Director Tom Holloway and Associate Director Craig Powell of
Holloway Iliffe & Mitchell have been quoted in the latest issue of the RICS
UK Commercial Market Survey (Q2 2014). This publication is widely read by
commercial property investors and occupiers looking to gain an insight into the
regional views of RICS Commercial Property Chartered Surveyors in their local
region.
Tom Holloway MRICS, Director, Holloway Iliffe & Mitchell
said:
“Diminishing stock levels are helping to put upward pressure on
rents and capital values across office and industrial sectors. Increasing
numbers of frustrated occupiers are being forced to readjust their requirements
and in some cases they are staying put, resulting in a slowdown in enquiries.
New development, particularly in the industrial market would be welcome.”
Craig
Powell, Holloway
Iliffe & Mitchell commented:
“Recent months have seen substantial interest in office buildings
being sold that are suitable for residential conversion using Permitted
Development (PD) rights and this has often created situations where you end up
going to sealed bids which has not been a feature of the office market since
before 2008. As PD rights are a short term measure, there are conflicting views
on future office values post PD as reduced supply could boost values but the
lack of permitted change of use may have the opposite effect.”
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