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Station Square Swindon

Commercial property market looks cheerier, says new report

Things are looking cheerier in Swindon’s commercial property market, according to chartered surveyor Kilpatrick & Co.

The company, which contributes to the national RICS Commercial Property Market Survey, says there are “tentative signs of improved activity and optimism” locally.

The RICS Commercial Property Market Survey for the second quarter reports an improvement in the occupier market across the UK, with total floorspace on agents’ books falling for the first time in six years, albeit marginally.

The RICS Property Renal Expectations Index has turned positive for the first time since 2007, with the industrial and distribution market performing strongly, and the office market remaining stable. Retail property continues to be the weakest sector.

Andrew Kilpatrick said: “At last there are tentative signs of improved activity and optimism in Swindon’s commercial property market, helped by the news of one of the biggest town centre office lettings since the recession, with 15,239 sq ft at Station Square being let to PrePay Solutions. 

In the retail sector there is the prospect of Waitrose coming to Whichelstow, M&S Simply Food to Mannington, Morrisions to Dorcan Way and Regent Circus, and an expansion of the Outlet Centre.”