Manchester‘s office space should be relatively unaffected despite the expected public sector loss of jobs according to experts.
Experts predict the diversity of business in Manchester should ensure that the city’s commercial properties will not lie vacant even if there are major job losses.
The wide variety of private industries interested in leasing office space in Manchester should see the city stave off the worst of the government’s public service spending cuts.
These are the findings of new research carried out by property agency DTZ, who believe the city should weather the storm better than other cities in the North.
Unlike other areas, the public sector occupies only 19% of office space in Manchester which is much lower than in other cities.
A diverse range of occupants who utilise office property in the city centre should allow the North Western city to continue its growth without unduly affecting the rent of commercial property.
The report believes that the city is well positioned to attract new investment, offsetting any potential concerns raised by the possible decrease in office property if the local government does make cuts.
While Manchester itself is expected to emerge from the cuts relatively unscathed, nearby towns such as Oldham, Bolton and Preston could find themselves with a large number of public sector cuts.
Elsewhere in North West office property news, a firm in Wigan is looking for new clients to move into an one of their new office properties.
Telereal Trillium currently hold the lease to Mesnes House, a 13,000 square foot office property north of Wigan town centre. The firm have instructed Mancunian property agents GL Hearn to market the three storey commercial site.
With its close proximity to Thomas Linacre Outpatient Centre and Wigan and Leigh College, the agents are hoping to encourage bids from the healthcare industry amongst others.