Office Sector - The office market had a slow start to 2010 with low levels of tenant demand in the face of an over supply of office accommodation both in the city and out of town.  The imbalance of supply and demand coupled with the property owner’s liability for empty Business Rates after three months has suppressed rental levels and more flexible lease terms are becoming a common feature.  Now half way through the year and the market has adjusted.  Post Emergency Election we are starting to see a steady increase in tenant demand for leasehold accommodation.

The demand for freehold offices remains buoyant with low interest rates continuing to assist purchasers and freehold opportunities in scarce supply.  We are currently marketing 58 The Terrace, Torquay.  This imposing Georgian Property is situated immediately above the harbour and has commanding views of the harbour area and the bay.  Providing over 5,000 sq.ft of accommodation and a large private car park the property is potentially of interest to both office occupiers and residential developers alike.