Milton Keynes saw a significant increase in office take-up during Q2, with stellar results of 143,000 sq ft in comparison to just over 40,000 sq ft in Q1. We now expect the Milton Keynes office market to outperform 2013 annual take-up (381,000 sq ft) and return to the long-term average of circa 400,000 sq ft.
The majority of this take-up was either new or recently refurbished space.
Northampton saw 30,666 sq ft take-up in Q2 which was down on previous quarters. This total comprised 15 transactions; six of which were freehold sales.
Offices to residential conversions continue to fuel take-up in Luton, with 54,000 sq ft transacted during Q2. There was no take-up of grade A space but that looks set to change as we are expecting a number of deals to complete during Q3.
For an annual comparison of take-up, click here.