Analysts say that a number of deals have been called off in the last two weeks as the city's commercial property investment market cools after three years of hectic activity.
Last week the Bank of England decided to leave interest rates unchanged at 5.75 per cent.
Bruce Poizer, investment director at Manchester surveyors DTZ, explained: "Quite a few deals falling out of bed, with purchasers chipping away at the prices, and vendors not quite sure which direction the market is going, up or down.
"Some deals may be looking a little rocky - but things could settle down by the autumn, and deals that look shaky now may get done after all.
"I'm encouraged that although the Bank of England held interest rates steady, the cost of money long-term has actually gone down this week, which has to be good news for anyone borrowing.
Market
"We also have to look beyond the UK to the Far and Middle East and America. The Manchester market needs to make sure some of that ends in the north west. That's where the buyers are going to come from in the future."
Predictions that American money could play an increasing role in the Manchester property scene follow US private equity group Carlyle's decision to pay £110m for the third and fourth buildings at Argent's Piccadilly Place office scheme.
Simultaneously Manchester property consultants DTZ and Savills last week agreed tie-ups with major United States property firms. This could help to channel North American investors into the north west.
Doubts about some Manchester property investment deals come as it emerged that bookmaker Fred Done, through his company Ribot Investments, was the purchaser earlier this year of Steam Packet House, Cross Street.
The 27,000 sq ft city centre block was bought from Royal London Insurance for £9.2m. The last time the property changed hands, in 1993, it sold for just £1.7m, illustrating the massive growth of the Manchester property scene. Tweet
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