Experts warn of South East office space “perfect storm”
Experts have warned that in the next 12 to 24 months in the South East of England, there is expected to be a shortage in supply of office space which will drive up rents. A combination of factors including most of the available space already being taken, insufficient new space becoming available, increased construction costs with the additional factors of Brexit, covid and the Ukraine crisis all contributing.
Higher rents are then driving the quality of finish that tenants expect. Outdoor space has increased in importance and energy ratings are now playing a bigger part in the market. One solution is getting creative and converting some of that high street retail that is unoccupied.