Manchester Net Stock Absorption Autumn 2008

Published: August 2008
Source/Company: Colliers CRE

Abstract:
Executive Summary
• Net Stock Absorption (NSA) was -106,384 sq ft across Manchester city centre. Year on
year though NSA was positive at 245,181 sq ft.
• Despite the rise in vacancy and Grade A availability, overall take-up figures continue
to look positive. For the second successive six month period total take-up exceeded half
a million sq ft.
• Current availability stands at its highest level for over two years at 2.0 million sq ft.
Currently there is 790,000 sq ft of ready to occupy Grade A space being marketed in
the City Core, representing 39% of total availability.
• The only negative has been the fall in take-up in the Piccadilly submarket, which has
contributed to rising vacancy in that location, now standing at 13.3% compared to
10.7% in December 2007.
• Grade A space currently represents 23% of total office stock, which is a marked rise
from a figure of 14% in June 2006. Significantly, CBD Grade A stock has risen by 65%
in the past 12 months with four schemes completing over 50,000 sq ft.