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‘Resilient’ Manchester office market driven by Q1 SME deals as city has another 1m sq ft year in 2025

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Agents say number of large requirements set to complete later in the year

Manchester skyline

The Greater Manchester property market remained resilient in Q1, agents said(Image: LDRS)

Property agents say office demand in Manchester remained “resilient” in the first quarter of the year as SMEs drive the market ahead of larger deals expected to complete later in the year.

The latest report from the Manchester Office Agents Forum (MOAF) showed office take-up for the first three months reached 286,000 sq ft across 51 deals, which is “in line with the five-year average” It is down on last year’s Q1 figure of 319,995 sq ft across 53 deals, which was the best first quarter take-up for five years.

Key transactions this quarter included the Government Property Agency’s acquisition of 114,000 sq ft at Havelock, X & Why taking 25,000 sq ft at The Hive, Jacobs securing 9,000 sq ft of expansion space at The Lincoln, and Sheppard Robson moving into 9,000 sq ft at its own scheme at Pall Mall.

But MOAF said activity was driven largely by smaller moves, with 42 deals each for under 5,000 sq ft of space.

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Meanwhile, another study by JLL has shown that Manchester kept its position as the UK’s biggest regional office market in 2025 – and was the only Big Six city to record more than a million sq ft of take-up.

Rosie Veitch of Sixteen Real Estate said: “The Manchester office market continues to perform well year on year. The bulk of Q1 transactions were under 5,000 sq ft, highlighting SMEs’ confidence in Manchester as a city. This is supported by the city’s strong talent pool, excellent transport links, and the high-quality office space being delivered by landlords with 34% of all deals under 10,000 sq ft being fully fitted and furnished.

“There also remains a number of large requirements in the market from both existing Manchester occupiers and new entrants, which we expect to transact later in the year.”

Beyond the city centre, MOAF reported that office activity was steady in the key sub-markets of South Manchester, Salford Quays & Trafford and Warrington, which together delivered more than 160,000 sq ft of take‑up in Q1.

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South Manchester saw 82,400 sq ft across 64 transactions, again driven by SME demand and smaller lettings, while Salford Quays & Trafford saw 35,500 sq ft of take‑up. Warrington reported 42,300 sq ft of take-up from “larger strategic lettings” to smaller deals for less than 2,000 sq ft at the borough’s business parks.

Simon Roddam, head of OBI’s regional/out-of-town office in Warrington, said: “The Q1 figures underline that demand remains resilient outside the city centre. While occupiers are taking a more considered approach, South Manchester, Salford Quays & Trafford and Warrington continue to perform well by offering the right blend of quality accommodation, flexibility, and competitive occupational costs.”

MOAF members include Avison Young, CBRE, Colliers International, Canning O’Neill, Cushman & Wakefield, Edwards, Fisher German, TSG Property Consultants, Hallam Property Consultants, JLL, Knight Frank, LSH, OBI, Savills, and Sixteen.

JLL’s research showed Manchester recorded 1.06m sq ft of transactions in 2025 – down on the 2024 peak of 1.22m sq ft but close to the five-year average of 1.1m sq ft.

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READ MORE: Grosvenor picks Manchester for first regional flexible workspace with redevelopment of The Hive alongside x+whyREAD MORE: BLOCK launching Manchester and Birmingham workspaces after £6m investment

Key deals included AutoTrader’s 130,000 sq ft commitment at 3 Circle Square, which was the the largest single deal across the Big Six in 2025. Six of the top 20 regional deals, totalling 307,000 sq ft, were in Manchester.

JLL is now forecasting prime rents will reach £60 per sq ft by 2030, up from £45 at the end of 2025. But it says the supply pipeline remains a challenge, as several new schemes under development will not complete until 2027 and 2028 at the earliest.

Manchester also led the Big Six in investment, with £257m transacted across 14 deals – up 22% on 2024.

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Richard Wharton, director of Office Agency in Manchester at JLL, said: “Manchester’s fundamentals remain the strongest of any UK regional market. The demand pipeline for 2026 is robust, but occupiers looking for best-in-class space need to be moving now.

