Office Space and Commercial Markets Booming in East MidlandsNovember 1st, 2012 | by DanniB
579,000 sq ft of office and lab space has been taken up in Cambridge in the last 12 months and 1.7 million sq ft of industrial space in Milton Keynes and Northampton (972,000 and 694,000 respectively).
“While the first half of 2012 has been a challenging time for the economy, the outlook for household consumption has improved, with levels of employment in the UK growing and the rate of inflationary pressures easing,” says Bidwells’ James Lankfer.
“In an encouraging turnaround, the volume of sales returned to growth in the last quarter of 2011 and has remained positive ever since. This new expenditure has yet to feed through to rental growth in the high street retail and out of town markets.
“However, the sector has absorbed a significant proportion of surplus units and levels of availability in some of our markets are down to rates last seen in the boom years of 2006/2007.”