Bournemouth Office Space Market is Lively

In Bournemouth, judging by recent transactions, the picture is more optimistic, said Bill Parker of Goadsby. “We have seen strong interest in prime office space, exemplified by the 2,369 sq.metres (25,500 sq.ft.) 2 Poole Road which was bought by Troika Developments a year ago and has now been Goadsby has achieved four deals in the property which are either completed or in solicitors’ hands at a quoting rent of £172.16 a sq.metre (£16 a sq.ft.). Parker said: “The success of this deal has persuaded Troika to refurbish the similarly sized Waverley House.” “There is demand for the right product because older offices have become more costly to manage. The problem is that banks are not providing the funds for refurbishment.”

The other positive transaction on the south coast was Southampton City Council paying £25 million for the 6,689 sq.metres (72,000 sq.ft.) One Guildhall Square in Southampton. “With no new construction due to start, there has been speculation that the lack of prime office space will ease downward pressure on rents for Grade A space and high quality Grade B space as the market will be led by a general decreasing supply of quality stock towards the end of 2010,” said Parker. Goadsby has also achieved success at Arcadian Estates’ Capital House with lettings of 2,193 sq.metres (23,600 sq.ft.) and a further tranche under offer. Andrew Hodgkinson of Goadsby said: “It is a real success story for Southampton. Several of the floors have been let to companies who previously did not have a presence in the city, which is an undoubted boost to the local economy.” The quoting rent is £91.46 a sq.metre (£8.50 a sq.ft.).

The South Coast Central Commercial Property Register

The http://www.compropregister.com/southcoastcentral.aspx"> South Coast Commercial Property Register is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space on the South Coast, Serviced Offices on the South Coast and commercial property on the South Coast. You can also find the latest commercial property news for the South Coast region.