Manchester is facing a shortage of prime commercial space in an era where an increasing level of occupier demand is focused on best-in-class offices. Since the pandemic, the flight-to-quality trend is real and due to a challenging economic climate – high build cost inflation, expensive debt and softening investment yields – development economics have halted the supply pipeline.

GMCA’s announcement to provide long-term investment for new commercial space being delivered is a win-win for the region – creating an environment that sees new schemes come forward and also generating financial returns that can be reinvested locally on a cyclical basis. GM’s Good Growth Fund has got this right, this integrated investment will help bridge the current viability gap and see the region continue to........

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