And David Porter, head of Knight Frank's Manchester office, says the city region might need a publicly-backed commercial investment fund to help support its ongoing regeneration.
Knight Frank's figures showed improved occupier activity in H1 2024, with take-up reaching 504,885 sq ft - up 29 per cent on H1 2023 and 14pc above the fiveyear H1 average.
The professional services sector accounted for more than half of all space leased across 36 deals.
Within that, serviced office providers represented 46pc of total professional services take-up with the largest single letting seeing Cubo taking nearly 60,000 sq ft at WeWork's former home of No.1 Spinningfields.
Manchester registered the highest year-on-year rental growth of regional cities at 13pc, alongside Bristol and Sheffield. Rents reached £45 per sq ft in Q2 2024, with prime rent up 20pc since the start of the pandemic.
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