BT’s 175,000 sq ft letting at English Cities Fund's Four New Bailey saw office take-up for the final quarter of 2020 hit 350,000 sq ft, taking the total for the year to 800,000 sq ft, the first time total annual transactions in the city centre have dropped below 1m sq ft since 2013.
The listed developer, which has begun a 12-month review to cut costs, is eyeing two further regeneration opportunities in the city to expand its activities beyond the Mayfield scheme, according to its chief executive.
The Manchester leisure centre on Oxford Road is to undergo an extensive refurbishment over the next two years to improve facilities and reduce its carbon footprint, according to plans from the city council.
Post-Covid recovery in the region’s two biggest cities will be driven by Manchester’s economic expansion over the past five years and buoyant build-to-rent sector, and Liverpool’s busy port and associated industries, as well as momentum in life sciences, Avison Young said.
The Greater Manchester Local Enterprise Partnership and the city’s Growth Company have pledged to provide support and advice to local businesses as the UK announced its Brexit deal with the European Union today.
Cashflow issues stemming from a contract dispute at the end of 2019, compounded by the impact of the Covid-19 pandemic, resulted in the Manchester-based construction firm appointing FRP Advisory as administrators last month.