KNOWLEDGE CENTRE

Thames Valley Overview: Q4 2011

Businesses across the Thames Valley region required larger offices and signed longer licences during the final quarter of 2011 – according to a new report published by officebroker.com.

Tracked as part of the Serviced Office Review series from officebroker.com, initial licence lengths were shown to have increased by nearly 2 months during Q4 2011 – rising from an average of 8 months in Q4 2010 to 9.8 months during the same 3 month period in 2011.

While this initial licence commitment increased, so did the number of workstations required by businesses making the move to serviced office space – with the average requirement of 4.2 workstations recorded in Q4 2010 rising to 6 workstations during Q4 2011.

Although larger more committed businesses were shown to have been utilising serviced office space during this 3 month period, both enquiry levels and the number of individual businesses moving to serviced office space decreased – falling by 28% and 12% respectively.

Despite fewer businesses taking-up serviced office space during this period, the cost of securing this type of flexible workspace increased – rising from an average of £246 to £262 per workstation per month during Q4 2011.

Further details on the activity recorded by officebroker.com during Q4 2011 can be accessed by downloading the Serviced Office Review: Thames Valley Q4 2011.

The report, which also includes YTD information and a national overview, is part of series that includes information on 13 UK regions and 7 key city centre markets. All of the reports published by officebroker.com are available to download for free from the Knowledge Centre.

Serviced Office Market: South West 2011

The serviced office market in the South West saw an overall decrease in both enquiry levels and the number of businesses moving to serviced offices during 2011 – with a 6% and 12% decrease recorded respectively.

While fewer firms were shown to have chosen serviced offices in 2011, the workstation requirements of those firms that did make the move remained largely unchanged – with the 4.4 workstation average recorded in 2011 remaining in line with the 4.5 average seen in 2010.

Despite decreased demand, the cost of serviced office space across the South West increased, rising from £200 per workstation per month in 2010 to £219 in 2011. While not published in the report, internal data from officebroker.com reveals that this overall increase was driven by average workstation prices of £253 in Plymouth and £247 in Bath.

Commitment levels also increased in the South West, with the initial licence length of 8 months recorded in 2010 increasing to 9 months during 2011.

Download Report | Serviced Office Review: South West Q4 2011

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Bristol City Centre

In contrast, the number of enquiries for serviced office space increased by 16% in central Bristol during 2011 – while the take-up of serviced space was 19% higher when compared to the same 12 month period in 2010.

Reflecting the trend recorded across the wider region, workstation prices in central Bristol also increased – rising by £37 on 2010 prices to reach an average of £231 per workstation per month between January – December 2011.

Download Report | City Focus: Bristol Q4 2011

Big Business Boost for Central Birmingham in 2011

The volume of serviced office space taken by businesses in central Birmingham increased by 53% during 2011 – with larger workstation requirements driving this rise according to a new report from officebroker.com.

Detailing the trends and changes recorded in the serviced office market, the latest instalment of the Serviced Office Review Series shows that the average requirement increased from 3.4 workstations in 2010 to 5.9 workstations during 2011 across central Birmingham.

This increase reveals that those businesses moving to serviced office accommodation during 2011 required an additional 2.5 workstations when compared to the previous year.

The impact of these larger workstation requirements offset an 11% decrease in the number of individual businesses making the move to serviced offices during 2011.

According to the findings of officebroker.com the cost of serviced office space also decreased, falling from an average of £236 per workstation per month in 2010 to £213 in 2011. Despite this decrease workstation prices in central Birmingham remain above the £183 average recorded across the West Midlands region during this same 12 month period.

The report also shows that commitment levels amongst serviced office tenants remained largely unchanged, with the initial licence length of 9 months recorded during 2010 being equalled during 2011.

To learn more about the serviced office market in central Birmingham download a free copy of the City Focus: Birmingham report. You can also learn about the activity recorded across the West Midlands & East Midlands by visiting our Knowledge Centre.

Leeds & Sheffield Q4 2011

The volume of serviced office space secured by businesses was 25% higher across Yorkshire & Humberside during 2011 – but how did the key city markets of Leeds and Sheffield compare and contribute during the last 12 month?

Leeds City Centre

Despite an increase in the average cost of serviced office space in Leeds city centre, which rose from £228 to £243, the overall number of individual businesses securing space within the city centre decreased during 2011 – falling by 11% on 2010 levels.

It is also worth noting that those businesses that did secure serviced space in Leeds city centre had smaller requirements, with an average take-up of 2.9 workstations compared to the average of 4.1 workstations secured in 2010 - this could suggest that those businesses taking space have been opting for higher grade offices.

Download the report: City Focus: Leeds Q4 2011

Sheffield City Centre

In contrast to its neighbour, the number of businesses enquiring about and securing serviced offices in Sheffield city centre increased in 2011 – rising by 2% and 69% respectively.

The increased number of businesses entering serviced offices means that the overall volume of serviced space secured in Sheffield city centre was 52% higher in 2011 than during the same 12 month period of 2010.

While a greater number of businesses moved to serviced offices in 2011, the cost of acquiring this space appears to have decreased, with the average workstation price falling to from £205 in 2010 to £171 during 2011.

Download the report: City Focus: Sheffield Q4 2011

You can also view our report detailing activity across the Yorkshire & Humberside region HERE.

Price Wars: Winners and Losers in Q3

In the battle to improve workstation prices, find out which cities are cashing in from Q3, and which are yet to experience the same level of price recovery.

Based on stats from officebroker.com's quarterly City Focus reports, the following graph shows by how much the average cost per workstation has increased or decreased in Q3 this year, compared with the third quarter of 2010.

Data is taken from officebroker.com's City Focus series - Q3 2011 edition.

City Focus: Q3 2011 vs Q3 2010

Edinburgh led the way in Q3 with a massive £147 increase on last year's average price, which settled at £185 per workstation in Q3 2010.

The average price per workstation in Edinburgh almost doubled to its current average of £332, but there is talk that this could take a hit over the coming months. Tesco, which reportedly occupied 4000 workstations (approx. 280,000 sq ft) in serviced space throughout the city, have since bought their own property and are set to relocate - which is expected to leave a hole in Edinburgh's serviced office market and could lead to a drop in price to fill the vacant space.

Manchester and Bristol both saw a positive increase in Q3 2011 of £41 and £39 respectively. While Bristol fared relatively well, seeing an increase in enquiries (+28%) and no change in either deals or average license length per placement (9 months), the increase in price is particularly good news for Manchester office providers.

The city saw a drop in other areas including enquiry levels (-18%), deals (-55%) and commitment, which decreased from 9 months to 5 months. Requirements dropped too - falling from an average of 9.1 workstations per deal to just 2.7. However, while Manchester seems to be suffering on the surface, year-to-date figures are more positive. In the first 9 months of 2011 compared to the same period last year, the number of new placements and average license lengths of new deals remained the same, while average workstation price saw a positive increase of £26, up from £197 per workstation in 2010 to £223 in 2011 to date.

Leeds and Glasgow fell marginally below the average cost per workstation recorded in Q3 2010, coming in just £2 and £7 lower respectively, but Sheffield failed to live up to the standard set by its Yorkshire neighbour by dropping by an average of £37 per workstation, and also saw a decrease in average licence length from 9 months to 8 months.

However, Sheffield experienced a chunky upturn in placements (+150%), suggesting that cheaper deals are currently on offer to smaller businesses and start-ups, which is not only filling vacant space but also shows a healthy interest in the serviced market. Of course this also presents the possibility for future internal expansion within those business centres over the coming months.

Birmingham suffered a dismal drop of £106 in Q3 this year compared to the same period in 2010, the worst performer in comparable price according to our City Focus series.

Enquiry levels are also down in Birmingham (-28%) but despite this, the city managed to attract more signed deals compared to last year, showing an increase in placements of 29%, which suggests that clients could be taking advantage of the cheaper space.

Interestingly, when looking at year-to-date figures (Jan-Sep), average workstation take-up increased (from 3.3 to 6.9 workstations) in 2011 when compared to the same period last year. Average license length year-to-date remained fairly high at 9 months in 2011, just 1 month lower than the 10 month average recorded in 2010, which suggests that existing clients are choosing to stay in their current space for longer, possibly as a result of attractive deals or incentives.

Read more about the performance of these cities in Q3 2011 here.

What are your experiences of Q3 2011? Have you seen a noticeable shift in client interest or confidence in the market? Share your thoughts in the comment box below.

Serviced Office Review Series Q3 2011

Welcome to the Serviced Office Review Series Q3 2011, a comprehensive overview of the trends and changes taking place in the UK’s serviced office market.

Compiled using the extensive sales and marketing data of officebroker.com, the UK’s largest independent broker to the serviced office industry, the Serviced Office Review Series tracks and presents changes in the UK marketplace on a quarterly basis.

