Oxford, Cambridge and Milton Keynes have taken a central role in the fight against COVID-19, with science and tech a key driver of this continued activity. Read our blog discussing business activity across the Arc, the future science and tech hotspots, and the importance of collaboration in our knowledge economies.
The pandemic inevitably had an immediate impact on the London office market, as requirements were placed on hold. But, having entered the crisis from a robust position, the West End market has the capacity to work through the longer term implications of the ‘new normal’.
The Milton Keynes office market saw take up return to trend levels during H1 despite the pandemic disruption. SME activity has remained strong and those businesses seeking larger floorplates face a challenge with the supply of Grade A space standing at a 15 year low.
The current Local Government structure in Hertfordshire comprising the County Council and ten district and borough Councils, which has been in place since local government reorganisation in 1974, is set for change.
Activity continued throughout lockdown in Cambridge and 145,000 sq ft of space was under offer at the end of H1. Robust demand from SMEs in particular is expected to drive an increased pace of take-up in H2.
The total value of the world’s forests was estimated to be $150 Trillion in a recent Boston Consulting Group report - double the value of the global stock markets – with tree’s carbon storage ability amounting to 90% of this value.
Bidwells' latest Oxford-Cambridge Arc report forecasts 20m sq ft of commercial space will be needed in the region over next two decades. With office and laboratory space demand still strong and radical planning reform promised imminently, Bidwells' latest webinar asked: what's next for the Arc's knowledge economy?