According to the latest RICS Commercial Property Survey for Q2, 2015, strong demand from property developers and occupiers alike is the current trend, with no sign of waining. For 9 consecutive quarters the supply of available floor space has been falling, with demand from occupiers rising for 11 consecutive quarters, resulting in RICS Survey contributors reporting anticipated rent and price increases, both in the short to mid term. The office and industrial sectors show greater growth than the retail sector.
RICS Survey contributor Andrew Kilpatrick of Kilpatrick & Co has said “Available floorspace for Grade A offices in Swindon town centre is falling with vacant offices being converted into residential, but H&M have relocated to a 20,000 sq ft store in The Parade, the largest retail letting for some time. The town centre is still suffering from high vacancy levels, partly because of the high business rates still applying thanks to the postponement of the 2015 rates revaluation. The one glimmer of light in a struggling sector is the big H&M letting”