During Q3 a total of 432,000 sq ft of office accommodation was let in 51 deals in Manchester City Centre, which was an increase from 332,000 sq ft that occurred during Q2.
The increase of 100,000 sq ft was predominantly due to the BNY Mellon (196,000 sq ft) and ARM 69,000 sq ft) transactions that accounted for 256,000 sq ft of space in the quarter.
To date in Q3, 944,000 sq ft of office space has been taken up in Manchester during 2024.
The final quarter of the year has also seen a positive start with the likes of Channel 4 taking 12,200 sq ft at St Micheal’s and Virgin Media O2 has committed to 100,000 sq ft of space at HBD and GMPF’s Island scheme on John Dalton Street.
The office market in Manchester has demonstrated a robust performance to date and the evidence of larger footprint transactions is encouraging.
The letting to BNY Mellon at 4 Angel Square is the largest regional ‘big six’ letting recorded over the last four years and highlights the attraction and pull of Manchester as a city to corporate occupiers wanting to consolidate and expand their presence in the City.
South Manchester
The South Manchester market witnessed a take up of 81,910 sq ft over 59 deals during Q3 which was a slight increase on the Q2 figure. The Q3 figure brings the take up to date to 254,021 sq ft for 2024.
The South Manchester market has been consistent throughout the year with levels and number of transactions being similar each quarter.
Salford Quays and Trafford
The office market in Salford Quays and Trafford demonstrated a take up 35,134 sq ft during Q3 across 15 deals, which has brough the take up for the year to date to 118,479 sq ft. The largest deal during the quarter was the letting to Let Property Sales Ltd at Laser House in Salford Quays who committed to 5,818 sq ft.
