Bidwells' latest Market Databook research reveals the second half of 2020 saw office and laboratory take up return to trend levels following a COVID-19 disrupted H1. Cambridge has been on the axis of the UK pandemic response sustaining business activity across the city. The market has seen take up continue across a range of business sectors, but dominated by knowledge intensive industries.
The Government’s Spending Review announcement of £4 million to help deliver an Oxford-Cambridge Arc-wide spatial strategy, alongside four development corporations, will keep the Arc project afloat, but it’s just a drop in the ocean, according to Bidwells’ head of planning Mike Derbyshire.
Bidwells has released its Summer 2020 industrial research which reveals COVID-19 disrupted the M1 South market during the first months of the pandemic, but take-up recovered quickly as retailers and logistics operators sought expansion space.
Bidwells has released its Summer 2020 Cambridgeshire industrial research which reveals that despite the unprecedented period, Grade A H1 take up approached levels recorded over the same period in 2019.
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.
Covid 19 has forced us all to reconsider our view of the world. But I can report that my view of the strategic planning world hasn’t altered. I’m still in no doubt that sweeping changes are necessary. More than ever, the planning system needs leadership on the big issues.
The Oxford-Cambrdge Arc has established a critical mass which is gaining momentum, with the core science, technology and engineering locations of Oxford, Cambridge and Milton Keynes reinvigorating the wider region. These three local economies have been very important in determining the success of the Arc over the past five years.