Occupier sentiment continued to improve during 2014 with take up during H2 reaching 497,000 sq ft which represents the strongest half year take up since 2008. Notably HS2 took 100,000 sq ft of Grade A space into Snowhill towards the end of the year.
The majority of deals in H2 were in the fringe of the city and not the core largely due to diminishing supply of better quality space. There are, however, increasing numbers of occupiers seeking value for money not just via low cost, but through the acquisition of better quality, well located space in order to attract the best talent ahead of the competition and to sustain or improve the company image. The focus amongst occupiers upon better quality space within the City Centre is expected to continue during 2015.
Source : DTZ