Rob Brook, head of portfolio management at Patrizia UK, believes occupiers are more focused on talent than on cost. “Anyone who thinks firms are relocating to areas such as the North West for price reasons hasn’t captured what is attractive about the office market in Manchester,” he says.
I have talked numerous times about the sky-rocketing jobs market in Manchester and its inevitable impact on the real estate sector. The bigger players have already made moves to create a presence in Manchester, with large areas of Grade-A office being snapped up. However, the tech-based businesses, which were small enterprises only short years ago, are predicted to become the second wave in a north bound tide. Business is booming in London, but Manchester is creating an identity of its own.The number of construction projects and refurbs happening in the city is staggering – let’s hope that the classic Manchester weather doesn’t get in the way of timely completion…
