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Business Parks: Responding to Changing Times, Summer 2012

Report Authors: GVA

Report Summary:


Business park office take-up during the first half of the year recorded a total of 2.47m sq ft, an increase of 8% on the previous six months. Activity was particularly strong in the Midlands and the South East, although much more subdued in other regions.

Availability continues to increase and currently stands at 17.7m sq ft, which compares to 10.2m sq ft five years ago. The vacancy rate has also increased to 18.5% from 17.7% six months ago.

There is 657,000 sq ft of construction activity across the business parks, 75% of which is pre-let. This is the lowest level since our survey began and mainly constitutes a handful of schemes in the South East and North West.

There has been little change in headline rents and incentives over the past six months across all of the regions.

About the Author:

GVA’s award winning Research team provides high quality research and analysis to the business and its clients. Our market commentaries, thought leadership pieces and consultancy advice drive industry debate, distinguish GVA from its competitors, and add value for our clients.