Manchester's reputation as a good place for corporates to set up headquarters and offices is growing as more organisations look to regions outside of London, it has been claimed.

This is no surprise given that Manchester contributes 40 per cent of the northwest's gross value added national accounts aggregate, according to office space provider Stonemartin.

The firm believes that the north is a strategic choice for corporates who now realise that London is not the only city in Britain where big businesses can run successful operations.

Julie Pickford, general manager at Peter House, one of Stomemartin's Manchester office properties, said: "We are seeing a lot of companies setting up new offices in the building and I think it reflects the wider trend of investment in Manchester.

"This is a really up and coming city and organisations are waking up to its potential in a big way."

According to a recent survey by Cushman & Wakefield, Manchester is the UK's second-best city for businesses, behind London.

With the exception of London, Manchester is the city that is expected to attract the largest number of companies between now and 2012.