2012 Global Market report - NAI Global

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Manchester, England, United Kingdom Contact NAI Haywards +44 20 7101 0200 Country Data Area (Sq Mi) GDP Growth GDP 2011 (US$ B) GDP/Capita (US$) Inflation Rate Unemployment Rate Interest Rate Population (Millions) 94,058 1.0% $2,173.00 $34,800.00 5.0% 8.3% 0.5% 62.262 The City’s economy is now largely service based with financial services, life sciences, cultural and media being the main sectors. The wider urban area is the third largest in the UK and is second in the UK for inward investment after London. It is ranked second in the UK and 12th in Europe as the “best place to do business”. Manchester was voted best UK city outside London for availability of retail, leisure amenities and a lively city environment. It is the third most visited UK city by foreign visitors. Annual take up of office space is likely to be below the long term average of 850,000 SF per annum. There are several large occupiers who are in negotiation for space (KPMG 55,000 SF; Pannone Solicitors 80,000 SF; Lloyds Banking Group 180.000 SF). The Co-operative Group has launched the first phase of its NOMA project; an £800 million project set to transform 20 acres of Manchester City Center providing 4 million SF of office, retail, residential and leisure space. As part of the project, the group will occupy a new 400,000 SF HQ building. The BBC has moved 2,500 jobs to Media City, Salford, a regeneration area to the west of the City Center, including five London based departments as part of its cost cutting program. Although warehouse take up remained strong, activity levels are well below those experienced in 2010. This fall in take up has been mirrored by a fall in availability, particularly for larger unit sizes where there is an acute shortage of supply. With no speculative development taking place, this is forcing occupiers to consider “design and build” solutions. During the year, there were significant transactions, including a new 450,000 SF distribution facility for Waitrose at Chorley. The investment market remains strong underlined by the current availability of a well let distribution unit in Trafford Park (360,000 SF, £28.7 million, 6.5%). The Arndale Center is the primary shopping center, anchored by Next and BHS. Outside the Arndale Center retailing is fragmented with various enclaves including the new Spinningfields development. Outside the City Center, Trafford Center rents have also remained around the £400 Zone A mark with new arrivals including Banana Republic and Hollister. Manchester At A Glance conversion 0.62 GbP = 1 us$ RENT/M 2 /MO US$ RENT/SF/YR low High low High Vacancy cItY center offIce New Construction Class A (Prime) Class B (Secondary) suburban offIce New Construction (AAA) Class A (Prime) Class B (Secondary) IndustrIal GBP N/A 25.00 N/A N/A N/A N/A N/A GBP 29.00 N/A N/A N/A N/A N/A $ 40.32 N/A N/A N/A N/A N/A $ 46.77 N/A N/A N/A N/A N/A 15.50% N/A N/A N/A N/A Bulk Warehouse Manufacturing High Tech/R&D retaIl GBP GBP 3.00 3.00 N/A GBP GBP 5.00 5.00 N/A $ $ 4.84 4.84 N/A $ $ 8.06 8.06 N/A 15.00% 15.00% N/A City Center Neighborhood Service Centers Community Power Center (Big Box) Regional Shopping Centers/Malls Solus Food Stores N/A N/A N/A N/A N/A GBP 230.00 N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 370.97 N/A N/A N/A N/A N/A N/A N/A N/A N/A deVeloPment land low/acre High/acre low/acre High/acre Office in CBD Land in Office Parks Land in Industrial Parks Office/Industrial Land - Non-park Retail/Commercial Land Residential N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 2012 Global Market Report n www.naiglobal.com 65
Latin America sectIon contents Buenos Aires, Argentina Nassau, The Bahamas Rio de Janeiro, Brazil Sao Paulo, Brazil Santiago, Chile Bogotá, Colombia San Jose, Costa Rica Santo Domingo, Dominican Republic Kingston, Jamaica Ciudad Juarez, Chihuahua, Mexico Guadalajara, Jalisco, Mexico Guanajuato, Mexico Matamoros, Tamaulipas, Mexico Mexicali, Baja California, Mexico Mexico City, Mexico Monterrey, Nuevo Leon, Mexico Querétaro, Mexico Reynosa, Tamaulipas, Mexico Saltillo, Coahuila, Mexico San Luis Potosi, Mexico Tijuana, Baja California, Mexico Panama City, Republic of Panama Lima, Peru Caracas, Venezuela
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2012 Global Market report Values, t
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Global Outlook US Year in Review As
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On the Road to Recovery % of Loss S
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Alberta is home to Canada’s oil a
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Page 39 and 40: Jakarta, Indonesia Tokyo, Japan Con
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Page 43 and 44: Taipei, Taiwan Ho Chi Minh City, Vi
Page 45 and 46: Calgary, Alberta, Canada Edmonton,
Page 47 and 48: Halifax, Nova Scotia, Canada Ottawa
Page 49 and 50: Regina, Saskatchewan, Canada Contac
Page 51 and 52: The Baltics (Latvia/Estonia/Lithuan
Page 53 and 54: Helsinki, Finland Paris - lle de Fr
Page 55 and 56: Tel Aviv, Israel Almaty, Kazakhstan
Page 57 and 58: Amsterdam, The Netherlands Oslo, No
Page 59 and 60: Moscow, Russia St. Petersburg, Russ
Page 61 and 62: Madrid, Spain Stockholm, Sweden Con
Page 63 and 64: Istanbul, Turkey Kiev, Ukraine Cont
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Page 87 and 88: San Francisco, California Ventura C
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Page 101 and 102: Des Moines, Iowa Sioux City, Iowa C
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Page 107 and 108: Greater Springfield, Massachusetts
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Ocean/Monmouth Counties (“Shore M
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Las Cruces, New Mexico Albany, New
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Westchester, New York Asheville, No
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Raleigh/Durham, North Carolina Farg
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Cincinnati, Ohio Cleveland, Ohio Co
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Oklahoma City, Oklahoma Tulsa, Okla
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Berks County, Pennsylvania Bucks Co
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Philadelphia, Pennsylvania Philadel
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Wilkes-Barre/Scranton/Hazleton, Pen
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Sioux Falls, South Dakota Chattanoo
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Memphis, Tennessee Nashville, Tenne
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Corpus Christi, Texas Dallas, Texas
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Houston, Texas Contact NAI Houston
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Salt Lake City, Utah Washington Cou
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Northern Virginia Seattle/Puget Sou
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Madison, Wisconsin Milwaukee, Wisco
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