Each report, which is available to view and download for free, delivers information on 5 key areas:

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1. Demand for Office Space

2. Office Space Take Up

3. Workstation Volumes

4. Workstation Price

5. Commitment to Office Space

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You can download the reports using the following links:

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The Serviced Office Review: Q3 2011

[CONTAINER_SPLIT]

Central London

Birmingham

Bristol

Edinburgh

Glasgow

Leeds

Manchester

Sheffield

East Midlands

East of England

[SPLIT]

Greater London

North East

North West

Scotland

South East

South West

Thames Valley

Wales

West Midlands

Yorkshire & Humberside

[CONTAINER_SPLIT]

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If you would like to be notified every time these free reports become available, have additional questions or experience any issues downloading these reports, please email simon.jones@officebroker.com

Serviced Office Review: Yorkshire & Humberside - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market of Yorkshire & Humberside during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the Yorkshire & Humberside *** region:

•Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements

•New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in Yorkshire & Humberside was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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***officebroker.com defines the Yorkshire & Humberside region as areas located within the following postcode prefixes: BD, DN, HD, HG, HU, HX, LN, LS, S, WF and YO

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SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in Yorkshire & Humberside increased from 230 to 234

The total number of serviced office buildings registered with officebroker.com in Yorkshire & Humberside increased to 234 during Q4 10 – representing a net increase of 4 buildings on the figure of 230 recorded at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, with the 234 serviced office buildings listed in Yorkshire & Humberside accounting for 9% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +38% during Q4 10

Quarterly Activity – The number of enquiries received by officebroker.com for serviced office space in Yorkshire & Humberside was +38% higher in Q4 10 than in the same period of 2009.

Year-to-Date Activity – As shown in Fig 3, enquiry levels for serviced office space in Yorkshire & Humberside exceeded 2009 levels repeatedly in 2010. The overall impact of this activity was to increase the number of serviced office space enquiries received by officebroker.com by +23% during 2010.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK exceeded Q4 09 levels by +42%, indicating that the change recorded in Yorkshire & Humberside was largely in-line with the national activity recorded during this same period.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly signed SOTs was -57% lower in Q4 10

Quarterly Activity – The number of new businesses entering serviced office space via officebroker.com during Q4 10 was -57% during 2010 than in the same period of 2009.

Year-to-Date-Activity – During 2010, the overall number of newly signed SOTs was -32% lower than during 2009. As shown in Fig 5, SOT levels followed a similar pattern to 2009 during much of 2010, with the exceptions being March, July and October – both of which look to have accentuated and extended the overall decrease.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through officebroker.com was -26% lower than during the same three month period of 2009.

Having recorded a reduction of -57% in the number of SOTs during Q4 10, the Yorkshire & Humberside region has recorded a larger change in market activity than many other areas of the UK in Q4 10.

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AVERAGE WORKSTATIONS PER SOT

Average requirement reduced to 2.7 workstations

Quarterly Activity – The average number of workstations per SOT totalled 2.7 at the close of Q4 10, a reduction of 1.5 workstations (-35%) on the Q4 09 average of 4.2 workstations per SOT.

Year-to-Date-Activity - Comparing 2009 data against that of 2010, average workstation requirements have decreased slightly across the Yorkshire & Humberside region, dropping from 3.5 workstations in 2009 to 3.1 workstations at the close of 2010.

National Comparison – The average number of workstations per SOT recorded in the UK during Q4 10 was 3.7 workstations, an increase of +3% on the Q4 09 requirement of 3.6 workstations.

Comparing this national activity to that of Yorkshire & Humberside in Q4 10, both the percentage change (-35%) and average workstation requirement (2.7) were notably lower than the national average recorded during this same 3 month period.

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SERVICED OFFICE SPACE COSTS

Average price per workstation was £184.00 during Q4 10

Quarterly Activity – The average price per workstation in Yorkshire & Humberside was £184.00 in Q4 10, a difference of just £3.00 (-2%) on the average price of £187.00 recorded in Q4 09.

Year-to-Date Activity – Average workstation prices across Yorkshire & Humberside have failed to exceed 2009 levels on all but 3 occasions during 2010, resulting in an annual average price of £167.00, a price which is £28.00 below the price of £195.00 recorded during 2009.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 per workstation in Q4 09 to £226.00 per workstation by the close of Q4 10.

During Q4 10, workstation prices in Yorkshire & Humberside were £42.00 below this national average.

With an average workstation price of £184.00 recorded during Q4 10, the Yorkshire & Humberside region recorded the 3rd lowest workstation price of any UK region during the final quarter of 2010, with only the North East (£171.00) and the West Midlands (£173.00) recording a lower average price.

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AVERAGE LICENSE LENGTHS

Initial license lengths increased to 9.1 months in Q4 09

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in Yorkshire & Humberside through officebroker.com were signing average license lengths of 9.1 months, an increase of 1 month (+12%) on the average license length of 8.1 months recorded during Q4 09.

Year-to-Date Comparison – In 2010 the average license length recorded by officebroker.com in the Yorkshire & Humberside region is 8.3 months, a +10% increase on the average licence length of 7.6 months recorded during 2009.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of +14% on the average license length of 7 months recorded in Q4 09.

With an average license length of 9.1 months being recorded in Yorkshire & Humberside, businesses entering serviced office space via officebroker.com during this period were committing to an additional 1.1 months compared to the national average.

Having recorded an average license length of 9.1 months, Yorkshire & Humberside posted the longest average license length of any UK region during Q4 10 alongside the South West and Central London areas.

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SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

•Enquiry numbers increased during Q4 10 compared to Q4 09.

•The number of new serviced office tenants was -57% lower.

•Average workstation price fell slightly below Q4 09 levels.

•Average license lengths exceeded 2009 levels and were the longest of any UK region during Q4 10.

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Serviced Office Review: Wales - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in Wales ***:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in Wales was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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*** officebroker.com defines the Wales region as areas located within the following postcode prefixes: CF, LL, NP, SA

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in Wales increased to 43 during Q4 10

The total number of serviced office buildings registered with officebroker.com in Wales was 43 in Q4 10, an increase of 1 serviced office building on the figure of 42 registered at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 43 serviced office buildings listed within Wales accounts for 1.6% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +86% overall during Q4 10

Quarterly Activity – The total number of enquiries received by officebroker.com for serviced office space in Wales was +86% higher in Q4 10 than in the same period of 2009.

Year-to-Date Activity – As shown in Fig 3, higher enquiry levels were generated in 10 out of 12 months during 2010, with the largest year-on-year increases taking place in the final 3rd of 2010.

The overall impact of this activity was a year-on-year increase of +30% in the number of enquiries received by officebroker.com for serviced office space in Wales.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK rose by +42%, indicating that the increases seen in Wales during this same 3 month period were substantially higher.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly signed SOTs reduced by -35% during Q4 10

Quarterly Activity – The number of newly signed SOTs entering serviced offices via the officebroker.com service was -35% lower in Q4 10 than in the same period of 2009.

Year-to-Date-Activity – Over the course of 2010, the overall number of newly signed SOTs has reduced by -51% on the levels recorded during 2009.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through officebroker.com was -26% lower than in Q4 09.

Having recorded a -35% decrease in SOT numbers during Q4 10, the activity recorded by officebroker.com in Wales would suggest that the serviced office market in Wales experienced a more difficult period than the rest of the UK during the closing months of 2010.

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• AVERAGE WORKSTATIONS PER SOT

Average requirement decreased to 3.1 workstations in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 3.1 at the close of Q4 10, a decrease of 0.4 (-12%) of a workstation on the average requirement of 3.5 recorded in Q4 09.

Year-to-Date-Activity - As shown in Fig 7, workstations requirements in Wales during 2010 have been characterised by a series of highs and lows, with a difference of 5 workstations having been recorded between the July high of 6.5 workstations and the April low of 1.5 workstations.

Despite this varied activity, the overall workstation requirement recorded in Wales during 2010 (3.3) remained within +3% of the requirement recorded during 2009 (3.2).

National Comparison – The average workstation requirement in the UK during Q4 10 was 3.7 workstations per SOT, an increase of +3% on the average requirement of 3.6 workstations recorded by officebroker.com during the same period of 2009.

Comparing this national activity to that recorded in Wales, it would appear that the workstation requirements were trending in-line with national averages during the final months of 2010.

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• SERVICED OFFICE SPACE COSTS

Average price per workstation was £192.00 in Q4 10

Quarterly Activity – The average price per workstation in Wales was £192.00 in Q4 10, a price that is £3.00 (-2%) below the price of £195.00 per workstation recorded during Q4 09.

Year-to-Date Activity – During 2010 an average workstation price of £207.00 has been recorded by officebroker.com in Wales, a price that is £11.00 (+6%) higher than the 2009 average price of £196.00.

As shown in Fig 9, average workstation prices within Wales have varied greatly in 2010, with a difference of £158.00 between the March peak of £298.00 and the April low of £140.00 – indicating that the quality of office space being taken by serviced office based businesses in 2010 has remained varied.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing the activity recorded in Wales to this nationwide average, the data from officebroker.com shows workstation prices in Wales to have been £34.00 lower during the final quarter of 2010.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8 months during Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in Wales through officebroker.com were signing average license lengths of 8 months, an increase of 0.8 months (+12%) on the average license length of 7.2 months recorded during Q4 09.

Year-to-Date Comparison – During the course of 2010, average license lengths in Wales increased by 2.9 months (+53%), rising from 5.6 months in 2009 to 8.5 months by the close of 2010.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of +14% on the average license length of 7 months recorded in Q4 09.

With an average license length of 8 months being recorded in Wales, businesses entering serviced office space via officebroker.com during this period were trending in-line with that of the UK national average.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels continued to increase.
• The number of newly signed SOTs reduced during Q4 10.
• Average workstation prices remained within 2% of 2009 levels.
• Average license lengths increased.

NEED TO KNOW MORE DETAIL?