“With the new-build pipeline not delivering until 2027 at the earliest, we expect competition for prime space to intensify and rents to continue their upward trajectory. The refurbishment market is filling some of the gap, and we’re seeing strong appetite from occupiers for well-executed retrofit schemes in core locations.”

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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Face serum advert banned over 'five years younger' claim

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Face serum advert banned over 'five years younger' claim

Eucerin asked 160 people to use the serum for four weeks then say how much younger they thought they looked.

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Building Success One Job at a Time

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The UK government is seeking an exemption from Donald Trump’s proposed 25% tariffs on steel exports, arguing Britain’s small export share and defence links justify special treatment. Industry fears price rises and market disruption.

Success doesn’t always start with a big break. For Joel Ney, it started with showing up, learning fast, and doing the work.

Joel grew up in Pine Grove, Pennsylvania. As a kid, he stayed active with sports and spent a lot of time with family and friends. Those early years shaped how he approaches life today—focused, steady, and grounded.

“Success to me is having the people around me trust that I can get the job done and being able to provide for my family,” Joel says.

That mindset would later define his career.

From School to Skilled Trades

Joel followed a practical path after high school. He graduated from Pine Grove High School and continued his education at Thaddeus Stevens College of Technology and Mansfield University.

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He didn’t chase shortcuts. Instead, he focused on building real skills.

That decision led him into construction, where he started working with PKF III Construction. Like many in the trades, he began at the bottom.

“One of the biggest obstacles I have faced is starting as the new guy and having to work my way up with little experience,” he says.

It wasn’t easy. But it was clear what needed to be done.

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“I overcame this by working hard and learning from anyone I possibly could.”

Learning the Craft and Growing in Welding

Joel didn’t stay in one lane. He expanded his skills and moved into welding, working with Great Coasters International.

This shift shows a pattern in his career. He looks for ways to grow, then puts in the effort to make it happen.

“A hard-working attitude and the willingness to learn and grow within your career,” he says, are key to long-term success.

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In industries like construction and welding, progress often comes from doing. Joel embraced that. Each job became a chance to improve.

He focused on mastering the basics. Then he built on them. Over time, that approach helped him take on more responsibility and earn trust.

What Drives His Work Today

Joel’s motivation is simple and personal.

“My family and the people around me that I work with, and strive to help them succeed as well.”

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This focus shows up in how he works. He doesn’t just aim to complete tasks. He wants to be someone others can rely on.

That mindset has helped him contribute meaningfully to teams and projects. It also reflects a bigger idea—success is not just about individual results. It’s about helping others move forward, too.

Staying Focused and Moving Forward

Every career has moments of doubt. Joel has learned how to manage them.

“One thing at a time and stay away from feelings of uncertainty and self-doubt.”

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That approach keeps him steady. Instead of getting overwhelmed, he breaks things down and focuses on the next step.

He also believes in setting clear goals.

“Setting goals and pushing myself to achieve them.”

This combination—focus and goal setting—has helped him move forward in his career without losing direction.

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A Different View on Feedback

Joel has a practical view of feedback and outside opinions.

“As long as I believe myself and my work to be successful, peer feedback is not very valuable to me.”

This doesn’t mean ignoring others. It means trusting his own standards first.

In hands-on industries like construction and welding, results speak clearly. Joel focuses on the quality of his work and the trust he builds with others.

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Life Outside of Work

Outside of his career, Joel Ney stays active and connected to his interests.

He enjoys traveling, hunting, fishing, and riding ATVs. He also continues to work on construction and contracting projects, even outside of his main job.

His connection to the community is just as strong. He volunteers at his church and helps with local youth sports teams. He also supports SPCA organizations and local charities.

These activities reflect the same values he brings to work—consistency, effort, and a focus on helping others.

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Building a Career That Lasts

Joel Ney’s story is not about overnight success. It’s about steady progress.

He started with limited experience. He learned from others. He built skills over time. And he stayed focused on what matters—trust, family, and doing the job right.

His career shows how small, consistent actions can lead to real results. By taking things one step at a time, he has turned effort into opportunity.

