Bear has been up north this week, crossing the Pennines from Leeds to Manchester.
Whilst general sentiment in the regions seemed pretty positive, he's come home feeling a little uneasy about their office markets.
Bear has some reservations about the 'fully-fitted' office model and worries the money landlords have to pour into Grade A-minus and Grade B offices could deter investors going forward.
Bull is quick to remind Bear that occupational sentiment is improving, and whilst there's no doubt many offices will require significant capital expenditure, the soft yields on regional offices represent excellent value for money and it's already starting to entice investors.
Enjoy your Sunday.