A new report has named Croydon as the fifth most in-demand town or city in the UK for attracting commercial occupiers.
Compiled by leading commercial property data provider CoStar, the 50 Occupier Index captures occupier activity across the 50 largest UK office markets. The company uses its database of over 470,000 commercial properties across the UK to rate each location.
The ranking system measures demand and liquidity by comparing net absorption in each city throughout the year, relative to its stock size and peers.
Croydon topped the pile in 2016 and again performed strongly in 2017, coming in fifth place, ahead of the likes of Manchester and Central London. HMRC’s move into Ruskin Square was one of the key reasons behind Croydon’s success.
The lowest ranking markets were those negatively impacted by large move-outs. For example, Thales, SSE, and Motorola all vacated offices in Basingstoke during 2017. Virgin Atlantic also closed a large office in Crawley, although most of its staff relocated to another site in the town.
Source: BQ Live