Commercial investment rises in Manchester

Office transactions in the UK’s third largest city increased by eight per cent in the first half of 2016 compared to the same period last year with Manchester becoming a key focus for commercial property investors. Transaction volumes in Manchester’s office investment market totalled £304 million in the first six months of the year, some three per cent higher than the five year first half average of £295 million, according to international real estate advisor Savills. Going ahead, the firm’s latest Manchester Office Market Report says that overseas investors showed particularly strong demand for the city’s office assets, accounting for 70 per cent of all transactions with deals worth £212 million.