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Serviced Office Review: West Midlands - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market of the West Midlands during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the West Midlands*** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the West Midlands was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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***officebroker.com defines the West Midlands region as areas located within the following postcode prefixes: B, CV, DY, HR, ST, SY, TF, WR, WS and WV

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the West Midlands increased to 229

The total number of serviced office buildings registered with officebroker.com in the West Midlands increased to 229 during Q4 10, representing a net increase of 3 buildings since the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 229 serviced office buildings listed within the West Midlands region accounts for 8.8% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry Levels increased by +32% in Q4 10

Quarterly Activity – The number of serviced office space enquiries received by officebroker.com for the West Midlands region was +32% higher in Q4 10 than in the same period of 2009.

Year-to-Date Activity – As shown in Fig 3, enquiry levels exceeded 2009 levels on a regular basis during 2010, resulting in a net increase of +38% in the overall number of serviced office space enquiries received by officebroker.com for the West Midlands region.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK increased by +42% compared to Q4 09, meaning that the percentage increase seen in the West Midlands was slightly lower than the UK national average for Q4 10.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The overall number of newly signed SOTs reduced by -12% in Q4 10

Quarterly Activity – The number of businesses taking serviced office space via officebroker.com in the West Midlands was -12% lower in Q4 10 than in Q4 09.

Year-to-Date-Activity – As shown by Fig 5, the number of newly signed SOTs entering the market in 2010 has had both its highs and lows, with the difference between the peak and trough figures more pronounced than that recorded in 2009.

Despite the range of activity captured in the officebroker.com data, overall levels remained within 4% of 2009 levels during 2010.

National Comparison – During Q4 10 the number of SOTs taking serviced office space via officebroker.com was -26% lower nationally than during the same period of 2010.

At -12%, the decrease recorded in the West Midlands demonstrates that activity within the region, while still recording a decrease, was more favourable than that experienced nationally during Q4 10.

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• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement increased to 4.1 during Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 4.1 at the close of Q4 10, an increase of +25% on the average requirement of 3.2 workstations per SOT recorded in Q4 09.

Year-to-Date-Activity - During 2010 the average workstation requirement recorded by officebroker.com across the West Midlands region was 3.9 workstations, a slight increase (+4%) on the requirement of 3.8 workstations recorded during 2009.

National Comparison – The average number of workstations per SOT also increased nationally during the final quarter of 2010, edging-up from 3.6 workstations in Q3 10 to 3.7 workstations in Q4 10.

Comparing this activity with that of the West Midlands, both the percentage increase (+25%) and average workstation requirement (4.1) recorded with the region exceeded the activity logged nationally during Q4 10.

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• SERVICED OFFICE SPACE COSTS

Average workstation price decreased to £173.00 in Q4 10

Quarterly Activity – The average price per workstation in the West Midlands was £173.00 in Q4 10, a decrease of £23.00 (-12%) on the average price of £196.00 recorded in Q4 09.

An interesting point when considering the Q4 10 price within a historical context, is that the Q4 10 average price of £173.00 per workstation is £88.00 lower than that of the pre-recession price of £261.00 recorded in Q4 08.

Year-to-Date Activity – As shown in Fig 9, 2010 workstation prices exceeded 2009 levels on a regular basis during the first eight months of 2010, before being interrupted by a notable downturn in average workstation prices during September and October.

The overall result of this activity was an -8% decrease in the average workstation price of £193.00 set in 2009, with 2010 posting a price of £178.00.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

At the close of Q4 10, workstation prices in the West Midlands were an average of £53.00 below this national average.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8.5 months in Q4 10

Quarterly Comparison – During Q4 10 new SOTs entering serviced office space in the West Midlands via officebroker.com were signing average license lengths of 8.5 months, an increase of 1.2 months (+16%) on the average license length of 7.3 months recorded during Q4 09.

Year-to-Date Comparison – Average license lengths in the West Midlands increased by 0.5 months (+6%) on the 2009 average of 7.6 months, placing the average license length of newly signed SOTs in the West Midlands during 2010 at 8.1 months.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of +14% on the average license length of 7 months recorded in Q4 09.

With an average license length of 8.5 months being recorded in the West Midlands, businesses entering serviced office space via officebroker.com during this period were committing to license lengths in-line with the activity recorded nationally during this period.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels continued to increase.
• The overall number of new serviced office tenants decreased across the West Midlands region.
• Average workstation price decreased.
• Initial license lengths increased and exceeded the national average.

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Serviced Office Review: Scotland - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market of Scotland during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in Scotland ***:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in Scotland was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

______

***officebroker.com defines the Scotland region as areas located within the following postcode prefixes: AB, DD, EH, FK, G, IV, KA, KW, KY, ML, PA, PH

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in Scotland increased from 165 to 170.

The total number of serviced office buildings registered with officebroker.com in Scotland increased to 170 during Q4 10 – representing a net increase of 5 buildings on the figure of 165 recorded in Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 170 serviced office buildings listed within Scotland accounts for 6.4% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +39% in Q4 10

Quarterly Activity – The number of enquiries received by officebroker.com for serviced office space in Scotland was +39% higher in Q4 10 than in the same period of 2009.

Year-to-Date Activity – Increased enquiry levels have been generated in each quarter of 2010, resulting in a year-on-year rise of +27% being recorded by officebroker.com.

As shown in Fig 3, the largest increase in enquiries occurred during the opening and closing third of 2010, with the middle period of 2010 displaying activity more comparable to that recorded during 2009.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK was +42% higher than in Q4 09, indicating that the increases seen in Scotland remained largely in-line with national levels during the closing months of 2010.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly signed SOTs was +7% higher in Q4 10

Quarterly Activity – The number of newly signed SOTS taking serviced office space through officebroker.com was +7% higher in Q4 10 than during the same 3 month period of 2009.

Year-to-Date-Activity – Over the duration of 2010, SOT levels throughout Scotland have remained within 1% of 2009 levels, suggesting a level of stability within Scotland’s serviced office market.

As shown in Fig 5, the lower SOT levels recorded between March – May 2010 were counteracted by increased SOT levels during other periods of 2010, most notably January, February and October. This helped to level-out the overall number of SOTs entering the market via officebroker.com during 2010.

National Comparison – During Q4 10 the overall number of SOTs taking serviced office space through officebroker.com reduced by -26% compared to Q3 09.

Having recorded a +7% increase in Scotland during this same period, it would appear that the serviced office market in Scotland has enjoyed a more favourable environment than the UK as a whole during the final quarter of 2010.

Scotland was the only region of the UK to record an overall increase in SOTs during Q410.

______

• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement was 3.6 during Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 3.6 at the close of Q4 10, decreasing by -14% from the average requirement of 4.2 workstations recorded during Q4 09.

Year-to-Date-Activity - Over the course of 2010 the average workstation requirement in Scotland’s serviced office market remained unchanged overall, with the requirement of 3.6 workstations recorded during 2009 being equalled in 2010.

As shown by Fig 7, workstation requirements remained largely in-line with 2009 levels during much of 2010, before expanding and then contracting once again from August onward – when SOTs with larger requirements appeared to return to the serviced office market in Scotland.

National Comparison – The average number of workstations per SOT throughout the UK slightly increased during Q4 10, rising from the 2009 average of 3.6 workstations to 3.7 workstations in Q4 10.

Comparing this national activity to that of Scotland in Q4 10, the larger percentage decrease which occurred across Scotland (-14%) resulted in average workstation requirement in Scotland falling back in-line with the UK national average.

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• SERVICED OFFICE SPACE COSTS

Average workstation price was £254.00 in Q4 10

Quarterly Activity – The average price per workstation in Scotland was £254.00 in Q4 10, a £33.00 increase (+15%) on the average price of £221.00 recorded in the same 3 month period of 2009.

Year-to-Date Activity – Despite a reduction in workstation price being recorded in the majority of months during 2010, the presence of higher priced agreements in February, July and November have resulted in a year-on-year increase in the average workstation price recorded in Scotland during 2010.

This increased was from £208.00 in 2009 to £234.00 (+13%) by the close of 2010.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing this national activity to that of Scotland in Q4 10, it is clear that both the percentage increase (+15%) and average workstation price in Scotland (£254.00) outperformed the UK national average during the closing months of 2010.

The average price of £254.00 per workstation was the 3rd highest regional average recorded anywhere in the UK during Q4 10, with only Central London (£470.00) and Greater London (£277.00) registering a higher average workstation price during Q4 10.

______

• AVERAGE LICENSE LENGTHS

Initial license lengths remained unchanged at 8.3 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in Scotland through officebroker.com were signing average license lengths of 8.3 months, a license length equalling Q4 09.

Year-to-Date Comparison – As shown in Fig 11, license lengths in Scotland had remained relativity stable (between 7-10 months) throughout the course of 2009. In 2010 however, this range of initial license length has widened (between 5-11 months).

Despite this change, initial license lengths in 2010 have remained on-par with those of 2009 overall – with both 2009 and 2010 recorded an average license length of 8.3 months.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of one month (+14%) on the average license length of 7 months recorded in Q4 09.

With an average license length of 8.3 months being recorded in Scotland, it would appear that the serviced office market in Scotland experienced similar activity to the rest of the UK during Q4 10.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels continued to increase during Q4 10.
• The overall number of new serviced office tenants was +7% greater than during the same period of 2009.
• Average workstation price increased.
• Average license lengths all increased and remained slightly ahead of the UK national average during Q4 10.

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Serviced Office Review: South West - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the South West *** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the South West was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

______

***officebroker.com defines the South West region as areas located within the following postcode prefixes: BA, BH, BS, DT, EX, GL, PL, SN, SP, TA, TQ and TR

______

• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the South West increased from 152 to 158.

