Commercial Property remains strong in Manchester

[Mindy]

Its been reported in the Manchester Evening News, the city''s property market is sturdy enough to weather a slump in the economy and office space in Manchester remains at a premium.

Property development finance is likely to continue to flow into the city and a new report predicts that Manchester is one of the five regional centres in Britain that is most likely to see a sharp increase in the level of new speculatively-built office space coming onto the market in 2008.

A recent study by Lambert Smith Hampton (LSH) suggests that occupier-demand will be affected by the current economic downturn, but Manchester and four other cities will be responsible for half of the total new office space built this year in Britain.

"A group of leading businesses in Manchester, including commercial property consultancy LSH, has voiced its support for the proposed congestion charge for the city centre, claiming that it could benefit firms by reducing congestion and delivering public transport infrastructure improvements