A snapshot of the commercial property market in Swindon shows a buoyant market for warehousing, little demand for office space – as work from home continues to impact the sector – and demand for retail premises picking up.
RICS Commercial Market Survey for Q2 2021 echoes the local findings.
Commercial property agent Andrew Kilpatrick of Kilpatrick & Co, who contributes to the nationwide report, said: “Swindon’s commercial market is gradually showing signs of more activity as lockdown has eased, even in the secondary retail sector.
"Demand for offices continues to be slack, but as yet there is no big increase in the supply of vacant properties.
"The industrial/distribution sector continues to be buoyant."
Nationally, 56 percent of surveyors sensed an upturn in conditions, compared to 38 percent in Q1.
The demand for industrial and warehousing was at +63 percent, compared to +57 percent in Q1, with contributors expressing concerns that availability had declined and shortages were becoming apparent.
Demand for offices was recovering at -3 percent from -34 percent in Q1.
The retail sector, meanwhile, remained challenging, albeit also showing a recovery from -55 percent in Q1 to -25 percent in Q2.