XN000022-1986-02-06 — Page 4

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THURSDAY, FEBRUARY 6, 1986

PRIVATE DOMESTIC (LARGE UNITS 100 SQ. M AND OVER)

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THERE WAS A REDUCTION IN THE TAKE-UP OF LARGE DOMESTIC FLATS - FROM 2 850 IN 1984 TO 2 000 IN 1985. SUPPLY INCREASED FROM 1 400 IN 1984 TO 1 950 IN 1985, AND THE VACANCY RATE FELL ONLY SLIGHTLY FROM 6.4 PER CENT AT THE END OF 1984 TO 5.8 PER CENT AT THE END OF 1985.

THE SUPPLY OF 2 900 LARGE FLATS EXPECTED TO BE COMPLETED IN 1986 REPRESENTS A 49 PER CENT INCREASE ON THE SUPPLY IN 1985.

COMMERCIAL

SUPPLY IN 1985 WAS MUCH THE SAME AS IN 1984. WITH AN IMPROVED TAKE-UP IN 1985, VACANCIES HAD FALLEN TO 9.0 PER CENT OF TOTAL STOCK AT THE END OF THE YEAR.

THE SUPPLY OF NEW COMMERCIAL PREMISES IN 1986 IS FORECAST TO BE 213 000 SQ. M.

FLATTED FACTORIES

THE TAKE-UP OF 397 000 SQ. M IN 1985 WAS LESS THAN HALF THE 1984 TAKE-UP AND WAS ALSO LOWER THAN THE ACTUAL SUPPLY OF 456 000 SQ. M. CONSEQUENTLY, THERE WAS AN INCREASE IN VACANCIES.

EXPECTED SUPPLY IN 1986 WILL EXCEED THAT IN 1985 BY NEARLY 90 PER CENT.

OFFICES

ALTHOUGH THE TAKE-UP IN 1985 AT 385 000 SQ. M WAS LOWER THAN THE 1984 RECORD TAKE-UP OF 449 000 SQ. M. IT EXCEEDED THE 1985 SUPPLY BY 77 000 SQ. M. AS A RESULT, VACANCIES FELL FROM 561 000 SQ. M AT THE END OF 1984 TO 484 000 SQ. M AT THE END OF 1985 (I.E. 11.1 PER CENT OF TOTAL STOCK).

ONLY 72 000 SQ. M ARE FORECAST FOR COMPLETION IN 1986 AND THE MAJORITY (78 PER CENT) OF THESE ARE SECTOR 111 OFFICES.

A SUMMARY OF SUPPLY, TAKE-UP AND VACANCY IN THE MAIN SECTORS IS SET OUT BELOW.

THE SPOKESMAN STRESSED THAT THE FIGURES QUOTED IN THIS RELEASE ARE PRELIMINARY. FULL DETAILS WILL BE PRESENTED IN THE PROPERTY REVIEW 1986, EXPECTED TO BE PUBLISHED IN APRIL.

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