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Key highlights of the report are:
· Prime nodes with new and quality stock have a better absorption of office space compared to areas with large secondary buildings, indicating that occupiers are still looking for quality stock although at reduced rentals.
· Whilst the market is accumulating good supply of quality stock, vacancies are increasing with prime nodes now catching up to national vacancies at over 10%. Landlords are therefore expected to offer incentives in the near future to mitigate increasing vacancies, and rental growth is expected to be limited.
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05 August 2014