Business parks' activity stalls

The annual GVA Grimley Business Parks Review, which monitors office space supply and demand on the UK's business parks, recorded the lowest level of take-up and construction activity in its history.

Covering the first six months of 2010, the research highlights transactions in Yorkshire and the Humber have fallen dramatically.

There were two notable deals at Midpoint Business Park, near Leeds, with chemical distributor Univar and supermarket chain Morrisons both signing deals for approximately 10,000 sq ft of office space. BP has taken approximately 17,000 sq ft at Bridge Haven One in Hull.

Yorkshire and Humber is one of the few regions to see stability, rather than a fall, in rental levels on its business parks. However generous incentives remain available, particularly in the form of rent-free periods.