CB Richard Ellis (CBRE) makes the point that 77% of the take up in the first six months of the year was in second hand space. At the same time, the imbalance in supply worsened as second hand space took a larger proportion of the 259,293 sq.metres. CBRE’s Will Ventham said: “It is unlikely that, apart from Two Snowhill, any new speculative space will come to the market in the foreseeable future, albeit Goodman may be reviewing options at Eastside.” On the other hand, the appetite for investments is undiminished.
CBRE’s Justin Marshall commented: “The appetite for larger, prime assets in the central business district from the UK and overseas funds should continue, while the stabilisation of rents and incentives should see the return of a number of funds and property companies to the market for more asset intensive buildings.”
CBRE’s Justin Marshall commented: “The appetite for larger, prime assets in the central business district from the UK and overseas funds should continue, while the stabilisation of rents and incentives should see the return of a number of funds and property companies to the market for more asset intensive buildings.”
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