Offices & Labs Databook Norfolk & Suffolk - January 2024

Availability in the Norwich office market fell again last year and prime rents rose. We believe that prime yields at 10.5% provide an attractive entry point for investors looking to deploy capital.

31 Jan 2024 5 MIN READ DATABOOK

Last year marked a further phase in the recovery of the Norwich office market following the pandemic. Availability fell to 6.3% at the end of 2023 from a peak of 8.0% at end-2021 and rents on prime offices rose, after stagnating for several years. The improvement reflects strong demand for offices <5,000 sq ft, a lack of new development and the conversion of older offices to residential and other uses.

Prime office yields in Norwich rose to 10.5% at the end of 2023. We believe that provides an attractive entry point for investors given good prospects for prime rental growth and given 10 year government bond yields at 4%.

Title

First name

Last name

Contact number

Company

Job Title

I'D LIKE TO HEAR MORE ABOUT

Yes No

Office & Labs

Oxford to Cambridge Arc

PRIVACY NOTICE

By clicking the link to download you agree to Bidwells adding your details to our database, to receive the latest news and insights. You can manage your preferences and unsubscribe here, clicking on an unsubscribe link in any email you receive from us or otherwise notifying us that you have changed your mind. Full details of how we process personal data can be found here.

KEY CONTACTS