The first half of 2019 saw the availability of offices in Milton Keynes fall to its lowest rate since 2017. The pace of take-up over the last 12 months reflects the city’s continued status as the UK’s fastest growing economy driven by further productivity improvements associated with the expansion in high growth business sectors.
Looking ahead, office requirements showed a strong rebound in H1 despite the uncertain times and the shortage of large floorplate space in particular. This is expected to drive rents to a new record high by the year end.
With the tech sector continuing to grow its presence in the town, the addition of new city centre floorspace will be welcomed. The Central Business District will be transformed by Santander’s new 400,000 sq ft Tech Hub and MK:U, which starts construction in the coming months.
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