Occupier activity within commercial sectors looks promising
Despite uncertain forecasts over the past months following the outbreak of the COVID-19 pandemic, occupier activity within specific commercial sectors remains extremely encouraging, backed up by continuing speculative development.
Across the region’s key locations including Silverstone Park, The Oxford Science Park, Milton Park and Harwell, we have continued to see transactional activity as occupiers look towards the future. 60% of the recently completed, lab compliant, Bellhouse Building at The Oxford Science Park is under offer or let, whilst 90% of the latest 245,000 sq ft speculative scheme at Silverstone Park is likewise let or under offer.
At Witney, our client Tungsten Properties is underway with both a speculative and pre-committed scheme and, with completion due next May, current interest for the speculative element points to the space all being pre-let or sold by completion.
Of course, we cannot ignore the challenges facing the commercial property sector within the region, however as we go forward, we should not forget the strength of the Oxfordshire economy that we operate in.
View our latest Oxfordshire commercial property market update video here
For further information, please contact:
Jon Silversides
Partner, Commercial
07720 537141
jon.silversides@carterjonas.co.uk
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