STOCK market turmoil - and a wobble in Manchester's commercial property investment scene - are no cause for panic, says a leading city investment advisor.

Simon Wood, director in the investment office at CB Richard Ellis in Manchester, said a modest market correction is no cause for alarm.

He added: "The gap between prime and secondary is quite rightly re-emerging. The value of riskier properties, meaning those in secondary locations or those let on short leases to weak tenants - are falling fast.

"However, for prime property the fall has been more of a soft landing and there are a number of success stories in which this stock is still attracting huge amounts of interest and generating record yields.

"We are now seeing a correction in the investment markets but occupational demand remains healthy, particularly in the industrial and office sector."

Tweet