The latest RICS Commercial Market Survey for Quarter 2 2013 reports an improvement in the occupier market across the UK, with total floorspace on the market falling for the first time in six years, albeit only marginally.
The RICS Property Rental Expectations Index has turned positive the first time since 2007, with incentive packages offered by landlords now stabilising in response to the slightly improved market conditions. On a sector by sector basis the survey reports the retail sector remaining weakest, the office market outside London being stable, but the industrial/distribution market appearing strong across all regions, with tenant demand increasing and vacant stock decreasing.
RICS Commercial Market Survey contributor Andrew Kilpatrick of Kilpatrick & Co said, “At last there are tentative signs of improved activity and optimism in Swindon’s commercial property market, helped by the news of one of the biggest town centre office lettings since the Recession, with 15,239 sq ft at Station Square being let to PrePay Solutions. In the retail sector, there is the prospect of Waitrose coming to Whichelstow,
M&S Simply Food to Mannington, Morrisons to Dorcan Way and Regent Circus and an expansion of the Outlet Centre”.
