While Manchester city centre experienced relatively no growth, business was more bouyant among the south Manchester market as figures reveal that office deals out performed the previous year.
The Manchester Office Agents Forum said property transactions on business parks in south Manchester, including Cheadle, Stockport totalled 660,829 sq ft in 2012, up 36 per cent on 2011.
In contrast, the city centre saw deals totalling 788,265 sq ft in 2012, little changed from 2011.
Take-up in the Stockport area helped boost overall figures as the Blemain Group acquired 50,000 sq ft of freehold property at Cheadle Royal Business Park.
Emma Powell, of OBI Property said:
“2012 proved a really positive year in light of the continuing tough market conditions in respect of the office market throughout the Manchester region.
“When considering the lack of large transactions in the city centre, the fact that take-up reached such a positive level of close to 800,000 sq ft is testament to the resilience and strength of the local economy.
“We are seeing signs of inward investment to the region increasing during the next 12 months and this will further enhance the performance of the region’s property market.”