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Market Overview News
The commercial property market throughout Leicestershire undoubtedly strengthened again in the firstly two quarters of 2015. Across the board, almost regardless of size, demand for industrial or warehouse space to rent or buy increases week on week. Mirroring this, in the office sector, deals continue to be done primarily with leasehold disposals and again, with demand rising both rents and capital values are very much continuing their upward spiral.
The biggest problem facing potential occupiers in both the office and industrial/ warehouse sectors throughout both City and County is the lack of supply. Stock is being ‘snapped up’ quickly with demand showing no sign of diminishing even as we move towards the holiday period.
Near record values are being achieved on mid-range industrial space, and across all sectors values are now back to, and in many cases exceeding, pre-recession levels.
Will the situation continue? In the short term the answer appears to be ‘yes’ as developers in general refrain from speculative development and therefore the market for existing space, be it office or industrial/distribution use seems likely to continue its upward trend throughout the second half of 2015 with prices and rents likely to kick on once more.
If you are thinking of disposing of your premises, or if a fresh approach is needed to marketing your building, then please give me a call as we would be delighted to assist.