Search
 

UK Property Demand Hits Two-Year High

LONDON-Occupier confidence has recovered from a two-year slump, and demand for commercial property hit a two-year high over the past six months, according to a new survey from the Confederation of British Industry and GVA Grimley.

By Graham Parker | Updated on January 15, 2004

LONDON-The latest six-monthly survey of property occupiers from the Confederation of British Industry and GVA Grimley shows a strong recovery confidence. Companies expect property holdings to increase in every UK region and sector over the first half of 2004.

The survey shows an overall balance of plus 19 per cent of companiesincreasedtheir property holdings over the past six months. This marks a significantturnaround since the first half of 2003 when a balance of five per cent ofcompanies decreased their property holdings. Companies expect a similarlevelof demand over the next six months, predicting an above average balance ofplus17 per cent.

Occupier demand for office space improved significantly over the last sixmonths. A balance of plus 11 per cent of companies reported an increase inoffice holdings, rising from a neutral balance in the previous survey. Theretail sector also saw holdings increase considerably, with demand rising byabalance of plus nine per cent, the highest figure for two years. But in the industrial market, although demand for distribution property increasedslightlyover the last six months, demand in the manufacturing sector was flat.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.