Office take-up in Southampton fell below 2009 levels last year, although headline rents reached £20 for the first time since the recession.
Availability increased by 31.3%, year-on-year, to 630,000 sq ft. However, that was from a 25-year low, according to figures from Savills.
Conversions to residential or student accommodation use alongside limited development has shrunk the amount of available space in recent years, although demand has been limited to smaller requirements.
Martin Hastelow, head of Savills Southampton, said: “Recent take-up has largely been for suites under 5,000 sq ft and overall demand has been limited, but there are now some signs of an increase in enquiry levels across a wider range of sizes.”
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