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Duane Walker of Primmer Olds Chartered Surveyors provides his take on the South Central market.

Duane Walker of Primmer Olds Chartered Surveyors provides his take on the South Central market.With continued economic uncertainty agents comments on the market are varied to say the least.

 

The M27 region has traditionally been short on supply in the industrial market and there is evidence of some recovery in this sector with recent disposals being undertaken by Primmer Olds at Hamilton Business Park, Hedge End as well as potential pre-lets in place on a new speculative development of smaller industrial units at Romsey in Hampshire. 

 

In general market take up has been slow but there are certain sectors performing well and in particular an increase in demand from owner occupiers both in the industrial and office sectors.   Primmer Olds have been involved in a number of smaller transactions where local business owners see value in the marketplace and wish to secure their financial future by owning their own premises in what are still  very unstable conditions.  There remains a shortage of good quality space in the region and figures are being distorted by the over supply of poor quality near redundant space which has saturated the market in the last few years.  The market is in my opinion being further frustrated by increased levels of legislation and general cautiousness resulting in increased transaction times and due diligence processes.

 

It is widely considered that 2012 will continue to be a difficult trading year but with some signs of hope for improvements in both the prime and secondary markets going forward.

 

We believe we will continue to see owner occupiers seeking space for the ‘Personal Pensions’ as financial markets struggle and decision makers demand greater control over their futures.

Posted by The Editor (wantspacegotspace) on 13th February 2012 (updated 09/04/2013)

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