Take-up down by 11%
In 2012, take-up in the South West dropped 11% to 5.7m sq ft. Given take-up, at a national level, fell 25%, this represents a relatively small drop in activity. Meanwhile, the levels of grade A take-up increased by almost three times, whilst activity in the second hand market fell back.
Prime rents remained stable across the South West, although this masks movements in some of the regions, with Exeter registering falls of 7.4%, while Poole and Bournemouth saw values rise by 7.1%.