XN000022-1987-02-09 — Page 3

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MONDAY, FEBRUARY 9, 1987

SUPPLY OF NEW COMMERCIAL PREMISES IN 1987 IS EXPECTED TO EXCEED THE 1986 FIGURE BY ABOUT 70 PER CENT.

FLATTED FACTOR LES

TAXE-UP OF FLATTED FACTORY SPACE IN 1986 WAS NEARLY DOUBLE THAT IN 1985. AT 787 000 SQ. METRES, THE 1986 TAKE-UP CONSIDERABLY EXCEEDED THE YEAR'S COMPLETIONS OF 611 000 SQ. METRES. CONSEQUENTLY, VACANCIES FELL TO 516 000 SQ. METRES AT THE END OF 1986, OR ONLY 3.8 PER CENT OF TOTAL STOCK.

COMPLETIONS IN 1986 WERE WELL BELOW FORECAST BUT STILL SHOWED AN INCREASE OF 34 PER CENT OVER THOSE IN 1985.

THE SUPPLY OF NEW FLATTED FACTORIES IN 1987 IS FORECAST TO BE 800 000 SQ. METRES.

OFFICES

SUPPLY IN 1986 SHOWED A DRAMATIC FALL COMPARED WITH 1985. THE 46 000 SQ. METRES OF NEW OFFICE SPACE, ONLY ONE-THIRD WAS IN THE ESTABLISHED COMMERCIAL DISTRICTS.

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ALTHOUGH TAKE-UP DROPPED FROM 385 000 SQ. METRES IN 1985 TO 256 000 SQ. METRES IN 1986, IT REPRESENTED MORE THAN FIVE TIMES THE YEAR'S SUPPLY, AND THIS LED TO A SIGNIFICANT DROP IN VACANCIES TO 266 000 SQ. METRES AT THE END OF 1986, REPRESENTING 6 PER CENT OF TOTAL STOCK.

COMPLETION OF NEW OFFICE SPACE IN 1987 IS FORECAST TO INCREASE SUBSTANTIALLY, TO A LEVEL OF ABOUT 250 000 SQ. METRES.

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

THE SPOKESMAN STRESSED THAT THE FIGURES QUOTED ARE PRELIMINARY FULL DETAILS WILL BE PRESENTED IN THE PROPERTY REVIEW 1987, WHICH IS EXPECTED TO BE PUBLISHED IN APRIL.

THE DEFINITIONS OF FLOOR AREA FOR THE 1987 PROPERTY REVIEW WILL BE THE SAME AS THOSE FOR THE 1986 EDITION.

/PRIVATE DOMESTIC