High demand sees out of town rents rise by 15%

A shortage of prime office space in UK leading cities is increasing the demand for office property in out of town locations pushing rents up by around 15%. According to a Weatherall Green and Smith UK office report, for the first half of 2000, demand for office space in regional UK centres outstripped supply. Strong out-of-town activity can be seen in regional areas including Solihull and Salford, which are becoming more attractive alternatives to Birmingham and Manchester respectively. Mark England, partner at Weatherall Green and Smith, said: "A shortage of grade A speculative developm...