The total number of serviced office buildings registered with officebroker.com in the South West increased to 158 during Q4 10 – representing a net increase of 6 buildings on the figure of 152 recorded at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, with the 158 serviced office buildings listed within the South West region accounting for 6% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

______

• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +42% during Q4 10

Quarterly Activity – The total number of enquiries received for serviced office space by officebroker.com in the South West exceeded 2009 levels by +42% in Q4 10.

Year-to-Date Activity – Having successfully generated increased enquiry levels throughout 2010, officebroker.com has received +45% more enquiries during 2010 than in 2009.

National Comparison – During Q4 10, the overall number of enquiries received by officebroker.com throughout the UK increased by +42%, indicating that the increase which took place in the South West was trending in-line with the wider market during the final quarter of 2010.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

______

• NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly placed SOTs was -45% lower in Q4 10

Quarterly Activity – The number of businesses taking serviced office space through officebroker.com in the South West was -45% lower in Q4 10 compared to Q4 09.

Year-to-Date-Activity – In spite of overall increases in the number of new SOTs during both Q1 and Q2, the number of SOTs entering serviced office space via the officebroker.com service is currently -25% below that of 2009.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through officebroker.com was -26% lower than in the same period of 2009.

Having recorded a -45% decrease in SOT numbers during Q4 10, the South West would appear to have experienced a more substantial decrease in the number of newly signed SOTs compared to the majority of the UK during Q4 10.

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• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement increased to 4.2 in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 4.2 at the close of Q4 10, an increase of 1.4 workstations (+49%) on the average requirement of 2.8 workstations recorded in Q4 09.

Year-to-Date-Activity - Taking into account all the activity recorded during 2010, the average workstation requirement in the South West has risen to 4.7 workstations - a requirement which is +10% higher than the 4.3 workstations recorded in 2009.

National Comparison – Throughout the UK in Q4 10 average workstation requirements remained within 3% of the levels recorded in Q4 09, having risen from 3.6 to 3.7 workstations.

Comparing this national activity to that of the South West in Q4 10, both the percentage change (+49%) and average workstation requirement (4.2) exceeded the national average during this same period.

______

• SERVICED OFFICE SPACE COSTS

Average price per workstation was £210.00 during Q4 10

Quarterly Activity – The average price per workstation in the South West was £210.00 in Q4 10, a decrease of £49.00 (-19%) on the average price of £259.00 recorded in Q4 09.

Year-to-Date Activity – With lower prices having been recorded in 10 of the 12 months in 2010, the average year-to-date workstation price in the South West was £200.00, a price £54.00 (-22%) lower than the average price of £254.00 recorded in 2009.

National Comparison – During Q4 10 the average price per workstation fell nationally by -3%, from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing this national activity to that recorded across the South West, both the percentage change (-19%) and average workstation price (£210.00) remained below national averages during Q4 10 – indicating that market conditions have been tougher across this region of the UK during Q4 10.

______

• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 9.1 months

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in the South West through officebroker.com were signing average license lengths of 9.1 months, a licence length that is 1.7 months and +22% longer than the average license length of 7.4 months signed during Q4 09.

Year-to-Date Comparison – As shown in Fig 11, initial license lengths have increased overall during 2010, resulting in the 2009 average of 5.6 months extending to 7.6 months at the close of 2010.

Despite the overall improvement in this area of the market, the 7.6 month average recorded in 2010 remains the lowest initial license length of any UK region during 2010.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of +14% on the average license length of 7 months recorded in Q4 09.

With an average license length of 9.1 months being recorded in the South West, businesses entering serviced office space via officebroker.com during this period were committing to an additional 1.1 months compared to the national average during Q4 10.

______

• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels continued to increase.
• The overall number of new serviced office tenants decreased.
• Average workstation price continued to fall below 2009 levels.
• Average license lengths increased substantially during Q4 10.

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Serviced Office Review: South East - Q4 10

The following report uses statistics from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the South East *** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the South East was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

______

***officebroker.com defines the South East region as areas located within the following postcode prefixes: BN, CT, DA, GU, ME, MK, OX, PO, RG, RH, SL, SO, TN.

______

• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the South East increased to 362

The total number of serviced office buildings registered with officebroker.com in the South East increased to 362 during Q4 10 – representing a net increase of 6 buildings on the figure of 356 recorded at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 362 serviced office buildings listed within the South East region accounts for 13.8% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

______

• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +36% overall in Q4 10

Quarterly Activity – The number of enquiries received by officebroker.com for serviced office space in the South East has increased by +36% in Q4 10 compared to Q4 09.

Year-to-Date Activity – Having generated higher enquiry levels throughout 2010, the overall number of enquiries for serviced office space in the South East has exceeded 2009 levels by +40%.

National Comparison –During Q4 10 the total number of enquiries received by officebroker.com throughout the UK increased by +42%, indicating that the additional enquiries officebroker.com has generated in the South East was largely in-line with the activity recorded nationally during Q4 10.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

______

• NEW SERVICED OFFICE TENANTS (SOTs)

The number of new SOTs decreased by -39% in Q4 10

Quarterly Activity – The number of new businesses taking serviced office space through officebroker.com in Q4 10 was -39% lower than in Q4 09 within the South East region.

Year-to-Date-Activity – During 2010, the total number of newly signed SOTs has decreased by -10% across the South East, with the higher numbers seen in the opening half of 2010 being countered by decreases during the latter stages of 2010.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through the officebroker.com service reduced nationally by -26%.

Having recorded a decrease of -39% in new SOT levels during Q4 10, the South East would appear to have experienced a greater decrease than other areas of the UK during the final quarter of 2010.

The SOTs entering serviced office space in the South East during Q4 10 accounted for 10% of all SOTs assisted by officebroker.com during the final quarter of 2010.

______

• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement was 3.3 during Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 3.3 at the close of Q4 10, a reduction of -11%, or 0.4 workstations, on the average requirement of 3.7 recorded in Q4 09.

Year-to-Date-Activity - Having recorded lower workstation requirements between January – April 2010 (Fig 7.), the increased and more comparable requirements during the remainder of 2010 have helped to raise the average workstation requirement back to within -5% of the higher 2009 levels.

During 2010, the average requirement was 3.9 workstations compared to 4.1 workstations in 2009.

National Comparison – The average number of workstations increased (+3%) throughout the UK during Q4 10, rising from 3.6 workstations per SOT in Q4 09 to 3.7 workstations by the close of Q4 10.

Comparing this national activity to that recorded in the South East during Q4 10, it would appear that workstation requirements within the region are lower than that recorded nationally during Q4 10.

During Q4 10 the South East requirement of 3.3 workstations per SOT was the 3rd lowest recorded in any UK region, with only Yorkshire & Humberside (2.7) and Wales (3.0) posting lower average requirements.

______

• SERVICED OFFICE SPACE COSTS

Average price per workstation reached £215.00 in Q4 10

Quarterly Activity – The average price per workstation in the South East was £215.00 in Q4 10, a decrease of £12.00 (-6%) on the average price of £227.00 recorded in Q4 09.

Comparing Q4 activity over a longer time frame, the average price of £215.00 per workstation recorded in 2010 remains £64.00 lower than the average price of £279.00 recorded in Q4 08.

Year-to-Date Activity – As shown by Fig 9, the average workstation price recorded by officebroker.com in the South East region continuously fluctuated above and below 2009 levels during 2010.

The overall result of this ebb and flow is a 1% increase in average workstation prices within the region during 2010, altering from £237.00 in 2009 to £239.00 in 2010.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing this national activity to that of the South East in Q4 10, it would appear that this regional activity is largely in-line with that of the national activity based on the data recorded by officebroker.com.

______

• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8.3 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in the South East via officebroker.com were signing average license lengths of 8.3 months, an increase of 1.0 months (+14%) on the average license length of 7.3 months recorded during Q4 09.

Year-to-Date Comparison – As shown in Fig 11, average license lengths have exceeded 2009 levels on all but three occasions during 2010, resulting in a year-on-year increase of 1.6 months (+23%) in the average length of license being entered into by SOTs during 2010.

Overall, initial license lengths have increased from 6.6 months in 2009 to 8.2 months in 2010.

National Comparison – During Q4 10 license lengths averaged 8.0 months nationally, an increase of +14% on the average license length of 7.0 months recorded in Q4 09.

With an average license length of 8.3 months being recorded in the South East, businesses entering serviced office space via officebroker.com during this period were committing to an additional 0.3 months compared to the national average during Q4 10.

______

• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels increased, exceeded 2009 levels by +36% in Q4 10.
• The overall number of new serviced office tenants decreased in Q4 10.
• Average workstation price reduced slightly in Q4 10 but increased overall during 2010.
• Average licence lengths exceeded 2009 levels and the national average during Q4 10.

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Serviced Office Review: North West - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q4 10.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the North West*** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the North West was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

______

*** officebroker.com defines the North West region as areas located within the following postcode prefixes: BB, BL, CA, CH, CW, FY, L, LA, M, OL, PR, WA, WN.

______

• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the North West increased from 365 to 369

The total number of serviced office buildings registered with officebroker.com in the North West increased to 369 during Q4 10 – representing a net increase of 4 buildings on the figure of 365 recorded at the close of Q3 10.

As shown in Fig 1, the number of serviced office buildings registered with the officebroker.com service has increased continuously since Q1 10, resulting in a17 building increase in the overall number of serviced office buildings choosing to register with officebroker.com in the North West.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 369 serviced office buildings listed within the North West region accounts for 14% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

______

• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +18% overall in Q4 10

Quarterly Activity – The total number of enquiries received by officebroker.com for serviced office space in the North West region increased by +18% in Q4 10 compared to Q4 09.

