MOAF: Q1 shows encouraging start to year

City centre office take-up during the first quarter of 2012 was 169,891 sq ft, compared to 126,521 sq ft in the same period last year, according to Manchester Office Agents Forum.

Take-up in South Manchester was 135,832 sq ft, up from 87,094 in Q1 2011. Salford Quays and Old Trafford saw 51,886 sq ft of take-up, nearly double the volume at the same time last year.

The most notable city centre transactions since January were QBE's acquisition of 6,820 sq ft at Chancery Place, three lettings to Amey, Hempsons and Heys at Bruntwood's City Tower, a total of 40,000 sq ft, and 5,500 sq ft at 86 Deansgate taken by Help Your Claim.

In South Manchester, Jacobs and Wellspun accounted for 25,000 sq ft at Orbit's Park Square in Cheadle, and Aecom acquired 16,137 sq ft at Parkfield House, Altrincham.

Alex Russell, associate director of office agency at CBRE, said: "The take-up figures for Q1 2012 reveal an extremely positive start to the year – viewings and enquiries are up on the same period in 2011 and we are confident that demand will remain strong throughout the rest of the year, most likely exceeding total take-up figures for 2011."

  • Manchester City Centre: 167,891 sq ft
  • South Manchester: 135,832
  • Salford Quays: 11,318
  • Old Trafford 40,559
  • Total: 355,600

MOAF members include CBRE, Canning O'Neill, Colliers International, Cushman & Wakefield, DTZ, Drivers Jonas Deloitte, Edwards & Co, GVA, Jones Lang LaSalle, Knight Frank, Lambert Smith Hampton, P3 Property Consultants, Savills and WHR.

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