- Take-up slower than anticipated despite encouraging market activity.
- Supply remains static but concerns over low Grade A stock levels.
- Headline rents in specific locations rising with incentives reducing.
Take-up for the South Coast region fell to 37,644 sq ft in Q1 2014, 39% down on the same period in 2013 and 60% down on the previous quarter. However there is encouraging activity in the market, with the average requirement size up from 5,500 sq ft to 6,750 sq ft.
We anticipate take-up will recover as the year progresses as strong demand is evident from the insurance, recruitment, telecoms and construction sectors.