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By the end of 2012, the total office take up in the M27 area is expected to fall short of last year’s figures, according to a report by BNP Paribas Real Estate.
Our report is set out in three main sections: first an assessment of the global and national issues that will affect the Metropole economy over the next 12 months: secondly an assessment of the principal market sectors, and finally an analysis of the submarkets within each of the towns and cities in the Metropole area.
With the exception of a flurry of activity in December, investment activity has been extremely subdued since mid-2008. The expected depth and longevity of the current downturn has deterred most investors from all non-essential transactions.
While there is unlikely to be any new demand coming through from the public sector, we do envisage that there will still be new requirements from the banking, financial and professional service sectors.
“The completion of several large deals from the public and financial sectors meant that city centre take-up increased 72% to 170,000 sq ft in Q1.
A review of the performance of all property sectors over April.