Some of the key findings of the office report are:
- Prime nodes with new and quality stock have a better absorption of office space compared to areas with secondary buildings, indicating that occupiers are still looking for quality stock although at reduced rentals.
- Whilst the market is accumulating a good supply of quality stock, vacancies are increasing with prime nodes now catching up to national vacancies at over 10%.
Some of the key findings of the industrial report are:
- The industrial market witnessed an improved up take of space and reduced vacancies, although rental growth was disappointingly flat in key nodes.
- The completion of speculative developments is likely to worsen the outlook for industrial units. However, some nodes with good quality stock and infrastructure will continue to attract occupiers albeit at a reduced rental.