necessarily have to achieve the record levels of rent. So that will give it quite a commercial advantage."