Office market in Cardiff looking good
September 24th, 2008 | by Adam LuckingIn the current economic climate it is hard to come by good news. However Choregus can report that there has been a positive level of activity in the Cardiff office space market specifically during the first part of the year.
Take up of office space in Cardiff in the first part of the year was around 220,000 sq ft which is 65,000 sq ft down on the same time period in 2007. However the number of transactions up to the half year is 80 compared with 91 in 2007.
Cardiff’s prime office space development, Callaghan Square, has seen some serious activity with Centrica talking all of No 4 which is around 68,000 sq ft. The British Transport Police took 13,600 sq ft in No 3. All of this means that only 54,000 sq ft remains available and there has been reported interest in 50% of that. All in all, Cardiff’s prime rent is likely to increase to £21 per sq ft for No 5 Callaghan Square.
Cardiff needs high quality buildings in central locations to attract businesses to the city to help further boost rental levels, but it seems as if this is a fair way off at the moment.
There is a trend appearing with high quality offices attracting the larger businesses. But some landlords are looking at offering a lower rental or even better incentives to get empty offices filled.
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One Response to “Office market in Cardiff looking good”
By James Jones on Sep 30, 2008 | Reply
As in a later post, which highlights Cardiff as a place to move your business to, its a highly recommended city to locate your office space in from us at Choregus.