Bidwells launches its latest Our View on Offices and Labs research, Spring 2020. Take up across the Oxbridge Arc was 1.4m sq ft in 2019, above the 10 year average, bolstered by a particularly strong year of activity in Cambridge (805,000 sq ft).
Take up in the three main Central London markets touched 11.1m sq ft in 2019, slightly above trend levels. Bidwells' latest research reveals that the London office market saw a rebound in activity in 2019, with take-up 9% ahead of the 10 year trend.
Space shortages have driven rental growth, with prime rents at an historic high. Bidwells' latest research reveals that the Norwich office market remains challenged by stock shortages, with availability rate sitting close to a 15 year low.
Despite slower take-up than in 2018, the latter half of 2019 saw an upturn in activity, with almost 150,000 sq ft of space under offer by the year end.
Bidwells' latest research reveals that following a strong year of take up in Milton Keynes in 2018, activity retrenched a little during the first half of 2019 albeit below the five-year trend.
Oxford office demand reached a record high in 2019, shrugging off economic and political uncertainty. Bidwells' latest research reveals a fall in the Oxford office availability rate to 7% and 1.1 million sq ft of requirements, pushing prime rents to a new record high.
Oxford faces a record level of 1.1 million sq ft of office space requirements going into the new decade. Despite a challenging year from a wider economic and political front, the market saw take-up pick up towards the year end, comforted by greater certainty.
The early days of the general election campaign saw several overdue announcements in support of science and technology research. But places like Cambridge and Oxford played a bit part in the national debate...
Combined office and laboratory take-up exceeded 0.8 million sq ft in 2019, the highest total since the record highs recorded in 2014/15 when AstraZeneca agreed its new global HQ and R&D centre space adjacent to Addenbrookes hospital on Cambridge Science Park.
Bidwells has released its Spring 2020 Cambridgeshire offices and laboratories research, which shows a strong year for the city, with take-up well ahead of ten year average at 0.8m sq ft - the highest total since the record highs recorded in 2014/15.