Take-up of office and laboratory space in the Oxford-Cambridge Arc has remained remarkably resilient in the first half of this year as the region’s leading role in the fight against COVID-19 continues to drive demand for space, according to reports by property consultants Bidwells.
Bidwells has revealed the combined office and lab take-up in Oxford, England, has totaled up to 117,600 square feet between January and July, reaching 85 percent of the city’s 10-year average.
In Cambridge, England, combined office and lab take-up totaled up to 130,300 square feet in the same period. Although this only equates to 40 percent of the city’s 10-year average, the first six weeks of the third quarter have seen a further 50,000 square feet of transactions complete, and there is a significant volume of space under offer which, when complete, will bring the percentage closer to 80 percent.
The university cities of Oxford and Cambridge combined have seen a near threefold
