Market Insight
Swindon Office Market Overview – Spring 2023
The effects of Brexit, Covid-19 and the ongoing war in Ukraine have combined to create very challenging conditions for the local office market to navigate. Although the new norm appears to be one of increasing uncertainty, is the picture all doom and gloom, or are there reasons for optimism in this sector of the local commercial property market? In truth, a valid argument could be made for both points of view.
Swindon Industrial Property Market Review – Winter 2023
Occupational Market
2022 was another strong year for industrial take up in Swindon, ending the year at approximately 1.2 million sqft in 65 transactions. This matched the previous year although in a complete reversal of 2021, 70% of the transactions took place in the first half of the year whilst 45% were compressed into the first quarter.
Given the lag between deals being agreed and completing, a significant proportion of the requirements originated in 2021 as the pandemic continued to fuel demand for logistics space, particularly in the 3PL and online retail sectors. It also highlighted the strong recovery from the 2020 recession and ongoing supply chain issues attributable to Brexit.