Demand for commercial property falls

Demand for offices, retail space and industrial property in Yorkshire fell during the first quarter of the year as a lack of movement on Brexit continues to deter investors and occupiers across the board, according to a new report.
Work cranes silhouetted against a spectacular sunrise in the centre of Leeds. Picture Gerard BinksWork cranes silhouetted against a spectacular sunrise in the centre of Leeds. Picture Gerard Binks
Work cranes silhouetted against a spectacular sunrise in the centre of Leeds. Picture Gerard Binks

The Q1 2019 RICS UK Commercial Property Market Survey found that incentive packages from retail and office landlords are picking up, although industrial property is still proving hard to come by.

Respondents also reported a rise in the number of vacant retail units and offices. However, available industrial property is still proving hard to come by in the region, with respondents reporting a fall in available warehouses and industrial units during the last quarter of the year.

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