Photo by David McBee

Business park rents rise 0.2% QoQ

Demand for the property was driven by technology and biomedical firms.

Business parks saw some rental growth in Q2, rising 0.2% QoQ, data from Colliers showed.

According to the property expert, demand for business parks was driven by knowledge and high-value sectors such as technology and biomedical firms.

Whilst rents grew, occupancy still dropped by 50 percentage points during the quarter.

Colliers, however, clarified that the drop was on the pack of an increase in business park stock.

For the rest of 2022, Colliers said new and higher specialisation developments in the city fringe will push up rents for business parks.

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