COMMERCIAL
WEDNESDAY, FEBRUARY 1, 1989
5
SUPPLY OF COMMERCIAL SPACE AT 238,000 SQUARE METRES WAS SOME 16 PER CENT DOWN ON THAT IN 1987 AND IS EXPECTED TO DROP FURTHER IN 1989 TO 205,000 SQUARE METRES.
TAKE-UP WAS WELL DOWN ON 1987 WHICH WAS AN EXCEPTIONAL YEAR. AS A RESULT, VACANCIES IN ABSOLUTE TERMS INCREASED ONLY MARGINALLY BUT AS A PERCENTAGE OF STOCK, REMAINED MUCH THE SAME.
FLATTED FACTORIES
SQUARE METRES 1987.
SUPPLY IN 1988 WAS THE HIGHEST SINCE 1979 AND AT 1,138,000 METRES, WAS SIGNIFICANTLY IN EXCESS OF THE 870,000 SQUARE FORECAST AND WELL UP ON THE 541,000 SQUARE METRES SUPPLIED IN COMPLETIONS ARE FORECAST TO BE HIGH AGAIN IN 1989.
TAKE-UP WAS DOWN BY 27 PER CENT ON 1987 WHICH, COUPLED WITH THE SIGNIFICANT SUPPLY, FORCED VACANCIES UP FROM 1.7 PER CENT OF STOCK IN 1987 TO 4.7 PER CENT IN 1988.
GENERAL
A SUMMARY OF SUPPLY, TAKE-UP AND VACANCY IN THE MAIN SECTORS IS
ATTACHED.
IT SHOULD BE NOTED THAT THE FIGURES QUOTED ARE PRELIMINARY ONLY. FULL AND FINAL FIGURES WILL BE SHOWN IN THE 1989 PROPERTY REVIEW, WHICH IS EXPECTED TO BE AVAILABLE IN APRIL.
THE DEFINITIONS OF FLOOR AREAS IN THE 1989 PROPERTY REVIEW WILL BE THE SAME AS THOSE IN THE 1988 EDITION.
PRIVATE DOMESTIC (ALL CLASSES)
(NO. OF UNITS)
SUPPLY
TAKE-UP
VACANCY
X*
1986
34,100
30,300
24,700
3.9
1987
34,400
35,100
22,300
3.4
1988
34,500
33,900
20,200
2.9
1989
[37,700]
"PRIVATE
DOMESTIC" EXCLUDES FLATS BUILT UNDER THE OWNERSHIP SCHEME AND THE PRIVATE SECTOR PARTICIPATION SCHEME.
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*VACANCY AT THE END OF THE YEAR AS A PERCENTAGE OF TOTAL STOCK.
/PRIVATE DOMESTIC