Professional services take-up in Cambridge has been dramatically dwarfed by take-up from technology, media and telecoms firms so far in 2018.
According to Savills data, the 261,792 sq ft of take-up by TMT firms is more than 4.5 times above that of professional services firms.
Take-up thus far in 2018 has hit 372,575 sq ft, 20.5% less than the whole of 2017.
Rob Sadler, head of Savills’ Cambridge office, said: “Tech continues to dominate Cambridge take-up in 2018, accounting for 70% of all transactions to date.
“In fact, office-based employment is forecast to grow by 3% by 2022, with specific sectors including science and technology forecast to grow by as much as 4% in the same timeframe.
“Consequently, strong occupier demand has led to pockets of supply constraints resulting in strong rental growth, with prime rents expected to hit £45 per sq ft by 2020.
“Crucially, Cambridge remains less exposed to any potential employment contractions in the case of a hard Brexit due to its limited reliance on professional and financial services occupiers.”
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