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Following an increase in the vacancy rate by 0.8% to 7.8% in Q4 2018, this has remained largely unchanged in Q1 2019 at 7.7%. Demand has been subdued and this is expected to characterise the market for much of the second half of the year. Nevertheless, we are monitoring the entry of ITC and related industry entrance into the city’s office market, providing long term potential growth as the city seems likely to develop into a hub for such industries.
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04 June 2019