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.
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).
Bidwells has released its Spring 2020 M1 South industrial research which reveals that the Milton Keynes and Northampton industrial market saw close to 3m sq ft of take-up in 2019, well ahead of the long run average.
Bidwells has released its Spring 2020 Norfolk and Suffolk industrial research which reveals that supply constraints are taking their toll on the Norwich market, frustrating potential occupiers and supressing take up, which has fallen below the long term average.
Bidwells has released its Spring 2020 Oxfordshire industrial research which reveals that 2019 ended the year with 20% of all available stock across the market under offer, after 12 months of limited supply curtailing take up.
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.