Introduction
Salford Quays, located in Salford, Greater Manchester, UK, is a bustling area with a rich history of urban regeneration. It was previously the location of Manchester Docks, but with the closure of the docks in 1982, the area became the first and largest urban regeneration project in the UK. Today, Salford Quays is a hub of commercial real estate, offering a range of shops, offices, restaurants, and more for rent. In this article, we will discuss the current state of the commercial real estate market in Salford Quays, UK.
Market Overview
Salford Quays is a sought-after location for commercial real estate due to its prime waterfront location and proximity to Manchester city centre. The area has seen significant investment in recent years, with many new developments springing up, including MediaCityUK, a purpose-built media hub that has attracted companies such as the BBC and ITV. This has led to an increase in demand for commercial real estate in the area, particularly for office space.
Current Prices
The current prices for commercial real estate in Salford Quays vary depending on the size and type of property. For example, a 7,070 – 25,016 sq ft office space can be rented for £12,667 pcm. Prices for retail spaces and restaurants also vary based on factors such as location, size, and condition of the property.
Trends
One significant trend in the commercial real estate market in Salford Quays is the shift from office spaces to residential properties. This trend is attributed to the growth of the residential market in the area and the increase in demand for housing due to the influx of people moving to the area. However, despite this trend, Salford Quays still offers a range of commercial real estate options for businesses looking to establish a presence in the area.
Conclusion
Salford Quays is a prime location for commercial real estate due to its waterfront location and proximity to Manchester city centre. The area has seen significant investment in recent years, leading to an increase in demand for commercial real estate, particularly for office space. While there is a trend towards residential properties, Salford Quays still offers a range of commercial real estate options for businesses looking to establish a presence in the area. Prices for commercial properties in Salford Quays vary depending on the size and type of property, with office spaces being the most expensive.
