Spring Cheer In The Commercial Property Market
B4 Magazine Article Spring 2011
Q1 2011 has seen a cautious, yet optimistic start. The sunny Spring weather seems to have encouraged better enquiry levels and viewings across all sectors. Many occupiers are still preferring to renegotiate lease terms with their current landlords rather than relocate and deals in general are still taking a significant time to conclude.
The big news is the announcement that Centrica have agreed a pre let of over 80,000 sq ft at the Oxford Business Park, where they already have a smaller presence. This is the largest deal since Oxfam acquired new premises in 2003 and is a great boost to the local economy. This deal comes on the back of over 50,000 sq ft of deals at the Oxford Business Park in 2010.
The City Centre office market is still experiencing a lack of supply of quality space. The University of Oxford have recently acquired 16,000 sq ft of space at Beaver House in Hythe Bridge Street. We have received strong demand for Ebor House, Blue Boar Street which is currently under offer on a freehold basis and have just commenced the marketing of 16,000 sq ft at Ramsay House in St Ebbe’s.
Back to article list