Activity in the South East’s office market seemed to hit
something of a slump in 2017; while deals were still being made, with key
transactions including the likes of technology business Fiserv acquiring 28,000
sq ft at Brockton, the opening of Landid’s new The Porter Building in Slough,
and employee benefits group Grass Roots taking 44,000 sq ft at Westside in
Hemel Hempstead, these deals were generally smaller in scale than those seen
over previous years.
This is attributed by real estate advisor Savills to a
number of factors, though uncertainty caused by the Brexit vote is given much
of the blame for the apparent lack of corporate activity. Despite this, Savills
said it expected a considerable uptick in 2018 as businesses are forced into
making key property decisions they have until now put off in the hope of
gaining further clarity beforehand.
The increased focus on happiness and wellbeing now
rightfully spreading through the professional landscape also plays its part in
the renewal of corporate activity, as companies begin to make the move into
properties which better exemplify these ideals. As recruitment and retention
look set to become increasingly difficult as competition in the job market
increases, this will only become further pronounced over time.
Jon Gardiner, head of national offices at Savills,
commented, “Whilst take-up in 2017 has been muted, we are confident that larger
corporate occupiers will resume making decisions in 2018 and commit to new
space.
“With a new impetus on wellness and fierce competition to
both attract and retain staff, companies with tired, old and uninspiring
accommodation are recognising the need to be located in modern office buildings
that provide plenty of amenities.”
Sam Bonson
Sam
is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently
working as a content writer, journalist & editor as he continues to expand
his horizons.
Post A Comment:
0 comments so far,add yours