ashleySavills is celebrating its 20th anniversary in Manchester after first opening its doors in the city in 1996. From an initial team of three, comprising Mark Ridley who is now CEO Savills UK & Europe and senior directors Peter Mallinder and Patrick Joynson, staff numbers have increased to more than 200 making Manchester the firm’s biggest office outside of London.
James Evans, head of Savills Manchester, comments: “Just as Manchester has evolved significantly over the last 20 years, Savills has grown and prospered within the city. The scale of the commercial and residential property markets within the city region have accelerated dramatically over this time period and we are proud of the fact we have been able to grow our service provision in response to the ever-changing needs of our clients. However, despite our growth in head count I am also proud that we have been able to retain our unique culture and continue to ensure Savills is a fun business to be part of.”
Over the last two decades, Manchester has changed dramatically and firmly established its profile on a global level. When Savills opened in the city in 1996, ownership of prime offices was dominated by UK funds and local property companies such as P&O Properties, Bruntwood, CWS and the Greater Manchester Pension Fund. Today, such has been the growth and appeal of the region that the landlord base is made up of a diverse blend of investors from across the globe. For example, Germany’s Union Investment Real Estate recently purchased XYZ in Spinningfields while German fund Deka acquired One St Peter’s Square.
Peter Mallinder, investment director at Savills, comments: “The quality of buildings, maturity of the market and availability of truly prime stock means Manchester now competes on an international scale. Just as the investment market has flourished over the last 20 years, the occupational market, whether it be retail, offices or industrial, has also grown and become much more sophisticated.”
Manchester’s office market has undergone significant change. Demand from occupiers comes not just from a diverse base of sectors with a notable spike within the ever maturing TMT sector but also from global businesses who recognise the benefits of the city’s economy and its attributes. The wider offer now consists of a burgeoning leisure sector and an ever growing city centre residential market that has grown exponentially over the last decade.
Savills Manchester now has an established, multi-service offer including investment agency; office and industrial agency; retail and leisure agency; building and project consultancy; property management; hotels agency and valuation; valuation; residential and planning. The firm also has three residential offices in the North West (Chester, Wilmslow and Clitheroe.)