And in his own words, it comes back to a simple idea:

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“Having the people around me trust that I can get the job done.”

That trust is what he continues to build—one project at a time.

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Pacifica announces acquisition of the Repaircare business

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The County Durham firm has increased its share of the domestic appliance repair market with the deal

Pacifica Group repairs more than 350,000 home appliances every year

Pacifica Group repairs more than 350,000 home appliances every year(Image: Ryan Edy)

Domestic appliance repair firm Pacifica has announced the acquisition of the Repaircare business from Screwfix Spares, expanding its national service capability.

The acquisition sees County Durham-based Pacifica take on all Repaircare client contracts and operational activities. These include a number of partnerships with major retailers and manufacturers, collectively accounting for around 80,000 appliance repair jobs per year.

Repaircare was originally part of the Connect Group, which was acquired out of administration by Screwfix in 2023. As part of the deal, more than 35 back-office and operational staff will transfer to Pacifica under TUPE arrangements, while around 120 subcontracted engineers currently supporting Repaircare’s nationwide operations will transition to Pacifica’s network of repair professionals.

The Repaircare brand will be fully-integrated into the group’s Pacifica Appliance Services division. Pacifica said the deal aligns with its sustainability strategy, which focuses on extending appliance lifecycles through repair services and reducing unnecessary waste.

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The acquisition strengthens Pacifica’s national infrastructure, which delivers more than 360,000 appliance repairs annually through a network of around 350 directly employed colleagues and partnerships with more than 200 engineering companies across the UK.

Rob Johnson, managing director of Pacifica Appliance Services, said: “This acquisition represents a significant step forward in the continued growth of Pacifica Appliance Services. Repaircare has built strong relationships with leading retailers and manufacturers, and we are delighted to welcome both its customers and operational teams into the Pacifica family.

“Our priority is to ensure a seamless transition for all partners and their customers. With our nationwide network of skilled engineers, advanced technology platforms and proven operational expertise, customers can be confident that they are in safe hands.”

Dan Monaghan, CEO of Screwfix Spares, said: “We are pleased to complete this transaction that sees RepairCare joining Pacifica. This move allows Screwfix Spares to remain focused on its core business, supplying spare parts and accessories that keep products in use for longer. Colleagues who are transferring will join a specialist repair business with a strong national footprint and deep expertise in this area. We wish everyone every success in this new chapter.”

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Alexandria Real Estate Equities, Inc. (ARE) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Alexandria Real Estate Equities, Inc. (ARE) Q1 2026 Earnings Call April 28, 2026 2:00 PM EDT

Company Participants

Joel Marcus – Founder & Executive Chairman
Marc Binda – CFO & Treasurer
Jenna Foger – Senior Principal of Science and Technology
Peter M. Moglia – CEO & Chief Investment Officer

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Conference Call Participants

Paula Schwartz – Rx Communications Group LLC
Farrell Granath – BofA Securities, Research Division
Nicholas Joseph – Citigroup Inc., Research Division
Ronald Kamdem – Morgan Stanley, Research Division
Anthony Paolone – JPMorgan Chase & Co, Research Division
James Kammert – Evercore ISI Institutional Equities, Research Division
Vikram Malhotra – Mizuho Securities USA LLC, Research Division
Richard Anderson – Cantor Fitzgerald & Co., Research Division
Wesley Golladay – Robert W. Baird & Co. Incorporated, Research Division
John Kim – BMO Capital Markets Equity Research
Michael Carroll – RBC Capital Markets, Research Division
Dylan Burzinski – Green Street Advisors, LLC, Research Division
James Feldman – Wells Fargo Securities, LLC, Research Division

Presentation

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Operator

Good day, and welcome to the Alexandria Real Estate Equities’ First Quarter 2026 Conference Call. [Operator Instructions] Please note, today’s event is being recorded. I’d now like to turn the conference over to Paula Schwartz with Investor Relations. Please go ahead.

