A two-tier market has become increasingly evident within Oxfordshire’s commercial property market according to Carter Jonas’ Commercial Edge Oxfordshire research report covering the office and industrial markets in Oxford city centre, Abingdon, Witney, Harwell, Didcot, Bicester and Banbury.
Enquiry levels by businesses looking for new or alternative office space have remained broadly buoyant within Oxford’s City centre in contrast to the out of town locations where greater availability is enabling occupiers to strike strong deals.
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Jon Silversides, senior associate, commercial team in Carter Jonas’ Oxford office said: “Despite continuing uncertain economic times, Oxfordshire is well placed to both weather the storm and grow due to its diverse economy and specialisms, which range from motorsport, biotechnology and engineering through to the UK space agency at Harwell.
“Rental and incentive levels are likely to remain static across the county for existing stock in 2013. However, with no Grade A stock in the industrial sectors and only one unit in the office sector, developers would be in a stronger position to dictate terms for design and build solutions.
“Over the longer term, subject to the availability of sites, we anticipate that any new development in Oxford City Centre will be able to command premium rentals due to scarcity of supply.
“In 2013, Oxfordshire will continue to retain and attract a diverse range of businesses as it capitalises on its position as a centre for innovation, which will benefit not only the County but businesses and their workforces.
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