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Over £3bn Invested in UK Office Market Outside London

Despite the economic and political turbulence caused by Brexit - aspects such as the UK’s talented labour pool, strong financial markets, transparent laws/regulations and advanced technology infrastructure - still makes the UK an attractive proposition for businesses/investors seeking to set-up or expand their operations, according to Savoy Stewart.

The commercial property firm analysed the latest findings from several regional city reports complied by Knight Frank, to discover the total ‘investment volume’ and ‘take-up’ of office space in 10 major cities across the UK in 2018.

The 10 cities included within the research are as follows: Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Manchester, Newcastle and Sheffield.

Office take-up in square feet (sq ft)
Savoy Stewart found that Manchester experienced the greatest take-up of office space in 2018, reaching 1,750,562 sq ft. This was a 44% increase on the previous year, with office take-up reaching 1,218,892 sq ft in 2017.

Glasgow came in second place with a take-up of 962,921 sq ft in office space - equating to a 52% rise from 2017, when office take-up was 633,710 sq ft. Birmingham followed, with an office space take-up of 755,137 sq ft.

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