Swift action needed to increase quality office space

Jon Silversides, head of the Oxford agency at Carter Jonas

Jon Silversides, head of the Oxford agency at Carter Jonas

First published in News

OXFORDSHIRE needs new speculative office developments to keep up with demand.

That is the conclusion of a major new report into the sector after a major hike in take-up last year.

The Commercial Edge Oxfordshire 2014 research report, compiled by Summertown-based Carter Jonas, shows 185,517 sq ft of space was snapped up last year, a rise of 28 per cent on the previous year.

And it predicts rents could rise by almost 30 per cent from £23.50 per sq ft at the end of 2013 to £30 per sq ft this year.

Jon Silversides, head of the Oxford agency at Carter Jonas, said: “In line with improving take-up levels, Oxfordshire has witnessed a sharp reduction in vacancy rates with strengthening demand as a result of improving market conditions. The supply of good quality accommodation is now acutely low.

“Development activity remains acutely low throughout the regional markets. 101 and 102 Park Drive at MEPC’s Milton Park is the first speculative development within Oxfordshire for six years. The supply of good quality stock is now reaching acutely low levels.”

Mr Silversides warned that if development does not take place, the “overall future viability” of the county’s office market will be affected.

The report adds that Oxfordshire has significant development capacity but available land is largely concentrated in a limited number of business park locations.

But development at Milton Park and design and build activity in Banbury indicate a “much brighter future” for the county.

Our top stories:

Jury told fire started because businessman thought best man was having affair with wife

Oxford Mail:

8:29am Friday 22nd May 2015

A HOUSE fire that forced people to jump for their lives was started by a businessman who accused his best man of having an affair with his wife, a jury heard.

UPDATE: Missing woman Rachel Selby from Banbury found safe

Oxford Mail:

3:16pm Friday 22nd May 2015

A WOMAN who went missing from Banbury has been found, police said

Person hit by train between Slough and Reading likely to affect Oxford rail services to London

Oxford Mail: A First Great Western High Speed Train

3:24pm Friday 22nd May 2015

TRAINS from Oxford could be disrupted after a person was hit by a train between Slough and Reading.

Teenagers arrested after robbery in Hythe Bridge Street

Oxford Mail: Thames Valley Police logo

3:23pm Friday 22nd May 2015

TWO teenagers have been arrested after a robbery in Hythe Bridge Street.

Oxford United stepping up interest in striker Ryan Taylor

Oxford Mail:

9:30am Friday 22nd May 2015

Ryan Taylor remains firmly on Oxford United’s radar despite the signing of Kemar Roofe, according to head coach Michael Appleton.

UPDATE: Broken down van removed from near Water Eaton park and ride

Oxford Mail: Traffic Alert general

7:54am Friday 22nd May 2015

ALL LANES have reopened on the A4165 Oxford Road after a earlier incident involving a broken down van.

Comments (1)

Please log in to enable comment sorting

5:24am Sat 28 Jun 14

Centennial centennial says...

Wow! You’ve certainly done a great job by posting this bit of information for the benefit of us viewers. It’s so great to know that the Internet is not a dumb place after all.
Wow! You’ve certainly done a great job by posting this bit of information for the benefit of us viewers. It’s so great to know that the Internet is not a dumb place after all. Centennial centennial
  • Score: 0

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree