Yorkshire commercial property demands increase

Demand for commercial property in Yorkshire and the Humber is increasing despite falls across the country, the Sheffield Star has reported.

The Royal Institution for Chartered Surveyors (RICS) said Yorkshire is the only area where inquiries from occupiers are increasing, with the office market in the area remaining stable.

Available office space rose for the first time in four-and-a-half years and available office and retail space rose at the fastest rate on record.

There has also been a record increase in available industry space.
RICS Yorkshire spokesman Richard Corby told the newspaper a fall in new commercial developments means oversupply will be avoided.

"However, the supply of second-hand space has substantially increased across the region and consequently the incentives available to tenants are better than ever," he said.

Landlords are keen to secure tenants because of the loss of Empty Business Rate Relief meaning prospective tenants can push for the best deals and vendors must be realistic with their pricing, he added.

At last year's Yorkshire's Finest Property Awards, Howard Cook Builders won the award for best commercial development for industrial property for Ponderosa Park in Heckmondwike.

Watson Batty Architects won the awards for office property for its head office in Guiseley.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.