Demand for both industrial and office space increased significantly in Worcestershire in 2014, according to according to one of the county’s leading commercial property agents.
John Dillon, partner at commercial property consultancy GJS Dillon LLP, which has offices in Worcester and Bromsgrove, says that the Worcestershire commercial property market has undergone a shift change in the past 15 months.
He says: “At the start of 2014, there was a shortage of occupiers for the available stock, now there is an increasing shortage of stock for occupiers. We have got clients on our books waiting for space to become free across all of the county from Bromsgrove, Droitwich and Redditch in the north of the county down to Malvern and Worcester.”
Worcestershire experienced a 25% increase in take up of industrial and warehouse space from 4,071,106 sq ft in 2013 to 5,067,222 sq ft in 2014, while take up of office space went up by nearly 20% from 356,293 sq ft in 2013 to 425,759 sq ft last year. (Figures supplied by CoStar).