It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Jeremy Hughes, Director at RBH Properties and developer of Pennine Five in Sheffield.
Following a challenging 2024, marked by continued political uncertainty and the Autumn Budget, the commercial property market is entering 2025 with far more clarity. While some economic challenges remain, occupiers and landlords now have a clearer vision of what’s needed – high-quality, flexible spaces that not only appeal to employers but also meet the needs of employees.
The good news is that the ‘return to the office’ is definitely happening. Businesses are starting to take their office space seriously again and understand the crucial role it plays in attracting and retaining talent. I expect this trend to gain even more momentum in 2025.
However, due to the challenging business environment of recent years, not every business can afford to step into a new Grade A development. And even if they can, many cities, Sheffield being one, have a limited supply of brand-new commercial developments – an unfortunate legacy of Covid-19.
Therefore, it’s essential for cities to strike the right balance in their commercial offering – delivering more affordable high-quality spaces that still feature outstanding amenities and flexible leasing terms, to complement flagship developments. We’re seeing this combination prove very popular at our revitalised Pennine Five office campus in Sheffield, which is attracting a diverse mix of technology SMEs, innovation firms, and serviced office providers like Spaces.
I’m confident that 2025 will be a strong year for the commercial property sector.
