Knight Frank: Cardiff only major UK city to see prime office space rents rise
Cardiff is the only major UK city which has seen prime office space rents rise this year, according to research by Knight Frank.
The chartered surveyor’s 2009 winter office market activity report for South Wales showed that the first £21 per square foot deal was reached in the second half of the year when architecture firm, B3 Burgess, took on just over 4,000 square feet at the Callaghan Square scheme in the centre of Cardiff. A second £21 per square foot deal was reached in October when corporate law firm M&A Solicitors – together with corporate finance firm Gambit – signed up to just over 10,000 square feet at the 3 Assembly Square scheme in Cardiff Bay. Knight Frank have also predicted that office markets in Swansea and Newport also have a chance to pick up in 2010, if new space becomes available. (more…)