Cardiff
Take-up
TOTAL TAKE-UP IN QUARTER (SQ FT)
CHANGE ON LAST QUARTER
CHANGE ON 10 YR QUARTERLY AVG
TAKE-UP (SQ FT)
Source: Avison Young
Q2 take-up totalled 74,611 sq ft, 10% below the 10-year quarterly average.
City Centre take-up was 42% below average levels, whereas the out-of-town market was 16% below average.
Key deals included:
- GoCompare’s 15,629 sq ft lease at the Hodge House;
- Starling Bank’s 14,445 sq ft lease at the Brunel House on the 14th floor.
- Specialist Finance Centre’s 3,268 sq ft lease at 19-20 Neptune Court.
Over the past 12 months, the dominant sectors were manufacturing and industry, government and professional services, together accounting for 73% of total take-up.
The city’s prime rent remained unchanged at £25.00 per sq ft.
NOTABLE DEALS
Source: Avison Young
PRIME RENT
Per sq ft
0.0%
Quarterly change
Source: Avison Young
0.0%
12 month change
Rent free months (10-year lease)
TAKE-UP BY SECTOR
Source: Avison Young
ANNUAL TAKE-UP (SQ FT)
Source: Avison Young
Availability
AVAILABILITY RATE
CHANGE ON LAST QUARTER
CHANGE ON LAST YEAR
AVAILABILITY (SQ FT)
Source: CoStar, Avison Young
The availability rate decreased 56 basis points to 8.6%, but premium quality space remains undersupplied with the grade A availability rate at 1%.
Development pipeline
DEVELOPMENT PIPELINE (SQ FT)
Source: Avison Young, PMA
106,390 sq ft of new speculative space is set to be delivered this year at No 1 John Street, and 33,896 sq ft refurbished space is due to complete in 2025 the Howells development.
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