Despite take up and rental levels performing well in 2008, 2009 is set to be a very difficult year for the office market in Leicester. Take up in 2007 was 337,000 sq ft – this increased to 340,000 sq ft in 2008. However grade A rental values held firm at Â£16.50 and there is little sign that they will increase in 2009.
Compare this with a 17% rise in rental values in 200, before the credit crunch took hold.
However there has, according to local agents, been an increase in the number of enquiries from companies seeking upto 5,000 sq ft of space.
That is indicative of a nationwide trend where the larger, corporate requirements have been put on hold as companies take stock of the economic situation.
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