Lambert Smith Hampton (LSH) has published its annual Thames Valley Office Market Report, highlighting steady office take-up over the last two years which is resulting in shortages of quality office stock in certain centres.
The report, now in its fourth year, looks at the dominant commercial property trends over the last year, with detailed statistics and forecasts for 11 key centres in the region. It also looks at drivers behind office demand, as well as Crossrail and Western Rail Access to Heathrow (WRAtH); two of the most influential infrastructure projects currently facing the Thames Valley.
Nick Coote, Head of LSH’s Thames Valley team, commented: "While letting velocity remains relatively slow, activity is focused on the better quality office stock. As a result, there is a steady erosion of quality office supply in the region, so we anticipate that market supply issues (where there are shortages of quality stock) will become increasingly exposed in some centres."
Nick concluded: “As ever, the challenge for landlords will be to provide the quality product demanded by occupiers, in the right locations, and restoring value to newly vacated stock."
To download the full report, please click here.