Our North West Breakfast Briefing event, now in its 9th year, brought together over 220 real estate decision makers on 13th May 2014. Introduced by Tim Luckman, Director of North West Valuation Advisory, our four speakers outlined the economic and market improvements, both on a UK wide and regional basis. Key themes included Manchester's position in relation to the other big six UK regional cities and the changing dynamics of the city centre office and residential property markets.
Ben Burston, Director and Head of UK Office Research at JLL, who spoke at the event, said: "Across the country, employment in the professional, scientific and technical, and information and communications sectors is set to grow very strongly, by 15 and 13% respectively over the next five years. This will put cities with strength in these sectors at an advantage in terms of both their overall growth performance, and consequently the strength of their office market.
"Manchester is well positioned in this regard, with real strength across a broad range of business services, including media, business process outsourcing, IT and logistics. This will provide a solid base for sustainable growth and more high-skill jobs, with Manchester expected to see a more rapid expansion than the other major regional cities over the next few years."
Chris Mulcahy, Director, National Office Agency, discussed Manchester's ability to attract inward investment and the case for speculative office development.
Simon Merry, Director, Capital Markets in JLL's Manchester office looks at the key trends for the North West office investment market.
Stephen Hogg, Director, Regional Residential, in JLL's Manchester office, gives his view on the city's residential off plan market and prospects for rental growth in the city.
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Improvements in technology and infrastructure coupled with shifting social and economic patterns mean the UK's office market is undergoing rapid and profound structural change.
View the report here