Pressure on the centre

Article Abstract:

The supply of office space in Cardiff, Wales, is outstripped by demand, with reduced availability of high quality office buildings. Local agents have suggested the two prime buildings remained without tenants, in 1996, due to their rents being too high for the market. Renovated buildings have been popular with some tenants. The take-up of office space increased by 170,000 sq ft from figures for 1996 to reach 470,000 sq ft, in 1997. Some agents forecast there will not be enough available office buildings to satisfy prospective tenants if demand reaches over 350,000 sq ft, during 1998.

Buildings and facilities, Office buildings, Cardiff, Wales

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Expansion into other quarters

Article Abstract:

There is a short supply of large office space in the centre of Newcastle, England, with local agents reporting they cannot meet the needs of some clients. The out-of-town business parks are becoming more popular. Some 257,000 sq ft of space was let in out-of-town sites during Aug 1998-99, compared to 185,000 sq ft in the city centre. Newcastle has declined in popularity with office workers. In the 1999 Healey and Baker survey it came 11th whereas in 1998 it was first. The city is very accessible, with one study showing some 64% of workers used public transport.

Analysis, Real estate development, Offices, Newcastle upon Tyne, England

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