Commercial property consultants Alder King has launched its first Market Monitor Update, a mid-year review of the commercial property market across the South West of England and South Wales. The report reveals some encouraging signs in the office and retail sectors, but a rather bleaker picture for industrial property.
At the midway point of the year, office take-up has improved in most of the key centres including Swindon, Bristol, Bath, Gloucester, Taunton and Plymouth. In Swindon, there has been an improved and consistent level of activity across the market.
The majority of office transactions are taking place out of town. The largest office deal so far this year was the TM Group which took the 10,405 sq ft first floor of Delta 1200.
In the industrial market, the second quarter of the year has seen less activity than the first, and compared with 2011, industrial demand has fallen from 1,823,000 sq ft to only 467,000 sq ft.
James Gregory (pictured), partner at Alder King’s Swindon office, said: “Not surprisingly, a lot of deals currently being concluded are tenant-friendly, incorporating break clauses and significant incentive packages but the encouraging feature at the half year is that more deals are happening.”
Alder King’s Market Monitor Update is available to download from www.alderking.com.
