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GVA Grimley predicts 'steady' commercial property rents
Rents for retail business property are likely to remain largely unchanged during 2010.
This is according to head of retail at GVA Grimley Jason Sibthorpe, who was commenting after a Cushman & Wakefield report suggested that prices are expected to stabilise this year following the eight per cent dip that occurred in 2009.
"I don't think rents are going to move much either way up or down," Mr Sibthorpe observed, adding that prices in London will "continue to be resilient" rather than recording any significant growth.
He said that although there are currently no "aggressive" expansion plans among businesses looking to increase their operations in the retail market, it does seem that more occupiers are looking to take up commercial property.
Cushman & Wakefield's report, which was published earlier this week, showed that although rents fell during 2009, the dips became softer as the year went on, indicating that stability should return this year.
This is according to head of retail at GVA Grimley Jason Sibthorpe, who was commenting after a Cushman & Wakefield report suggested that prices are expected to stabilise this year following the eight per cent dip that occurred in 2009.
"I don't think rents are going to move much either way up or down," Mr Sibthorpe observed, adding that prices in London will "continue to be resilient" rather than recording any significant growth.
He said that although there are currently no "aggressive" expansion plans among businesses looking to increase their operations in the retail market, it does seem that more occupiers are looking to take up commercial property.
Cushman & Wakefield's report, which was published earlier this week, showed that although rents fell during 2009, the dips became softer as the year went on, indicating that stability should return this year.
Fri, 26th Feb 2010