Market

Question 1

What is the rent ITZA for primary retail?

Answer 1

• £100 ITZA in shopping centre
• £60 ITZA Outside shopping centre in prime pitch

Question 2

What is the rent ITZA for secondary retail?

Answer 2

• High Street (secondary pitch) £23-24 ITZA

Question 3

What is the rate for Grade A office space in CC?

Answer 3

£21.50 per sq. ft

Question 4

What is the rate for Grade B office space in CC?

Answer 4

£10-11 per sq. ft

Question 5

What are you seeing in respect of occupiers office requirements?

Answer 5

Enquiries around 3,000 – 10,000 sq. ft

• Office space which helps attract and retain employees
• Support sustainability targets (reduce carbon)
• High quality facilities
• Engaging new ways of working

Question 6

What was the office take-up in NCL?

Answer 6

32,000 sq. ft let in Q2

Question 7

What is the rate for Grade A office space in NCL CC?

Answer 7

Quoting rents for Grade A space / new stock is - £30 - 32 per sq. ft

Prime rents at £29 per sq.ft

Question 8

What is supply like in NCL?

Answer 8

Restricted supply of grade A accommodation (1.5% in Q2 23)

(no construction of new office developments scheduled to start on site throughout the remainder of 2023)

Question 9

What are retail yields in CC?

Answer 9

7-8%

Question 10

Are you aware of any notable deals that’s taken place in NCL?

Answer 10

In NCL city centre, new grade a development Bank House (120,120 sq.ft )

c4,600 sq. ft of office space let to Barclays