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It has published its biannual 50 Centres report, a guide to prime office In the six months to March 1998 there were 18 prime transactions recorded, 16 of these showed a rental increase and only one decreased Across the 53 centres the average prime rent now stands at .50, showing an annual increase of (5. 1%). Levels of take-up continue to rise, despite quality supply shortages although occupiers are increasingly resorting to Grade B and refurbished accommodation to satisfy demand. Achievable rents have increased in 24 centres and fallen in only one.



Thus, costs climbed drastically, and numerous individuals accepted property valuation estimations Occupier demand for industrial/warehouse accommodation remains strong, with a perceptible increase since September 1997. This is reflected by achievable rents rising in 23 of the centres surveyed, with only two showing a decline.

The main occupier activity is focused around the UK's arterial routes, most notably the intersection of the M42, M6 and M I In the South, the lack of speculatively built product and available land is creating rental growth notably in the London sectors North and West and the M4/M3 corridors.

Current levels in the six months to March 1998 have shown eight recorded prime industrial transactionswith increases in five centres. The South East region & WI has the highest average achieved rent of 50, compared to 25 across all the centres. Demand for prime space by operators remains fiercely competitive in the premium centres, and with good-sized well-configured units in short supply there is considerable pressure for rents to keep rising, in some instances at a rapid rate.

Significant rises have occurred across the country in centres such as Manchester (25%), Edinburgh (22%), Croydon (1 9%) Andrew Guiliford, Partner in Jones Lang Wootton's National Development & Industrial team.We are seeing increased occupier activity and this coupled with constrained supply of both product and consented land in many areas is leading to significant rental growth. Higher rents, longer leases and lower tenant incentives will continue to become the norm.

The distribution sector is still characterised by occupiers with larger requirements preferably seeking freehold land or short leases on buildings however, again due to diminishing supply in certain areas we anticipate longer leaseholds are likely to be imposed on occupiers by those controlling product.