Offices and labs take up in Oxford and Cambridge has averaged 1 million sq ft per annum over the past three years, with almost 75% of this occupied by knowledge-based companies, finds Bidwells Research Director Sue Foxley.
Bidwells launches its latest Our View on Offices and Labs research. The expansion of the Oxford-Milton Keynes-Cambridge Corridor occupier base continues in defiance of the backdrop of economic and political uncertainty. Download our research here
In 2018, Milton Keynes Council announced that Cranfield University had been selected as the lead partner in the delivery of MK:U – a new, tech-based university to be delivered in conjunction with educational, technology and industrial partners including Microsoft, Grant Thornton, Tech Mahindra and Milton Keynes College.
Bidwells commissioned YouGov to undertake detailed and confidential interviews and online surveys of 50 global corporates, each respondent being the head of R&D or equivalent, with combined responsibility for global R&D spending of over £21 billion.
Milton Keynes saw above-average take-up in 2018. Bidwells research shows that, while the overall availability rate in Milton Keynes has drifted upwards over the last three years, demand for high quality space has depleted Grade A stock to an historic low.
Bidwells latest Norfolk and Suffolk Offices and Labs research shows Norwich is feeling the impact of a shortage of high quality office space containing take up. Reflecting the stock shortages, the availability rate has declined for four consecutive years to a near ten year low, while requirements continue to climb.
Bidwells latest Oxfordshire Offices and Labs research shows a step-change in take-up, while pressure on the city's office stock remains driven by accelerating growth in science and tech employment across the market.