Manchester recorded a higher amount of office take-up in the past 12 months than Birmingham, Bristol, Edinburgh, Glasgow and Leeds, according to a report by Colliers CRE.
A total of 1.1m sq ft of take-up was recorded in Manchester city centre in the past 12 months, despite a rise in vacancy and Grade A availability.
Colliers' Manchester Offices Autumn 2008 report said the healthy take-up supports the assertion that rising vacancy is being driven by strong supply of new development space being brought to the market rather than any shortage of any existing demand.
Other findings in the report include:
- Occupation levels rose by 250,000 sq ft in the past 12 months
- Take-up in the core postcode areas reached over 1m sq ft
- Vacancy rate rose only marginally by 0.3%
- Grade A availability rose to 39%