BBC''s Manchester move ''to spark commercial property boom'' - commercial mortgages

20 February 2007

A new wave of commercial property investment could be heading to Salford Quays, near Manchester, sparked by the BBC''s affirmation that it will be relocating many of its functions to the northern city.

With the number of tenants of grade-A offices in the area gradually nearing capacity, a number of new office developments have either met approval or are currently under construction, the Manchester Evening News reports.

As the commercial property market has started to mature in the area, news of a potential property boom could be of interest to investors seeking commercial mortgages in the vicinity of Salford Quays.

Rupert Barron from Donaldsons property consultants described the local commercial property market as maturing "like a good wine".

"Headline rents are £8 per sq ft less than central Manchester and with lower rates to pay a saving of 30 per cent is very realistic," he remarked.

With new developments in the pipeline, Mr Barron concluded by saying: "[Salford Quays] will again be in a position to meet requirements of major occupiers."

The BBC currently runs its north-west operations from its site on Oxford Road, Manchester.