Paula Schwartz
Rx Communications Group LLC

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Thank you, and good afternoon, everyone. This conference call contains forward-looking statements within the meaning of the federal securities laws. The company’s actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company’s periodic reports filed with the Securities and Exchange Commission. And now I’d like to turn the call over to Joel Marcus, Executive Chairman and Founder. Please go ahead, Joel.

Joel Marcus
Founder & Executive Chairman

Thank you, Paula, and welcome, everybody, to our first quarter earnings call. With me today are

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US mandates what it calls ’enhanced’ security checks for immigration applicants

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US mandates what it calls ’enhanced’ security checks for immigration applicants

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Oil prices fall from 3-wk high; UAE leaves OPEC, Hormuz disruptions persist

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Coca-Cola Stock Climbs 6% to $80 on Q1 Earnings Beat and Raised 2026 Outlook

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Diet Coke

NEW YORK — Coca-Cola Co. shares jumped more than 6% to $80.21 in morning trading on Tuesday, April 28, 2026, after the beverage giant reported first-quarter results that topped Wall Street expectations and raised its full-year earnings guidance, driven by resilient global demand for its higher-priced drinks and strong execution in emerging markets.

The Atlanta-based company posted adjusted earnings per share of 86 cents, beating analysts’ consensus estimate of 81 cents. Revenue reached $12.47 billion, surpassing forecasts of approximately $12.24 billion. Organic revenue growth hit 10%, marking the company’s strongest performance in five quarters and reflecting successful pricing strategies alongside solid volume gains.

Coca-Cola raised its full-year comparable earnings per share growth outlook to 8-9% from a previous 7-8%, while maintaining its organic revenue growth target of 4-5%. The upbeat update signaled confidence in sustained consumer demand despite economic pressures in some regions.

CEO James Quincey highlighted broad-based strength across categories and geographies. Sparkling beverages, particularly zero-sugar and premium offerings, continued to perform well as consumers traded up within the portfolio. The company also benefited from disciplined cost management and operational efficiencies that expanded operating margins.

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The strong results triggered enthusiastic buying, with shares easily outpacing the broader market. Volume surged in early trading as both institutional investors and retail traders reacted to the beat. The move pushed Coca-Cola toward its 52-week high and underscored its status as a defensive powerhouse in an uncertain economic environment.

Coca-Cola’s performance stands out amid mixed consumer spending trends. While some packaged goods companies have faced pushback against price increases, the world’s largest beverage maker has successfully balanced pricing power with innovation and marketing. Its diversified portfolio — spanning sparkling soft drinks, water, sports drinks, coffee and juices — has helped insulate it from category-specific slowdowns.

Analysts praised the results. Several firms raised price targets following the report, citing improved visibility into the year and the company’s ability to navigate inflationary pressures. The raised guidance was viewed as particularly encouraging, removing a layer of uncertainty heading into the critical summer selling season.

For investors, Coca-Cola remains a core holding in many portfolios thanks to its reliable dividend, global scale and brand strength. The stock’s 3%+ yield combined with steady earnings growth has made it a favorite for income-focused and defensive strategies. Tuesday’s surge adds to solid year-to-date gains and reinforces the company’s resilience.

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The results come as Coca-Cola continues investing in digital transformation, sustainability initiatives and emerging market expansion. Management noted particular strength in developing regions where rising middle classes are driving demand for premium beverages. North America and Europe also contributed positively despite varying economic conditions.

Broader industry trends support Coca-Cola’s momentum. The shift toward premiumization — consumers choosing higher-end or better-for-you options — plays directly into the company’s strategy. Innovations like new flavors, limited editions and functional beverages have helped maintain excitement around core brands.

Challenges remain. Input cost pressures, foreign exchange volatility and changing consumer preferences require ongoing vigilance. The company has faced scrutiny over sugar content and environmental impact, prompting accelerated efforts in recyclable packaging and reduced-plastic initiatives.

Wall Street consensus remains bullish. Most analysts rate the stock as a Buy or Outperform with average price targets well above current levels. The combination of earnings visibility, dividend growth and long-term demographic tailwinds continues attracting long-term capital.