Year-to-Date Activity – With a higher number of serviced office space enquiries being generated by officebroker.com during the opening and closing third of 2010, the overall number of serviced office space enquiries has risen +16% above 2009 levels during 2010.

National Comparison – In Q4 10 officebroker.com recorded an overall increase of +42% in the number of enquiries received for serviced office space compared to Q4 09.

With an increase of +18% being recorded within the North West during this same period, it would appear that activity was diminished within the North West during Q4 10 compared to the activity recorded nationally.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

______

• NEW SERVICED OFFICE TENANTS (SOTs)

The number of new SOTS reduced by -27% in Q4 10

Quarterly Activity – The number of businesses entering serviced office space via officebroker.com was -27% lower in Q4 10 than in the same 3 month period of 2009.

Year-to-Date-Activity – The number of newly signed SOTs failed to exceed 2009 levels on all but one occasion during 2010, resulting in a -35% reduction in the overall number of new SOTs entering serviced office space in the North West between January – December 2010.

National Comparison – Across the UK, the number of new SOTs entering serviced office space during the final quarter of 2010 also reduced, with Q4 10 levels ending -26% below the levels recorded during Q4 09.

Given that SOT levels in the North West reduced by -27%, it would appear that the activity recorded nationally during Q4 10 has been reflected within this regional market.

Despite the changes that have occurred within the region during Q4 10, the actual number of SOTs taking serviced office space through officebroker.com in the North West was the 3rd highest of any UK region.

______

• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement reduced to 4.1 in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 4.1 at the close of Q4 10, an overall decrease of -22% compared to the average workstation requirement of 5.3 workstations per SOT recorded in Q4 09.

As shown in Fig 6, the reason that an overall decrease in workstation requirements occurred in Q4 10, was the absence of the larger requirements which had occurred during December 2009.

Year-to-Date-Activity – Despite the decreased workstation requirements recorded in Q4 10, the rises occurring earlier in 2010 have produced an overall increase of +29% in the average workstation requirement of businesses entering serviced office space in the North West via officebroker.com in 2010.

Overall requirements increased from an average of 4.1 workstations in 2009 to 5.3 workstations in 2010.

National Comparison – The average number of workstations per SOT increased nationally during Q4 10, rising marginally from 3.6 workstations in Q4 09 to 3.7 workstations in the same period of 2010.

The average requirement of 4.1 workstations recorded in the North West was the 3rd highest requirement of any UK region during Q4 10, with only Central London (5.0) and the North East (4.7) posting higher.

______

• SERVICED OFFICE SPACE COSTS

Average price per workstation reduced by -1%

Quarterly Activity – The average price per workstation in the North West was £187.00 in Q4 10, a price that is £1.00 (-1%) lower than the average price of £188.00 recorded during Q4 09.

Year-to-Date Activity – The average year-to-date workstation price in the North West is currently £167.00, a price which is £23.00 (-12%) lower than the average price of £190.00 recorded during 2009.

As shown by Fig 9, workstation prices across the North West have failed to exceed 2009 levels on all but two occasions during 2010. What is worth considering however, is that this latest price decrease means that the average workstation price recorded in 2010 is now £89.00 (-34%) below the 2008 price of £256.00.

National Comparison – During Q4 10 the average price per workstation fell nationally by -3%, from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Average workstation prices in the North West were -£39.00 lower than the national average recorded by officebroker.com during this same period.

______

• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 9.0 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in the North West through officebroker.com were signing average license lengths of 9.0 months, an increase of 2.1 months (+30%) on the average license length of 6.9 months recorded during Q4 09.

Year-to-Date Comparison – The increase in average license lengths recorded in Q4 10 follows additional increases during the previous quarters of 2010, meaning that the average license length in the North West during 2010 was 8.5 months. This was 1.6 months longer than the 2009 average of 6.9 months.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of +14% on the average license length of 7 months recorded in Q4 09.

With an average license length of 9.0 months being recorded in the North West, businesses entering serviced office space via officebroker.com in this period were committing to license lengths that were 2 months longer than the national average for Q4 10.

______

• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels exceeded Q4 09 levels by +18% during Q4 10.
• SOT levels were -27% lower during Q4 10 than in Q4 09.
• Average workstation price remained within 1% of Q4 09 levels.
• Average license lengths continued to increase and were amongst the highest recorded in any UK region during the final quarter of 2010.

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Serviced Office Review: North East Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q4 10.

To download a pdf copy of this report click here

This report focuses on the following key areas in the North East *** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the North East was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

______

*** officebroker.com defines the North East region as areas located within the following postcode prefixes: DH, DL, NE, SR, TS

______

• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings remained unchanged at 112

The total number of serviced office buildings registered with officebroker.com in the North East remained unchanged at 112 during Q4 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, with the 112 serviced office buildings listed within the North East region accounting for 4.2% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication.

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +53% in Q4 10

Quarterly Activity – The number of enquiries received by officebroker.com for serviced office space in the North East was +53% higher in Q4 10 than in Q4 09.

Year-to-Date Activity – Having recorded increased enquiry levels in the opening and closing third of 2010, the total number of enquiries generated by officebroker.com in the North East has risen by +44% overall during 2010.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK increased by +42% compared to Q4 09.

This national activity indicates that the percentage increase seen in the North East (+53%) during Q4 10 was greater than the national average (+42%).

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

______

• NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly signed SOTs decreased by -22%

Quarterly Activity – The number of businesses taking serviced office space via the officebroker.com service during Q4 10 was -22% lower than during Q4 09.

Year-to-Date Activity – Between January – December 2010, the total number of SOTs entering serviced offices via the officebroker.com service remained -11% below 2009 levels.

As shown in Fig 5, SOT levels have recovered from the low levels seen at the beginning of 2010, with increased activity in April, July and September allowing some ground to be gained on the previous lulls recorded by officebroker.com.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space via officebroker.com reduced nationally by -26% compared to Q4 09.

Having recorded a -22% decrease in new SOTs during Q4 10 in the North East, the activity within this region of the UK has remained largely in-line with the national average during the final quarter of 2010.

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• AVERAGE WORKSTATIONS PER SOT

Average workstations per SOT increased to 4.7 in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 4.7 at the close of Q4 10, an increase of 2.0 workstations (+74%) on the average requirement of 2.7 workstations per SOT recorded in Q4 09.

Year-to-Date Activity – Average workstation requirements in 2010 throughout the North East are currently 1.6 workstations (+43%) higher than in the same period of 2009, having risen from an average of 3.7 workstation per SOT in 2009 to 5.3 workstations per SOT in 2010.

As shown in Fig 7 however, this overall increase in workstation requirements continues to be driven by the abnormally large requirements recorded during May and December 2010 – highlighting the existence of clients seeking and securing large workstation requirements within the North East region during 2010.

National Comparison – The average number of workstations per SOT throughout the UK increased during Q4 10, rising marginally from 3.6 workstations in Q4 09 to 3.7 workstations per SOT in Q4 10.

Comparing this national activity to that of the North East in Q4 10, both the percentage change and average workstation requirement within the region are higher than the national average recorded by officebroker.com during the same period.

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• SERVICED OFFICE SPACE COSTS

Average price per workstation decreased to £171.00 in Q4 10

Quarterly Activity –The average price per workstation in the North East was £171.00 during Q4 10, a decrease of £25.00 (-13%) on the average price of £196.00 recorded in Q4 09.

Year-to-Date Activity – According to officebroker.com data, the average workstation price in the North East during 2010 was £168.00, a difference of less than 1% on the price of £169.00 recorded during 2009.

As shown by Fig 9, this small decrease in the average price per workstation occurred despite increases being recorded in 6 of the 12 months of 2010.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing this activity to that recorded in the North East during Q4 10, it would appear that the price decreases taking place within the region were more prominent than that experienced nationally during the final quarter of 2010.

During Q4 10, the average workstation price in the North East was £55.00 lower than the national average.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8.0 months in Q4 10

Quarterly Activity – In Q4 10 new SOTs entering serviced office space in the North East through officebroker.com were signing average license lengths of 8.0 months, an increase of 0.7 months (+10%) on the average license length of 7.3 months recorded during Q4 09.

Year-to-Date Activity – Between January – December 2010 new SOTs entering serviced offices in the North East via officebroker.com signed average license lengths of 8.7 months, an increase of 2.6 months (+43%) on the average of 6.1 months recorded in 2009.

Comparing month-on-month activity during this period (Fig 11), it is clear that the increase in average license length during 2010 was the result of SOTs entering into longer initial licenses on a continued and consistent basis, with average license lengths exceeding 2009 levels in 9 months of 2010.

At 8.7 months, the North East had the longest average license length of any UK region in 2010.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of 1 month (+14%) on the average license length of 7 months recorded in Q4 09.

With an average license length of 8.0 months being recorded in the North East, businesses entering serviced office space appeared to be trending in-line with national activity during Q4 10.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels increased by +53% during Q4 10, building upon the previous increase recorded in 2010.
• The overall number of new serviced office tenants reduced in Q4 10.
• Average workstation price fell below the levels recorded in Q4 09.
• Average license lengths exceeded Q3 09 levels and were the highest of any UK region in 2010.

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Serviced Office Review: Greater London Q4 10

This report tracks changes in the Serviced Office Space market of Greater London during Q4 2010.

