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July 1, 2022
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Offices buck downward trend for UK commercial property market

Capital values across UK Commercial property fell by -0.3 percent in February 2019, according to the latest CBRE Monthly Index. Rental values fell by -0.1 percent and total returns were 0.2 percent. However, for the thirteenth consecutive month the Office sector recorded positive capital values, rental values and total returns. February 2019 recorded capital value growth of 0.1 percent and total returns of 0.5 percent. Rental values increased marginally by 0.1 percent. West End & Midtown offices were the only submarket to record a fall in capital values (-0.1 percent). Outside of London, UK offices pulled up the sector average with capital value growth of 0.2 percent in February.

The Retail sector continued to struggle, suffering a -1.0 percent fall in capital values in February 2019. Capital values, rental values and total returns were all negative again for the 6th consecutive month. Shopping Centres recorded the second greatest fall in capital values since July 2016, of -2.1 percent, as rental values fell by -0.8 percent. This pushed total returns for the month to -1.6 percent. High Street Shops reported a decline in capital values of -0.3 percent, while Rental values were flat. Retail warehouses experienced falls in both capital values (-0.9 percent) and rental values (-0.5 percent),

The Industrial sector again provided a boost to overall results in February. The South East submarket performed strongest, recording 0.5 percent growth in capital values and 0.3 percent growth in rental values. However, Rest of UK experienced a fall in capital values (-0.1 percent).

According to Robin Honeyman, Research Analyst at CBRE UK: “February continued the slow start to the year and whilst the Office and Industrial sectors maintained a steady path, the turbulence witnessed in Retail, in particular in Shopping Centres has shown no signs of abating.”

The post Offices buck downward trend for UK commercial property market appeared first on Workplace Insight.

Offices buck downward trend for UK commercial property market
Offices buck downward trend for UK commercial property market
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