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As trading progressed Tuesday morning, shares consolidated near session highs with healthy volume. Technical analysts noted the breakout above recent resistance, with potential near-term targets in the low-to-mid $80s if momentum holds. Options activity showed increased call buying, reflecting optimism.

Coca-Cola’s ability to deliver consistent results in a complex global environment highlights the strength of its business model. With a market capitalization exceeding $300 billion, the company remains one of the most valuable consumer staples franchises worldwide. Tuesday’s reaction demonstrates the market’s appreciation for reliable execution and forward-looking confidence.

Looking ahead, investors will watch second-quarter performance closely, particularly summer volume trends in key markets. Any further guidance updates or strategic announcements could provide additional catalysts. For now, the Q1 beat and raised outlook have set a positive tone for the remainder of 2026.

The day’s move reinforces Coca-Cola’s reputation as a blue-chip name capable of delivering growth and stability. As global economies navigate uncertainty, the company’s focus on essential consumer products and pricing discipline positions it favorably for continued success.

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Moody’s Upgrades Thailand’s Credit Outlook from ‘Negative’ to ‘Stable’

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Thailand lifts cap on forex repatriation to temper baht rally

Moody’s Ratings has revised Thailand’s sovereign credit outlook from “negative” to “stable,” crediting improved political stability and progress on structural economic reforms.

Key Details:

  • Moody’s has affirmed Thailand’s long-term local and foreign currency issuer ratings at Baa1, with the outlook shift announced by Finance Minister Ekniti Nitithanprapas.
  • The upgrade reflects the perceived stability of Prime Minister Anutin Charnvirakul’s government, which has enabled greater policy continuity and reform momentum.
  • Key reform priorities include easing business regulations and liberalising the energy market to encourage private sector competition.
  • External pressures have eased, with reciprocal tariff negotiations bringing Thai customs duties more in line with regional peers, boosting export competitiveness.
  • Pressure from the global energy crisis is considered manageable and comparable to other Baa1-rated nations.
  • Private investment is recovering strongly, partly driven by the government’s ‘Thailand FastPass’ initiative, which accelerated private sector spending in Q4 of last year.

The upgrade signals a significant improvement in international confidence in Thailand’s economic and political trajectory, with analysts suggesting that successful execution of the planned structural reforms could deliver sustained GDP growth and a stronger fiscal position.

Moody’s upgraded Thailand’s outlook to “stable” primarily due to improved political stability and a clearer path toward structural economic reforms.

The key drivers cited by the agency include:

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  • Reduced Political Uncertainty: The stability of Prime Minister Anutin Charnvirakul’s government has mitigated the political volatility that previously weighed on the economic outlook, allowing for essential policy continuity.
  • Reform Momentum: The administration is actively pursuing reforms to boost business flexibility and liberalize the energy market, which Moody’s views as a positive trajectory for long-term growth.
  • Easing External Pressures: Negotiations on reciprocal tariffs have reduced trade friction, aligning Thai customs duties with regional peers and enhancing export competitiveness.
  • Resilient Private Investment: There is a robust recovery in private investment, accelerated by the government’s “Thailand FastPass” initiative.

While global energy price pressures remain a concern, Moody’s determined that the resulting impact on Thailand’s debt and economy is manageable and comparable to other nations with a Baa1 rating.

Moody’s cited the stability of Prime Minister Anutin Charnvirakul’s government as the primary factor in improving political stability, which in turn enabled progress on structural reforms.

The key reforms the government is focused on, which are seen as driving the improved outlook, include:

  • Easing Business Regulations: Streamlining bureaucratic hurdles to make it easier for businesses to operate.
  • Liberalising the Energy Market: Opening up the power sector to foster private sector competition.

These reforms are designed to create new economic engines and boost the nation’s Gross Domestic Product (GDP), with the long-term goal of achieving a more robust fiscal position.

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A fresh financial crisis may be coming – it won't play out like the last one

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A fresh financial crisis may be coming - it won't play out like the last one

Several warning lights are flashing that have some wondering whether we are in the foothills of another financial crisis.

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Bicara Therapeutics CMO David Raben sells $125,830 in shares

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