A total of 20 transactions were signed for city centre offices in Manchester in the second quarter of the year, down from 58 in the previous three months, but fringe markets in Salford and Trafford were more resilient recording an increase in take-up.
Addisol Endless Resources has taken 4,700 sq ft on a five-year lease at the industrial complex, part of Kingsway Business Park, as it increases production of personal protective equipment during the pandemic.
The city council has included more than 60 priority projects in a huge pitch for Government funding, with council leader Sir Richard Leese calling on Whitehall to increase the budget that Boris Johnson set last week.
Boris Johnson has pledged £5bn for UK infrastructure, including unlocking the central Manchester rail bottleneck, as well as schools, hospitals and other 'shovel-ready' projects, to help Britain bounce back from the “economic reverberations” of Covid-19.
Investor the Peel Group, which sold the Trafford Centre to the company now known as Intu Properties in 2011 and remains its largest shareholder, said Intu’s collapse will have no bearing on its own financial position.
The shopping centres owned by Intu Properties, including its flagship mall in Trafford, will remain open despite administrators being appointed last week, but a sale of some or all the assets remains on the cards.
The 24,000 sq ft centre of excellence for intelligent automation and robotics, designed by 5plus Architects, has been granted £6.5m from the European Regional Development Fund and construction is due to start in September.
The struggling shopping centre owner has appointed KMPG as administrator after it said talks with creditors had reached "insufficient alignment and agreement".
After months of uncertainty, Boris Johnson yesterday confirmed an end to the sector’s enforced “hibernation” by announcing bars, restaurants and hotels can reopen from 4 July, but hospitality professionals are wary despite this positive step.
Ashley Hotels, which bought the property for £900,000 in 2017 and planned to extend and refurbish it, has opted to sell the asset after a rethink.
