Whilst the immediate impact of the voting to leave the EU has had a short term impact on confidence in the property market in general, the Bidwells markets within the Golden Triangle continue to show strength.
Prime industrial rents increased across all Bidwells locations, with the average growth totalling 8.8%. Office rents remained broadly stable in the first half of the year, with only Cambridge seeing growth as rents increased to £36.50 per sq ft.
Other key themes and data emanating from the research:
- Cambridge has a total of 3.3 million sq ft of requirements [office, laboratories and industrial] – there is currently 1.4 million sq ft under construction, primarily focused on the office and lab sectors, the vast majority of which is taken.
- Milton Keynes industrial prime rents move to record high.
- Oxford office availability at lowest in decade at 7%.
- A further boost to the Golden Triangle - with study being undertaken to look at enhancing road links between Oxford, MK and Cambridge and reintroduction of the ‘Varsity Line’.
- Milton Keynes economy continues to grow faster than any other city in UK.
Contribution of Oxford’s digital economy to the local economy
Specific research on key locations, focusing on Cambridgeshire, Oxford, London, M1 South, Norfolk/Suffolk.