Surrey towns wrestle with low levels of available office space
Demand remains high but supply has dipped to historically low levels.
In Reigate, for example, availability stands at just 8,000 sq ft. There is more space available in Redhill, both new and refurbished, but it still only totals 117,000 sq ft. The average availability rate across the two towns is 5%.
Total take-up in the two towns was 80,000 sq ft last year, similar to the space taken in 2016 but more than double 2015’s figure. So far this year, around 40,000 sq ft has been let in Redhill, with an additional 12,500 sq ft under offer.
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