The VSL commercial property report shows that 2021 was the year that saw laboratory demand and take-up soar with laboratories now accounting for 50 percent of all take-up within the Oxfordshire office sector.
The VSL INTEL annual report provides an analysis of the office and industrial market, focusing on central Oxford and the A34 ‘Innovation Knowledge Corridor,’ for offices from 3,000 sq ft and above and industrial from 5,000 sq ft and above. The key headlines for the office and laboratory market 2021 were as follows:
Richard Venables, director at VSL says: “The growth in Oxford University spin out companies is now leading to increasing numbers of larger property requirements as these companies receive further funding and seek to move from incubator space. Investors are now moving fast to satisfy this demand but there will be a lag of 18-24 months before this comes online and we anticipate continued rental growth. This is reflected in the record prices being achieved for real estate in Oxford.”
For the industrial and warehouse market the key headlines were as follows:
Tom Barton, director of VSL explains: “The sheer speed of the take-up of the new industrial and warehouse product has led to a shortage of good quality available space. This shortfall is likely to rumble through 2022 and mean take-up levels suffer in the coming year. As supply levels decrease in 2022, it is hard not to forecast further rental growth during the year to new record highs.”
Based on number of market transactions, VSL was involved in 75 percent of all industrial transactions and 44 percent of all office transactions in Oxfordshire.
VSL’s annual Oxfordshire market reports.View the market reports
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