Rental market recovering, says DTZ
Northampton's rental market showed signs of growth in the first quarter of 2011, according to property agent DTZ. The rental market across the East Midlands began to recover with lettings totalling 1.2 million sq ft.
The llettings were said to be dominated by smaller buildings, said DTZ's Research’s Property Times UK Industrial report.
In the East Midlands the 50,000 to 100,000 sq ft size range was the most active.
The report found that new supply remains limited, resulting in an abundance of grade B quality stock.
Philip Glenn, head of DTZ’s Nottingham office, said: "Our research shows clearly that there remains a two tier market with the prime sector still holding up reasonably well and the secondary sector continuing to struggle.
"However better secondary stock may experience improved demand as a result of falling availability of prime property and low development activity.
"This may not be enough however to have a big impact on the gap in values between prime and secondary in the short term."
