Eddisons comments on the latest RICS Commercial Property Market Survey
The Royal Institution of Chartered Surveyors (RICS) has just published its latest quarterly UK Commercial Property Market Survey (Q3 2021), headlined, ‘Offices beginning to see some green shoots while industrials remain robust’.
Commenting on the latest findings, Ben Green, director of Eddisons, said: “In terms of the Cambridge market, our experience is broadly in line with the UK picture reported by RICS. The industrial sector continues to perform strongly with good demand and very low supply, particularly around Cambridge with its general low stock levels.
As reported by RICS, we have also seen an upturn in office demand with the majority of enquiries being for high quality space in central Cambridge and the principal business parks. Unlike the UK as a whole, office supply has not risen reflecting the strength of the local economy.
In addition, the amount of available laboratory stock is almost zero due to the exceptionally buoyant life sciences sector. Retail vacancy rates remain steady in contrast to rising levels across the UK. The return of students and tourists to the city has increased footfall giving retailers a boost in prime locations. Investor demand remains very strong across all sectors with limited availability.”
For the full RICS Q3 2021 Commercial Property Market Survey, click here.