Severe shortage of offices

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THE long-awaited economic recovery combined with recent changes to the planning system mean the south coast could soon face a severe shortage of office space, according to property consultants, JLL.

It runs the risk of curbing economic growth, its South Coast Metropole report says.

Speaking at JLL’s annual Metropole breakfast Michael Green, lead director in JLL’s Southampton office, said: ‘At long last Southampton and the south coast region is seeing strong economic 
growth, which has brought about a welcome boost to the market.

‘But we risk stopping that economic growth in its tracks if the region cannot meet the growing demand for commercial property – and just as importantly, the right kind of property.

‘With a keen eye on staff recruitment and retention, occupiers are demanding much more from their space.’