Manchester’s retail space tops UK-wide property investment ranking

Retail property in Manchester represents the country’s most underpriced market, according to the latest UK Fair Value Index from DTZ, the global real estate services firm.

DTZ, which has an office in central Manchester, highlighted the city as the UK’s best location for investing in real estate in 2015.

The firm’s senior director in Manchester, Bruce Poizer, said: “In general there’s a buzz about Manchester at the moment, supported by government regional policies and the development agenda, and we’re seeing strong interest in property from both domestic and foreign investors.

“Medium-term growth prospects are good and we expect steady rises in population as some firms locate in Manchester rather than London, or add satellite offices here.”

He continued: “This will feed through to growth in retail sales and demand for retail space, which all bodes well for investment in retail property here. Hence it’s no surprise to me to see Manchester retail topping our Fair Value rankings this quarter.”

According to the report, Manchester’s retail space was boosted by strong rental growth prospects.

Northern cities dominated the UK Fair Value Index’s list of the top five underpriced markets, with Newcastle (industrial) coming in second place, Leeds (retail) in third, and Glasgow (industrial) in fifth. Bristol was the only non-northern city in the top five, coming in fourth place for the value of its retail space.