Greater Manchester with a population of 2.7 million is very much the UK's second commercial city. There are 93,000 businesses, of which 75,000 employ less than 10 people. Accountants KPMG ranked Manchester as Europe's most competitive business city. The city is well served by motorways, the rail network and the UK's third largest international airport.
Manchester Office Property
Manchesters old Industrial buildings have provided the perfect raw material with which to combine an ultra modern look with a traditional past to give the city a unique personality. Over the past 15 years the city has changed out of all perspective. Gone are the old, run down or abandoned mills and factories. These have been redeveloped into super trendy warehouse offices and living apartments incorporating a classy look of steel and glass. The Manchester office market is now second only to London in the UK for volume.
Commercial areas of Manchester
- Central Manchester & Castlefields is focused around a canal system, where goods were brought to be unloaded in to warehouses surrounding this junction. Today they have been converted into living accommodation and office space providing a picturesque setting for offices accommodating companies mainly in media and IT. Headline rents in Grade A buildings are £29.50psf but effective rents with incentives work out to £23psf. Available Grade A space at Belvedere and Chancery Place is diminishing as demand has picked up in the City market and the new speculative development 1 St. Peter's Square may not bring enough space into the pipeline.
- Salford Quays, - Manchester 's answer to Canary Warf with it’s a waterside business complex. The big news here is the creation of Media City, the purposebuilt environment for the creative industries in which is anchored by the BBC with over 60 other media companies, served by the tram network to central Manchester.
- South Manchester and Old Trafford. The South Manchester market, which extends to Cheadle and Stockport, has been very active in recent years. Properties located on business parks are the norm, and those close to the airport are the most in demand. Availability of Grade A space is now constrained.
Industrial property in Greater Manchester ranges from industrial break up opportunities to purpose built speculatively developed estates and business parks. Prime industrial rents at Trafford Park come in at £6psf., which is the top of the market but good second hand space is available from £2.50psf.
Property Development in Manchester
Central Manchester has two major development schemes that are in train:
- Greengate Embankment — a joint development between Ask Developments and Network Rail — is situated along the banks of the River Irwell where the two cities meet, revitalising an area of Salford that is literally a stone's throw away from the retail heart of Manchester city centre. The extensive regeneration of this long-neglected and underused site, which includes Manchester's old Exchange Railway Station, will turn it into a new residential, retail and business destination.
- Sited beside Victoria Station, NOMA53 will transform 20 acres of Manchester city centre’s heartland into a development like no other, combining a £100 million new head office for the Co-operative Group at 1 Angel Square as phase 1, later phases comprise Offices, shops, hotels and homes: a development pipeline at varied price points, linked by a commitment to the highest quality of design and environmental performance.
Greater Manchester has a £650 million development called “Airport City” includes new offices, industrial units, hotels, retail and leisure facilities aimed at businesses which need close access to an international airport. Airport City is also the focal point of the Enterprise Zone for Greater Manchester.
Manchester Retail Property
Retail in central Manchester is dominated by the revamped Arndale Centre, and traditional high street shops in the Piccadilly and Deansgate, while in the Greater Manchester area a series of District Centres supply day to day needs, comparison and destination shoppers use the Trafford Centre, the Manchester Fort/ Queens Road Retail Park, and specialist Lowry Outlet Mall. The Trafford Centre dominates the outer Manchester market with 30 million visitors a year to the 160 stores and 30 restaurants, the addition of the adjacent Trafford QuaysLeisure village has increased the leisure offer at the site. The Arndale Centre is the third largest shopping centre in Europe with 1.6 million sq ft , 220 shops and tops the Trafford Centre for visitors at 41 million. Headline rents in prime retail locations in Manchester are similar to Birmingham, Leeds and Edinburgh at around £250psf.
Leisure and Hospitality Property in Manchester
With a major international airport and a vibrant city, with it's MEN Arena and Manchester Central attracting confrences and visitors to the area, Manchester is the third most visited city in the UK. To supply their needs, Manchester has 71 graded hotels with about 9,500 rooms. It also has many serviced apartments as a legacy of the apartment building boom, and a host of guest houses.
We aim to list the full range of commercial property available to rent or to buy in Manchester on UKBusinessProperty.
We aim to offer a range of commercial property listings which include any possible businesses for sale in Manchester. So why delay, have a look at our commercial property listings in Manchester and possible find a new home for your business.
You may want to consider some of the following points as you carry out your search for commercial property in Manchester. If you are planning on buying a commercial property you should be careful to factor in the significant purchase costs which are associated, such and stamp duty and legal fees which will have an instant impact on cash flow. Thinking about these couple of points as you search through the property listings on UKBusinessProperty may help you choose the best possible property for you to rent or buy.