2016 is gone...
24 January 2017 By George Dobson BSc (Hons) MRICS
But let’s look forward to 2017!!!
The commercial property market as a whole in Brighton and Hove, remained buoyant despite the uncertainties that arose after the Brexit decision in June.
Office rents have continued to rise, with rents of £28.00 psf on Grade A, £23.50 psf achieved on secondary specification office space and £25.00 psf being achieved on space of circa 1,800 sq ft in central Brighton.
Premiums for restaurant space have exceeded expectations and figures of £50,000 have been achieved in the North Laine. Retail space in the city has remained low in terms of voids, which is a stronger showing compared to other local south east areas.
Industrial stock has continued to be sought by local and outside of the area occupiers, with very much demand out weighing supply. Rents of newer stock have reached in excess of £14.50 psf.
Development in the city has once again been challenging, however the student accommodation sector has enjoyed the successful acquisition of a number of sites on the Lewes Road corridor. More interest is being received and further site negotiations are on-going to secure further student beds in the city.
Let's hope for continued property success and a prosperous 2017!
For any commercial property disposal advice in Brighton & Hove or surrounding areas, please contact George Dobson on 01273 701070 or [email protected]