Spotlight on Manchester’s 2024 office completions
Office deliveries in the city reach a three-year high
Manchester office developments have boomed in recent years, with an average of more than 700,000 square feet delivered annually over the past five years. A burst of lettings on new...
Office construction across the Big Six slumps to a 13-year low
New build pipeline varies widely across cities
Despite robust demand for new office space, lender caution around speculative projects coupled with squeezed developer margins has driven construction activity across the Big Six r...
UK retail construction orders hit new record low
High-end retail, discounters and mixed-use schemes lead the modest activity
Retail construction orders hit a new record low during the third quarter, according to the latest data from the Office for National Statistics.
Which are the UK’s fastest-growing industrial markets?
Some markets have grown by as much as 20% since 2019
More than 250 million square feet of industrial space has been built across the UK over the past five years as the retail landscape has changed and new industries have emerged. But...
Retail investment hits 10-year high in Staffordshire
Retail parks account for two-thirds of volumes
While retail investment has struggled to gain traction in many markets this year, volumes in Staffordshire have already hit a 10-year high. Bolstered by the sale of defensive asset...
Big Six office investment topped by Manchester in the third quarter
Largest transactions in Scotland for the second quarter in succession
Manchester led office investment volumes during the third quarter across the key regional markets. The city accounted for a third of volumes and, along with Edinburgh and Glasgow, ...
Which are the UK’s fastest-growing office submarkets?
Some submarkets have increased by over a quarter since 2019
While the office market has been adjusting to hybrid working, development completions have remained strong as occupiers continue to demand new space. Some submarkets have seen comp...
Into the spotlight: Manchester’s Northern Fringe submarket goes centre stage
BNY Mellon deal continues success of Manchester’s fastest-growing office district
Following Bank of New York Mellon’s letting of NOMA’s 200,000-square-foot 4 Angel Square in Manchester in September, the UK’s largest regional office deal in three years, CoStar lo...
Record year for industrial investment forged in Sheffield
Two large portfolio deals bolster investment volumes
While many industrial investment markets have stalled from their pandemic highs, the Sheffield Core submarket has reached record numbers already this year. Bolstered two portfolio ...
Spotlight on Leeds offices: 10 key trends
Vacancy rate stabilises amid strong rent growth prospects for the best space
Leeds' sizeable financial and professional services sector, coupled with its growing reputation as a tech and media hub, has supported demand for office space in recent years. A ri...
Bullseye: Manchester office investors zone in on the City Core
Investment volumes are low but increasing occupier activity should generate momentum
Investors in the Manchester office market have zoned in on the city core this year. Activity in 2024 has been dominated by mid-sized, centrally located assets below £20 million. So...
Public service sector hardest hit across the Big Six since the pandemic
Education and coworking sectors hold up the best for office leasing
The public sector's regional office leasing volume has been the hardest hit sector since the pandemic started in March 2020, falling by 60% compared to the same time frame before t...
Education sector has tripled its share of Big Six office leasing since 2022
Global Banking School leads surge in education office lettings
The education sector has tripled its share of office leasing across the regional office markets over the past three years. At a time when overall office leasing has fallen, its sha...
Where Are Manchester’s Emerging Industrial Development Hotspots?
Urban Logistics Leads Activity as It Competes With Residential
Greater Manchester has witnessed less of a slowdown in industrial development than most of CoStar's 54 markets.
Bruntwood Makes First Move in Central Manchester’s Key Regeneration Area
Demolition Works Begin at Alberton House in St Mary’s Parsonage
Bruntwood SciTech has become the first developer to start construction in one of Manchester’s core city centre regeneration areas, St Mary’s Parsonage, where several other redevelo...
St Helens' Annual Investment Record Kicked Into Touch in First Half of 2024
Adjacent Submarkets of Warrington and Halton Form a North West Hotspot
Industrial investment in St Helens hit its highest annual total within the first six months of 2024, bolstered by the sale of two units for over £50 million each. This brings the y...
When Does Office Obsolescence Start to Set In?
Net Demand Turns Negative in Buildings More Than 10 Years Old
The demand for offices since the pandemic has strongly favoured new buildings, as occupiers have by-and-large taken less but better space. While this has encouraged the development...
Scottish Markets Are a Bright Spot in Weak Quarter for Big Six Office Investment
Investment Dominated by City Centre Activity in the Second Quarter
Investment volumes across the Big Six regional office markets of Birmingham, Bristol, Edinburgh, Glasgow, Manchester, and Leeds amounted to £142 million in the second quarter. Teis...
Big Box Deals Boost Derby Investment to Five-Year High
Three 500,000-Square-Foot Units With M1 Access Bolster Activity
Derby industrial investment hit a five-year high in the first half of 2024, bolstered by the sale of three 500,000-square-foot units for between £46 million and £55 million each. T...
Flexible Workspace Leasing Surges In Manchester
Cubo, Gilbanks And Koba Sign Large Grade A Lettings
Flexible workspace take-up in Manchester surged to its highest level in over three years during the second quarter of 2024, as the sector accounted for three of the largest letting...