Commercial Property Market in Manchester
Manchester is one of the largest cities in Britain, and contains a lengthy industrial heritage. In a short distance in the city centre can be a population that could reach over Two million people and it is an easy drive to a few large cities including Leeds, Liverpool and Sheffield.
The commercial property market in Manchester offers a variety of properties located through the entire city. Whatever type and size of premises you need on your business, you will discover it within the Manchester area.
The state the market industry
Until recently, there is a building boom in the commercial property market in Manchester, and a lot of new properties came onto the market. Between 1996 and 2008, the sector attracted the average use up of 840,000 square foot of work place annually. Nationally, and locally, 2008 and 2009 saw a clear, crisp downturn in property take-up, but this changed to a steady recovery throughout 2010.
Financial institutions are less happy to lend money compared to what they were previously and companies are finding it nearly impossible to find the main city for new premises. Also, many investors discover that they no longer possess the spare capital to construct new properties. Caused by this can be a large number of newly built properties are still on the market or lease, and also the rate is slowly decreasing as owners struggle to attract new tenants.
Recent forecasts claim that this example is likely to remain the same for an additional 12 to Eighteen months before recovery is more strongly established.
Areas of Manchester
Manchester is a large and vibrant city with many different commercial opportunities. The city centre has lots of great retail and office properties, with more opportunities in the restaurant and entertainment sectors. Towards the west is the sprawling Trafford Park, creation largest industrial park on the planet, which offers plenty of larger properties to the manufacturing or logistics industries. The Trafford Centre is among the largest and busiest shopping malls in Europe and is also a fantastic option for retail ventures.
The varying suburbs of Manchester offer entrepreneurs business possibilities, ranging from exclusive designer shops and boutique foods to small local shops and office premises. For technology businesses, Manchester also provides specialized high technology and science parks within Manchester, and associated with the University of Manchester, and also at nearby Daresbury.
Manchester Airport Enterprise Zone
Manchester Airport recently become the site of one of 21 new Enterprise Zones in england. These zones are built to stimulate economic growth and job creation by providing:
. Super-fast broadband
. Full discount on business rates approximately ?275,000pa for 5yrs
. Enhanced capital allowance for manufacturers
. Reduced planning restrictions
This package will assist you to attract home based business in to the area and will provide a necessary boost to the commercial property market in Manchester.
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