Oxford office demand reached a record high in 2019, shrugging off economic and political uncertainty
Bidwells' latest research reveals a fall in the Oxford office availability rate to 7% while requirements rise to 1.1 million sq ft, pushing prime rents to a new record high.
Science and technology businesses were responsible for two-thirds of lettings by floorspace.
With rapid growth of the science and technology sector, combined with greater clarity in the wider political backdrop, Bidwells predicts demand and rental pressures will persist.
- Prime office rents up almost a quarter in last 12 months to all time high of £43.50 psf – a little short of prime Cambridge levels
- 1.1m sq ft. of floorspace sought, but less 570,000 sq ft available, with only 173,000 sq ft. of Grade A
- Science and technology businesses responsible for 60% of lettings by floorspace
- Half of requirements by size are for space of over 30,000 sq ft.
Download our research paper to find out more, and our predictions for the year ahead and beyond.
prime office rents rise by
24.3% in 2019
sq ft of requirements
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