City unbowed by IRA bomb attack 20 years on

A TOTAL of 5.38 million sq ft of office space has been developed in Manchester centre in the 20 years since the devastating IRA bomb attack.

Property consultant JLL says that while the city’s office market was already starting to experience a mini-boom in June 1996, the bomb acted as a catalyst for a range of improvements which have helped attract investment and occupiers.

Today, Manchester’s total office stock stands at 22.24 million sq ft, with a further 571,000 sq ft under construction and due for completion in 2017.

To coincide with the 20th anniversary, JLL has created an interactive board charting the key developments since the attack.

The board identifies the trends that have shaped the city, including schemes such as Barbirolli Square and Spinningfields which shifted the geography of the city’s prime office core as occupiers placed the quality of building over location in their decision making.

It also highlights key external factors, such as the city region’s devolution deals, and forthcoming infrastructure schemes like HS3, that are set to influence Manchester’s development over the next two decades.

Ken Bishop, development consultant at JLL, said: “It is generally considered that the bomb blast which brought so much devastation, but thankfully no loss of life, acted as a major catalyst for change in Manchester.

“Whilst the range of improvements and regeneration schemes that followed has helped to secure the city’s position at the forefront of the UK’s regional property market we believe there was already enough evidence in 1996 that this would have happened anyway.

“Perhaps the bomb’s main benefit was the acceleration of the regeneration of an unloved quarter of the city, the greater retail and leisure offer and the enhanced appeal of the city to businesses, employees and tourists alike.

“The anniversary is an important milestone in Manchester’s ongoing development.
“Today, Greater Manchester has one of the top 12 strongest regional economies in Europe, according to our latest City Momentum Index.

“With progressive civic leadership, the ambition of developers and the improving quality of the proposed schemes in the development pipeline Manchester will continue to offer superior business space to keep our city on its upwards growth trajectory.