To download a pdf copy of this report click here

This report focuses on the following key areas in the Greater London*** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in Greater London was compiled to provide a comparative report of the changes within the serviced office market during Q4 2010 compared to Q4 2009.

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***officebroker.com defines the Greater London region as areas located within the following postcode prefixes: BR, CR, E, EN, HA, IG, KT, N, NW, RM, SE, SM, SW, TW, UB, W.

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the Greater London region increased to 372

The total number of serviced office buildings registered with officebroker.com in Greater London increased to 372 during Q4 10 – representing a net increase of 14 serviced office buildings on the figure of 358 recorded at the close of Q3 10.

As shown in Fig 1, the overall number of serviced office buildings registered with officebroker.com has grown quarter-on-quarter, resulting in a 5% increase in the total number serviced office buildings registering with the officebroker.com service between January – December 2010.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 372 serviced office buildings listed within the Greater London region accounts for 14% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication.

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels in Q4 10 exceeded those of Q4 09 by +44% overall.

Quarterly Activity – The total number of serviced office space enquiries received by officebroker.com for the Greater London area was +44% higher in Q4 10 than in the same period of 2009.

Year-to-Date Activity – Having successfully generated greater enquiry levels month-on-month throughout 2010, the accumulative effect is a +38% increase in the total number of serviced office space enquiries channelled through the officebroker.com service when compared to 2009 levels.

National Comparison – During Q4 10 the overall number of enquiries received by officebroker.com in the UK increased by +42%, indicating that the number of new leads officebroker.com has been able to generate in Greater London was slightly higher than in other areas of the UK during Q4 10.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

New SOT levels were -28% lower overall in Q4 10

Quarterly Activity – The number of businesses entering serviced office space via the officebroker.com service in Greater London was -28% lower in Q4 10 than in the same period of 2009.

Year-to-Date Activity – The number of new SOTs entering serviced office space through the officebroker.com service has diminished during 2010, with the overall number of new SOTs being -15% lower than the 2009 total at the close of 2010.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through officebroker.com was -26% lower than in Q4 09.

With a decrease of -28% recorded in Greater London, it would appear that the average activity recorded in the UK during this same period has also been reflected within the Greater London region.

Despite the decrease on 2009 levels which occurred in Q4 10, the Greater London region continues to account for the highest number of new individual SOTs placed by officebroker.com in the UK, with the new SOTs placed in Greater London accounting for 19.7% of all UK SOTs placed during Q4 10 by officebroker.com

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• AVERAGE WORKSTATIONS PER SOT

Average workstations per SOT decreased to 3.5 in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 3.5 at the close of Q4 10, a marginal decrease (-5%) on the workstation requirement of 3.7 per SOT recorded in Q4 09.

Year-to-Date Activity – Despite having recorded average workstations requirements in excess of 2009 levels during the opening period of 2010, the absence of larger requirements - such as that recorded in August 2009 - have resulted in little change taking place overall, with a minimal (-3%) difference between the 2010 average of 4.7 workstations per SOT and the 4.6 per SOT requirement in 2010.

National Comparison – The average number of workstations per SOT throughout the UK increased during Q4, edging-up from 3.6 workstations per SOT in 2009 to 3.7 workstations per SOT in 2010.

While the Year-to-Date activity outlined above clearly shows Greater London to have a higher average workstation requirement than the majority of the UK overall, during Q4 10 the regional requirement fell back and failed to reflect this trend.

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• SERVICED OFFICE SPACE COSTS

Average price per workstation increased to £277.00 in Q4 10

Quarterly Activity – The average price per workstation recorded in Greater London was £277.00 in Q4 10, a increase of £4.00 (+2%) on the average price of £273.00 recorded in the same period of 2009.

Year-to-Date Activity – During 2010 workstation prices in Greater London have decreased by an average of -6%, falling from an average of £282.00 per workstation in 2009 to £267.00 per workstation during the same 12 month period of 2009.

What is of particular note is that the year-to-date average of £267.00 per workstation in 2010 is still £73.00 (-21%) below the average price of £340.00 recorded at the close of 2008.

National Comparison – During Q4 10 the average price per workstation reduced nationally in the UK, falling by £6.00 (-3%) from £232.00 in Q4 09 to £226.00 per workstation in Q4 10.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8.5 months during Q4 10

Quarterly Activity – In Q4 10 new SOTs entering serviced office space in Greater London through officebroker.com were signing average license lengths of 8.5 months, an increase of 1.8 months (+26%) on the average license length of 6.7 months recorded during Q4 09.

Year-to-Date Activity – Having remained within 1% of 09 levels during Q1 and Q2 of 2010, the increases recorded in the second half of 2010 have resulting in an +18% increase in average license lengths overall within the Greater London area – rising from 7.0 months in 2009 to 8.2 months in 2010.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of 1 month (+14%) on the average license length of 7 months recorded in Q4 09.

With average license lengths in Greater London (8.5 months) exceeded the national average (8.0 months) by 0.5 months, it would appear that those businesses entering serviced office space within Greater London are demanding requirements greater in size than that of the UK average.

______

• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• The number of enquiries generated by officebroker.com continued to exceed 2009 levels during Q4 10.
• The overall number of new serviced office tenants decreased in Q4 10.
• Average workstation price exceeded 2009 levels during Q4 10.
• Average license lengths increased and surpassed the UK national average during Q4 10.

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Serviced Office Review: East Midlands - Q4 10

The following report presents research from officebroker.com on the serviced office space market in the East Midlands during the Q4 2010.

Download a pdf copy of this report by scrolling to the foot of the page.

This report focuses on the following key areas in the serviced office market within the East Midlands** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the East Midlands was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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***officebroker.com defines the East Midlands region as areas located within the following postcode prefixes: DE, LE, NG, NN

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the East Midlands increased from 106 to109

The total number of serviced office buildings registered with officebroker.com in the East Midlands increased to 109 during Q4 10 – representing a net increase of 3 buildings on the figure of 106 recorded at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, with the 109 serviced office buildings listed within the East Midlands accounting for 4.1% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by +32% overall in Q4 10

Quarterly Activity – The number of enquiries generated by officebroker.com for serviced office space in the East Midlands was +32% higher in Q4 10 when compared to Q4 09.

Year-to-Date Activity – Between January – December 2010 officebroker.com has recorded a +35% increase in the number of serviced office space enquiries it has received compared to the same period in 2009.

Comparing month-on-month activity (Fig 3), it can be seen that enquiry levels have exceeded 2009 levels throughout the whole of 2010, with the largest increases occurring between February – April 2010.

National Comparison – During Q4 10 the number of enquiries received by officebroker.com throughout the UK increased by +42% when compared to Q4 09, indicating that the increase seen in the East Midlands is below that of the UK national average during this same period.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

Newly signed SOT levels were 30% lower in Q4 10

Quarterly Activity – The number of newly signed SOTs taking serviced office space through the officebroker.com service in Q4 10 was -30% lower than in the same period of 2009.

Year-to-Date-Activity – Despite a reduction in the level of newly signed SOTs in the East Midlands during Q4 10, the overall number of newly signed SOTS recorded by officebroker.com throughout 2010 remains +13% higher than during the same 12 month period of 2009.

As shown in Fig 5, the number of SOTs entering serviced office space via officebroker.com has fluctuated during the latter 6 months of 2010, a notable change from the more moderate activity recorded during the previous 6 months of 2010.

National Comparison – During Q4 10 the overall number of SOTs taking serviced office space through officebroker.com nationally was -26% lower than during the same 3 month period of 2009.

With a decrease of -30% in the number of newly signed SOTs recorded across the East Midlands during 2010, it would appear that the activity recorded nationally has been reflected within the region during Q4 10.

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• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement rose to 3.4 per SOT in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 3.4 at the close of Q4 10, an increase of +31% on the average requirement of 2.6 workstations recorded in Q4 09.

Year-to-Date-Activity – Between January – December 2010 workstation requirements in the East Midlands have averaged 3.3 workstations per SOT, equalling the average recorded in 2009.

As shown in Fig 7, workstation requirements have remained largely in-line with 2009 levels during both the early and latter stages of 2010, with the only significant alterations in this pattern occurring between April and May.

National Comparison – The average workstation requirement throughout the UK also increased during the final quarter of 2010, rising from 3.6 workstations per SOT in Q4 09 to 3.7 workstations per SOT in Q4 10.

Comparing this national activity to that of the East Midlands, the percentage change recorded in the region (+31%) is significantly higher than that of the national average - however workstation requirements remain below that of the national average.

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• SERVICED OFFICE SPACE COSTS

Average workstation price increased to £235.00 in Q4 10

Quarterly Activity – The average price per workstation in the East Midlands was £235.00 in Q4 10, an increase of £24.00 (+11%) on the average price of £211.00 recorded in Q4 09.

Year-to-Date Activity – Workstation prices across the East Midlands, despite increases in both Q1 and Q4, have remained below the average price recorded by officebroker.com during 2009 – falling by -7% from an average of £209.00 per workstation in to £195.00 per workstation in 2010.

During 2010 the difference between the upper (£307.00) and lower (£155.00) average prices recorded by officebroker.com in the East Midlands region was £152.00.

National Comparison – During Q4 10 officebroker.com reported a £6.00 (-3%) decrease in the average workstation price throughout the UK, falling from £232.00 per workstation in Q4 09 to £226.00 in Q4 10.

When comparing this national activity to that recorded in the East Midlands, it is clear that both the percentage change and average workstation price exceeded than that of the national average recorded during this same 3 month period.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 6.1 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in the East Midlands through officebroker.com were signing average license lengths of 6.1 months, an increase of 0.2 months (+3%) on the average license length of 5.9 months recorded during Q4 09.

