Supply and Demand Offices, Coventry

The current availability of vacant office space has remained at a peak level, as compared with the last six years, at circa 90000 sq m. However, annual takeup has continued at a reasonable level of 25000 sq m. Takeup in the last six years has remained at a level of 20000 – 30000 sq m per annum.

Most of the available space was built in the late 1960’s/early 1970’s and is in need of modernisation or redevelopment. By comparison, little new quality office space is available in the City Centre with availability on the Business Parks. Refurbishment of City Centre offices is being undertaken and new developments proposed.

Supply and Demand Industrial

The supply of industrial space has grown to circa 302000 sq m, a peak for the last six years. However, takeup has continued at a healthy level at circa 130000 sq m per annum and there continues to be good demand for all modern industrial/warehouse units, and older freehold premises, for occupation where suitable or redevelopment/refurbishment as appropriate. There is an insatiable demand for large warehouse units of 20000 sq m plus. The last units of this size on ProLogis Park having been sold/let. There continues to be an unsatisfied demand for development sites for industrial and warehouse accommodation, rather more than for offices.

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