Southampton office market slumps as lack of availability starts to bite

Oceana House Southampton

Number of deals down but demand for smaller office space is growing.

In the year to 30 June, 20 deals completed, compared with 37 in the same period of 2017. There were only four deals of 5,000 sq ft or more totalling 39,955 sq ft in the first half of this year, compared with 10 deals totalling 84,675 sq ft last year.

It was not all bad news, however. In the second quarter of this year, 16 deals completed totalling 50,778 sq ft – five more deals than in the first quarter.

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