Nottingham office market 'needs collaboration'

Partnerships and collaboration are required to maintain office space supply in Nottingham, a regeneration expert has said.

Article posted: 25 Jan 2011

Property agents and city council members must work together to maintain the supply of office space in Nottingham, according to one local expert.

Speaking at the Invest in Nottingham Commercial Office Market Review, Mike Taylor of Nottingham Regeneration Limited said a lack of collaboration is likely to result in a shortage of Grade C office stock, Insider reports.

However, he also noted a "marked sense of optimism around the city" regarding new development opportunities for commercial property.

"It's all about partnerships and collaboration - that's the name of the game," Mr Taylor commented.

He said Grade C properties currently account for just 13 per cent of the total office space in Nottingham and claimed more "flexible thinking" is required in the planning process.

Earlier this month, King Sturge partner Matthew Smith said the East Midlands office market enjoyed a strong level of activity in 2010.

He told Insider the sector was boosted by major firms choosing to rent offices in Nottingham, such as E.ON's 105,000 sq ft pre-let at the Guildhall site.

Posted by Aree J Rand