2012 Olympic Games expected to generate increased interest in London offices
Despite a fairly inconsistent year in terms of enquiry levels for Greater London office space, officebroker.com is receiving a “steady flow” of enquiries for nationwide firms who have won Olympic contracts. Interest is also expected to increase as the Games draw closer.
Overall, enquiries throughout the year to date have been less than stable. June produced a 35% increase over the previous month, which was the first significant result of the year. Following this, July then dropped by -18% and August only improved by 4% month-on-month.
Enquiries then peaked in September 2009 – producing a 19% increase from August to conclude the third quarter on a positive note, which resulted in the highest enquiry level of the year to date. However October dipped again, this time by -6% month-on-month, and -4% when compared to October 2008.
Despite this lack of stability, Greater London has shown slightly more positive figures in the latter part of the year so far. Part of this could be interest in the region as a result of the Olympics. Other possible reasons could be an increase in business confidence, as reports suggest that the UK is finally nearing the end of the recession.
One of the major benefits of the Olympics, aside from a boost to commercial property in the region, is the positive effect it has on businesses all around the UK.
officebroker.com’s Stephen Preston, Client Relations Director and Team Leader for parts of Greater London, has witnessed a number of enquiries from businesses in many different parts of the UK who need office space in the capital.
“We’ve had enquiries coming in from all over the country from business owners who are looking for space to fulfil their Olympic contracts,” says Stephen. “One example is a firm from Newcastle that was involved in acoustics.”
For more details and to view the report in full, including statistics and graph, view the following page: Olympic-sized opportunities for serviced offices in Greater London.