London is among 15 of the UK’s main office space markets set to see a drop in take-up this year.
The latest office report from Atisreal paints a varied picture. According to the report compared to 2007, some office space markets are oversupplied meaning rents are stable, and that there is even some opportunity for investment.
The report picks out Cardiff and Leeds as locations where demand for office space will exceed supply in the near future.
Both Bristol and Edinburgh fall into this category with this year’s take-up making up half of each city’s office space supply.
Dan Bayley, head of national lettings and sales at Atisreal, said: ‘The combination of recent performance and undersupply means that Bristol looks like somewhere sensible to invest.’
In contrast to this, the report suggests The City of London, London’s Docklands and Sheffield are both oversupplied with available office space.
Mr Bayley commented: ‘Oversupply in the City market may be balanced out by some of the tower schemes which are now not certain to go ahead. Similarly with Sheffield, the small oversupply may be balanced out by current significant government requirements.’
Tags: Atis Real