Office take-up in the Thames Valley in 2011 was static at 1.7m sq ft – the same as 2010.
Lambert Smith Hampton also calculated that take-up between October and 31 December stood at 387,753 sq ft in the Thames Valley, compared to 704,922 sq ft in Q4 2010.
However, LSH said the changes in take-up were related to lease expiry dates, rather than being economically driven.
Of the 12m sq ft available in the region, only 28% is grade-A, and with almost no spec developments in the pipeline, landlords are advised to refurbish secondary stock to make it more desirable.
“Between 2013 and 2014, we forecast that there will be serious grade-A supply shortfalls in several Thames Valley regional locations,” said a LSH spokesman.
joanna.bourke@estatesgazette.com
