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Serviced offices in Cardiff could provide 'window of opportunity'25th August 2010

Businesses in serviced offices in Cardiff might be able to take advantage of the economic climate in order to negotiate better lease terms.

That is the view of Matthew Phillips, managing partner of chartered surveyor Knight Frank's Cardiff office, who told the Western Mail the occupier market is being driven by tenants.

The UK's struggling economy has forced landlords to become more flexible, he continued, in order to ensure their buildings are occupied.

Mr Phillips said: "Those tenants with good covenants are using this window of opportunity to move and improve on their accommodation on competitive lease terms."

He noted in Cardiff, firms such as Deloitte, M&A Solicitors and KPMG have announced relocations in recent months.

But incentives will begin to fall towards the end of this year, Mr Phillips added, and as such businesses may wish to take advantage of their strong position now.

Earlier this month, research conducted by Reita revealed the number of independent financial advisers expecting a fall in commercial property prices increased fourfold between January and July.
 

 

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