Call to adapt buildings to attract growing businesses

MANCHESTER needs to adapt the type of business property it has on offer if it is to attract the next wave of global, high-growth occupiers, a new report claims.

In-depth analysis by property consultants Knight Frank has found that strong sub-sectors such as advanced materials, life sciences, energy and environmental services, advanced manufacturing and media, marketing and entertainment are being ignored by developers. This, the report argues, risks underplaying the depth and vitality of the city’s current tech sector.

The study found that in the five years to 2017, IT and telecoms occupiers accounted for 144 deals, taking 700,000 sq ft of space.

However, if you broaden the definition to include the five key sub-categories, the number of deals rockets to 406 – amounting to 1.4m sq ft of office space. The 28-page report, Catching the Next Wave: Manchester, Technology and Real Estate, draws on experience and evidence from the west coast of America. Knight Frank partner and head of industrial, Rob Taylor, said: “The emergence of new wave technologies will both disrupt and enhance the operations of industrial occupiers and the efficiency of supply chains. Our view is that new technologies will emerge unevenly across the market – serving to bring competitive advantage to those able to make the necessary investments and have the required level of digital fitness.”