March 2011 - Demand for Small Industrial and Warehouse Market Remains Solid
Whilst the market for larger space remains quite challenging, the small unit market in Oxfordshire has proved very resilient during and after the recession. Some of the lower quality schemes have suffered with deals for space below cost level for developers in Carterton and Bicester at around £50 per sq ft. Prices in prime locations such as Kidlington and Oxford have started to rise again with increased levels of demand and supply levels diminishing. The Government's policy of empty rates on dustrial space has effectively killed off any prospect of speculative development in the near future with the exception of Glemnore's proposed new scheme at Langford Locks in Kidlington. Glenmore Developments are specialists in the small unit market for industrial, office and high tech units and, being privately funded, have less issues than most developers trying to move schemes forward. We think the scheme is just the type of thing that occupiers need.
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