Growth ahead for Manchester commercial property commercial mortgages

21 May 2007

Manchester''s commercial property market is showing increasing signs of growth potential, able to attract a growing number of businesses including those with commercial mortgages.

A large proportion of attractive, high quality property developments is contributing to the appeal of Manchester''s commercial property market, leading some experts to predict strong growth in the future.

Taking this growth potential into account, it is thought that Manchester could establish itself as the UK''s second city after London. Alan Burns of JMW Solicitors states that Manchester is unlikely to catch up with London, but is performing well.

"I think London has more prestige internationally, so a London base probably helps if you''re looking to get clients from overseas," he told Assetz.

"But having said that, Manchester is a well known city ... [so] it''s not a disincentive to getting work from overseas."

Mr Burns highlights a number of prominent commercial property developments in Manchester as responsible for a market boom.

Land Securities reports that the UK commercial property market has reached a peak, currently worth some £710 billion.