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Media and tech firms take majority of Manchester office space in Q3

Media, technology and business services firms were the most prolific acquirers of Manchester office space in 2018’s third quarter, according to research.

Colliers International’s data suggests the sectors made up 75% of the total take-up during the three-month period, with media and technology firms alone taking 63%.

The largest deal involving a media and technology firm was Booking.com’s pre-let for 225,000 sq ft of space at St John’s.

Meanwhile other substantial moves included Odeon leasing 26,500 sq ft at 8 First Street, Farm Group pre-letting 22,500 sq ft at the ABC Building and In-Touch Networks taking 22,000 sq ft at 3 Hardman Square.

According to Colliers, online giant Amazon’s recently announced decision to occupy 90,000 sq ft across six floors of the NOMA’s Hanover building reflects increasing interest in the city by national and international businesses as a strengthening development pipeline eases the shortage of available Grade A office space.

Peter Gallagher, director of national offices at the Manchester office of Colliers, says: “The exciting emergence from the ground of a number of new Grade A office developments will help to ensure Manchester regains its rightful place on a global stage by being able to offer real choice to national and international occupiers, as witnessed by the recent decision by Amazon to open its first UK corporate office outside of the capital.”

In the first half of 2018, 400,000 sq ft of new Grade A space was under construction across Manchester.

The total increased during the third quarter of the year to around 1.2 million sq ft being underway across 10 buildings including Landmark, 125 Deansgate, 11 York Street, 1 and 2 Circle Square and 1 Brazennose Street.