2013 started to see occupier confidence return, both in the office and warehousing sectors and BB&J Commercial expect this to increase in 2014. We have managed to dispose of virtually all of our office stock on Pride Park including inward investment deals to large international companies. Due to a lack of available space elsewhere we are confident some of the vacant stock in the City Centre will soon be taken up. In addition, the exciting Darley Abbey Mills redevelopment continues to gain momentum, popularity and new tenants and 2014 will see the refurbishment of Long Mill and West Mill which offers individual space for occupiers in a World Heritage setting and preliminary interest has been extremely encouraging.
The warehousing market is going from strength to strength with significant developments, including speculative development, appearing across the City and we expect to see more of this through 2014. An increasing demand for good quality warehousing accommodation coupled with a lack of available stock could cause rents and freehold prices to increase and consequently we hope that sensible development funding packages are made available to local developers.