Year-to-Date Comparison – Between January – December 2010 the average license length recorded by officebroker.com in the East Midlands was 7.8 months, an increase of 1.1 months (+17%) on the average license length of 6.7 months recorded during the course of 2009.

National Comparison – The average license length recorded by officebroker.com in the UK was 8 months during Q4 10, an increase of 1 month (+14%) on the average license length recorded in Q4 09.

With an average license length of 6.1 months recorded in the East Midlands, those businesses entering serviced offices via officebroker.com in Q4 10 were committing to average license lengths 1.9 months lower than the national average.

The license length of 6.1 months recorded within the East Midlands was the lowest average license length recorded in any UK region during Q4 10.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels continued to exceed 2009 levels for the 4th consecutive financial quarter.
• The number of new SOTs entering serviced office space via the officebroker.com service reduced by-30% in Q4 10.
• Average workstation price increased in Q4 10 and exceeded the national average.
• Average license lengths increased but remained the lowest recorded in any UK region during Q4 10.

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Serviced Office Review: East - Q4 10

The following articles presents research on the serviced office space market in the East of England during Q4 2010.

Download a pdf copy of this report by clicking here

The report focuses on the following key areas in the East ***:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics from these areas, a detailed overview of the serviced office industry in the East was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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***officebroker.com defines the East region as areas located within the following postcode prefixes: AL, CB, CM, CO, HP, IP, LU, NR, PS, SG, SS, WD

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the East increased from 188 to193

The total number of serviced office buildings registered with officebroker.com in the East of England was 193 during Q4 10 – representing a net increase of 5 buildings on the figure of 188 recorded at the close of Q3 10.

officebroker.com currently lists 2,616 active serviced office buildings in the UK, with the 193 serviced office buildings listed within the East accounting for 7% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels increased by 71% overall during Q4 10

Quarterly Activity – The number of enquiries generated by officebroker.com for serviced office space across the East of England exceeded Q4 09 levels by +71% during Q4 10.

Year-to-Date Activity – Between January – December 2010 the number of serviced office space enquiries received by officebroker.com has increased by +49% overall compared to 2009.

As shown in Fig 3, enquiry levels exceeded 2009 levels month-on-month throughout 2010, with notable peaks occurring in February, March, July and November.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK increased by +42% when compared to Q4 09, indicating that the increases seen in the East are greater than that of the UK national average during this same period.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The number of newly signed SOTs reduced by -9% in Q4 10

Quarterly Activity – The number of businesses entering serviced office space via the officebroker.com serviced was -9% lower in Q4 10 than in the same period of 2009.

Year-to-Date-Activity – – Despite the decrease recorded in Q4 10, the overall number of newly signed SOTs entering space via the officebroker.com service during 2010 remains +10% above 2009 levels.

National Comparison – During Q4 10 the total number of SOTs taking serviced office space through officebroker.com decreased nationally by -26% when compared to Q4 09.

Having recorded a decrease of -9% in new SOTS during Q4 10, the activity seen in the East of England suggests that the region has outperformed other areas of the UK during Q4 10.

Between January – December 2010, the number of SOTs entering serviced office space in the East of England accounted for 8.4% of the total SOTs placed via the officebroker.com service in the UK.

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• AVERAGE WORKSTATIONS PER SOT

Average requirement increased to 3.9 workstations

Quarterly Activity – The average number of workstations per SOT totalled 3.9 at the close of Q4 10, an increase of +27% on the average workstation requirement of 3.0 per SOT recorded in Q4 09.

Year-to-Date-Activity – Comparing activity month-on-month since the beginning of 2010, the average workstation requirement in the East of England has been 3.4 workstations per SOT, a requirement which is equal to the average workstation requirement recorded during 2009.

With an overall workstation requirement of 3.4 workstations per SOT, the East of England has posted the 3rd lowest individual requirements of any UK region in 2010.

National Comparison – The average workstation requirement in the UK was 3.7 per SOT during Q4 10, a requirement which was within 3% of the Q4 09 requirement of 3.6 workstations per SOT previously recorded by officebroker.com.

Comparing this national activity to that recorded in the East of England in Q4 10, both the percentage change (+27%) and the average workstation requirement (3.9) exceed that of the national average.

______

• SERVICED OFFICE SPACE COSTS

Average workstation price was £221.00 in Q4 10

Quarterly Activity – The average price per workstation in the East of England was £221.00 in Q4 10, an average price that is £7.00 (-3%) lower than the average price of £228.00 recorded in Q4 09.

Year-to-Date Activity – Between January – December 2010 the average workstation price recorded by officebroker.com was £218.00, a price which is £10.00 (-4%) lower than the average of £228.00 recorded in the same period of 2009.

Despite average workstation prices remaining within 4% of the higher 2009 prices, a difference of £88.00 per workstation was recorded by officebroker.com between the peak price of £264.00 per workstation in January and the September low of £176.00 per workstation.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), from £232.00 in Q4 09 to £226.00 by the close of Q4 10.

Comparing this national activity to that recorded in the East of England, both the percentage decrease (-3%) and average workstation price (£221.00) has remained in line with the Q4 10 UK national averages.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 7.6 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in the East of England through officebroker.com were signing average license lengths of 7.6 months, an increase of 0.8 months (+12%) on the average license length of 6.8 months recorded during Q4 09.

Year-to-Date Comparison – Between January – December 2010, the average license length for this region of the UK was 7.7 months, an increase of 1% on the 2009 average of 7.6 months.

National Comparison – During Q4 10 license lengths averaged 8 months nationally, an increase of 1 month (+14%) on the average license length of 7 months recorded during Q4 09.

With an average license length of 7.6 months being recorded in the East of England, businesses entering serviced office space via officebroker.com during this period appear to have been trending in-line with the national activity recorded during this same period.

______

• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels increased by +71% during Q4 10 compared to Q4 09.
• The number of newly signed SOTs was -9% lower in Q4 10 than Q4 09.
• Average workstation price fell by -3% during Q4 10 compared to Q4 09.
• Average license lengths increase to 7.6 months in Q4 10.

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Serviced Office Review: Central London - Q4 10

The following report utilises statistics for Q4 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity from the serviced office market during Q4 10

Download a pdf copy of this report by clicking here

This report focuses on the following key areas in the serviced office market within the Central London** region:

• Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements
• New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment

Using the statistics in these areas, a detailed overview of the serviced office industry in Central London was compiled to provide a comparative report of the changes within the serviced office market during Q4 10 compared to Q4 09.

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** officebroker.com defines the Central London region as areas located within the following postcode prefixes: EC, SE1, SW1, WC, W1.

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in Central London increased from 228 to 249

The total number of serviced office buildings registered with officebroker.com in Central London increased to 249 during Q4 10 – representing a net increase of 21 buildings on the figure of 228 recorded at the close of Q3 10.

Fig. 1 illustrates that the changes recorded in Q4 10 represent a notable increase in the overall level of serviced office supply available in Central London via the officebroker.com service (9%).

officebroker.com currently lists 2,616 active serviced office buildings in the UK, the 249 serviced office buildings listed within the Central London area accounts for 9.5% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Q4 10 enquiry levels exceeded those of Q4 09 by +61% overall.

Quarterly Activity – The number of enquiries for serviced office space within the Central London region received by officebroker.com increased by +61% in Q4 10 compared to Q4 09.

Year-to-Date Activity – This Q4 10 increase marks the 4th consecutive quarter in which officebroker.com has successfully generated a greater number of enquiries for serviced office space in Central London.

The impact of this consistent growth in lead generation means that the overall number of enquiries channelled through the officebroker.com service was +48% higher than in 2009.

National Comparison – During Q4 10 the total number of enquiries received by officebroker.com throughout the UK increased by +42%, indicating that the increase seen in Central London is notably higher than in other areas of the UK during Q4 10.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The number of new SOTs reduced by -12% in Q4 10 compared to Q4 09

Quarterly Activity – The total number of businesses entering serviced office space in Central London through the officebroker.com service was -12% lower in Q4 10 than in the same period in 2009.

Year-to-Date-Activity – Despite a decrease in SOT numbers being recorded during the final quarter of 2010, the overall number of SOTs entering serviced office space in Central London through the officebroker.com serviced has exceeded 2009 levels, with an overall increase of 15% being recorded by officebroker.com during the course of 2010.

National Comparison – During Q4 10 the overall number of SOTs taking serviced office space through the officebroker.com service in the UK was -11% lower than in Q4 09.

Having recorded a decrease of -12% in new SOT levels during Q4 10, Central London would appear to have trended in-line with national activity during the final quarter of 2010.

This decrease represents the first occasion during 2010 that new SOT levels in Central London have failed to exceed 2009 levels.

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• AVERAGE WORKSTATIONS PER SOT

Average workstations per SOT fell from 5.9 to 5.0 in Q4 10

Quarterly Activity – The average number of workstations per SOT totalled 5.0 at the close of Q4 10, a decrease of -16% on the average of 5.9 workstations per SOT recorded in Q4 09.

Year-to-Date-Activity – Despite overall workstation requirements having increased in the second (3%) and third (19%) quarters of 2010, the overall average workstation requirement of new SOTs in Central London has decreased, falling from an average of 5.6 workstation per SOT during 2009 to 5.3 (-5%) in 2010.

National Comparison – Unlike in Central London, the average number of workstations per SOT throughout the UK remained largely unchanged during Q4 10 compared to the same period in 2009, rising from an average of 3.6 workstations per SOT in Q4 09 to 3.7 (3%) workstations per SOT in Q4 10.

With an average of 3.7 workstations per SOT across the UK in Q4 10, the total of 5.0 workstations per SOT recorded in Central London shows that the number of workstations required by businesses in Central London remained higher (1.3 workstations or +35%) than the UK national average during this period.

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• SERVICED OFFICE SPACE COSTS

Average price per workstation increased by +2% in Q4 10 compared to Q4 09

Quarterly Activity – The average price per workstation in Central London was £470.00 in Q4 10, an increase of £8.00 (+2%) on the average price of £462.00 recorded in Q4 09.

Year-to-Date Activity – The increase recorded in Q4 10 marks the 4th consecutive quarterly rise in average workstation prices for Central London during 2010, with the average of £466.00 per workstation recorded during the course of 2009 increasing to £513.00 per workstation at the close of 2010.

With an increase on the previous year’s prices having occurred in 9 out of 12 months during 2010, average workstation prices in Central London ended +10% higher in 2010 than during 2009.

National Comparison – During Q4 10 the average price per workstation fell nationally by £6.00 (-3%), decreasing from £232.00 in Q4 09 to £226.00 by the close of Q4 10. Central London is the only UK region to have recorded an overall increase in average workstation price during each financial quarter of 2010.

While the average workstation price of £470.00 recorded in Central London during Q4 10 remains double that of the UK average, this average workstation price still remains £100.00 (-17%) below the prices recorded prior to the UK entering recession, with the average workstation price in Q4 08 averaging £570.00 in Central London.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 9.1 months in Q4 10

Quarterly Comparison – In Q4 10 new SOTs entering serviced office space in Central London through officebroker.com were signing an average license length of 9.1 months, an increase of 1.6 months (+21%) on the average license length of 7.5 months recorded during Q4 09.

Year-to-Date Comparison – During 2010 the average license length of businesses entering serviced office space in Central London through officebroker.com was 8.6 months, exceeding the average license length of 8.1 months recorded by officebroker.com during the course of 2009.

National Comparison – During Q4 10 license lengths averaged 8 months across the UK, an increase of 1 month (+14%) on the average license length of 7 months recorded during Q4 09.

With an average license length over 1 month longer than that of the UK national average during Q4 10, those businesses entering serviced offices in Central London via officebroker.com appeared to be opting for longer license lengths than in other areas of the UK.

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• SUMMARY

When taking into account all the information for Q4 10, the following key findings can be drawn:

• Enquiry levels rose above previous year’s figures for the fourth consecutive quarter.
• The overall number of new serviced office tenants decreased for the first time during 2010.
• Average workstation price continued to increase despite an overall decline nationally.
• Initial license lengths increased and remained ahead of the national average.

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Serviced Office Review: South East Q3 10

The following report utilises statistics for Q3 10 from officebroker.com, the UK’s leading independent broker of serviced office space, to present activity in the serviced office market during Q3 10.

Download a pdf copy of this report by clicking here.

This report focuses on the following key areas in the South East *** region:

Supply of and demand for serviced office space - In terms of the number of enquiries, the size and shape of those enquiries and the number of placements.

New Serviced Office Tenants (SOTs) - In terms of workstation prices and initial license length commitment.

Using the statistics from these areas, a detailed overview of the serviced office industry in the South East was compiled to provide a comparative report of the changes within the serviced office market during Q3 10 compared to Q3 09.

***officebroker.com defines the South East region as areas located within the following postcode prefixes: BN, CT, DA, GU, ME, MK, OX, PO, RG, RH, SL, SO, TN.

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• SUPPLY OF SERVICED OFFICE SPACE

The number of serviced office buildings registered with officebroker.com in the South East increased to 356.

The total number of serviced office buildings registered with officebroker.com in the South East increased to 356 during Q3 10 – representing a net increase of 5 buildings on the figure of 351 at the close of Q2 10.

officebroker.com currently lists 2,544 active serviced office buildings in the UK, the 356 serviced office buildings listed within the South East region accounts for 13.9% of the total UK supply offered / available through the officebroker.com service.*

*Information correct at time of publication

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• DEMAND FOR SERVICED OFFICE SPACE

Enquiry levels exceeded those of Q3 09 by +11% overall.

Quarterly Activity – The number of enquiries received by officebroker.com for serviced office space in the South East has increased by +11% in Q3 10 compared to Q3 09.

Year-to-Date Activity – This +11% increase in enquiries during Q3 10 follows additional increases of 61% and 58% in Q1 and Q2 respectively, meaning the total number of enquiries received by officebroker.com for serviced office space in the South East during 2010 is currently +41% higher than in the same period in 2009.

National Comparison – During Q3 10 the total number of enquiries received by officebroker.com throughout the UK increased by +16%, indicating that the number of additional enquiries officebroker.com has been able to generate in the South East was slightly lower than in other areas of the UK in Q3 10.

* Effective from 1st February 2010, officebroker.com extensively expanded its online marketing and affiliate program.

As a direct result of this activity the number of enquiries received by officebroker.com increased substantially from February 2010 onward. Such increases, while generating abnormally large changes when placed against previous data, will ensure that the statistics reported by officebroker.com are an even more accurate assessment of the serviced office market here in the UK.

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• NEW SERVICED OFFICE TENANTS (SOTs)

The number of new SOTs decreased by -28% in Q3 10.

Quarterly Activity – The number of new businesses taking serviced office space through officebroker.com was -28% lower in Q3 10 than in Q3 09.

Year-to-Date Activity – In spite of the decrease in SOTs recorded during Q3 10, the overall number of SOTs placed through the officebroker.com during 2010 is slightly higher (1%) than in the same period of 2009.

As shown in Fig 5, the overall increase in new SOTs that took place during the opening 6 months of 2010 was negated by the lower-levels of activity that occurred during Q3 10.

National Comparison – During Q3 10 the total number of SOTs taking serviced office space through the officebroker.com service decreased nationally by -17%.

Having recorded a decrease of -28% in new SOT levels during Q3 10, the South East would appear to have experienced a greater decrease than other areas of the UK during the financial quarter.

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• AVERAGE WORKSTATIONS PER SOT

Average workstation requirement increased to 4.0 per SOT.

Quarterly Activity – The average number of workstations per SOT totalled 4.0 at the close of Q3 10, an increase of 0.8 workstations on the average requirement of 3.2 per SOT recorded in Q3 09.

Year-to-Date Activity – Having recorded a decrease in average workstation requirements throughout Q1 and much of Q2 (Fig 7), the increase in average workstation requirements that occurred during the majority of Q2 and Q3 has helped to raise average requirements back to within 2% of the 2009 levels.

National Comparison – The average number of workstations per SOT throughout the UK decreased slightly (-2%) during Q3 10, falling from 4.0 workstations in Q3 09 to 3.9 by the close of Q3 10.

Comparing this national activity to that of the South East in Q3 10, it would appear that those businesses entering serviced office space in this region through officebroker.com were trending in-line with the national activity recorded by officebroker.com.

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• SERVICED OFFICE SPACE COSTS

Average price per workstation decreased to £221.00 in Q3 10.

Quarterly Activity – The average price per workstation in the South East was £221.00 in Q3 10, a decrease of £17.00 (-7%) on the average price of £238.00 recorded in Q3 09.

Comparing Q3 activity over a longer time frame, the average price of £211.00 per workstation achieved in 2010 remains £111.00 (-33%) lower than the average price recorded by officebroker.com in Q3 08.

Year-to-Date Activity – As shown by Fig 9 the average workstation prices recorded by officebroker.com in the South East region has fluctuated above and below 2009 levels during 2010.

The overall result of this ebb and flow is a £7.00 (+3%) increase in average workstation prices within the region to-date, altering from £240.00 in 2009 to £247.00 in 2010.

National Comparison – During Q3 10 the average price per workstation fell nationally by £27.00 (-11%) from £251.00 in Q3 09 to £224.00 by the close of Q3 10.

Comparing this national activity to that of the South East in Q3 10, it would appear that this regional activity is in-line with that of the national activity based on the data recorded by officebroker.com.

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• AVERAGE LICENSE LENGTHS

Initial license lengths increased to 8.8 months.

Quarterly Activity – In Q3 10 new SOTs entering serviced office space in the South East through officebroker.com were signing average license lengths of 8.8 months, an increase of 2.9 months (+48%) on the average license length of 5.9 months recorded during Q3 09.

Year-to-Date Activity – As shown in Fig 11, average license lengths have exceeded 2009 levels in the South East since March 2010.

The result of these increases is that the average license length within the region during 2010 now stands at 8.1 months, an increase of 2.9 months (+24%) on the license length of 6.6 months recorded in 2009.

National Comparison – During Q2 10 license lengths averaged 8.0 months nationally, an increase of +26% on the average license length of 6.0 months recorded in Q3 09.

With an average license length of 8.8 months being recorded in the South East, businesses entering serviced office space via officebroker.com during this period were committing to an additional 0.8 months compared to the national average during Q3 10.

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• SUMMARY

When taking into account all the information for Q3 10, the following key findings can be drawn:

• Enquiry levels increased for the 3rd consecutive quarter of 2010.
• The overall number of new serviced office tenants decreased during Q3 10 but remain above 2009 levels overall to-date in 2010.
• Average workstation price decreased during Q3 10 but have increased overall to-date in 2010.
• Average licence lengths exceeded national averages and continued the increases which began in March 2010.

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