21% Increase in Serviced Office Based Businesses
As 2011 approaches independent data has revealed an increase in the number of businesses turning to serviced office space in Central London, with 21%* more businesses opting for this flexible office space alternative in the heart of the Capital since the beginning of 2010.
Accounting for activity that encompasses 228 serviced office locations in Central London**, including iconic buildings such as 30 St Mary Axe(The Gherkin) and 1 Canada Square (Canary Wharf Tower), this up-swing in serviced office based businesses perhaps highlights the way in which business owners are now approaching their office space requirements in the wake of the recession.
Traditionally utilised by the SME sector, the serviced office industry has grown its appeal in recent years and well and truly established itself within the Capital, with the prominence of firms such as Regus continuing to help raise its profile and drive awareness amongst corporates.
Supplying office space on a per desk basis, serviced office providers have been increasingly able to fill a gap in the market left by the impact of the recession, offering businesses of all shapes and sizes the opportunity to occupy high-spec offices in premium locations without the capital investment or risk associated with entering a long-term, conventional office space agreement.
As the latest data from officebroker.com*** shows however (The UKΓÇÖs largest independent serviced office broker), whether it is cost driven, increased awareness or a blend of both elements, the number of businesses choosing serviced offices as the solution to their office space requirements in Central London is on the increase.
During this same period workstation prices across Central LondonΓÇÖs serviced offices have also increased, rising from an average of ┬ú467.00 per workstation in 2009 to ┬ú516.00* per workstation in 2010. Despite this increase however, the price of ┬ú516.00 per workstation remains ┬ú48.00 (8.5%) below the 2008 average of ┬ú564.00 per workstation.
A complete round-up of the serviced office market in Central London, and 11 other UK regions, will be published by officebroker.com in January when the latest editions of the Serviced Office Review Service are made available.
The Serviced Office Review Series, which is the only regular research to be published on the Serviced Office Industry, tracks changes in enquiry levels, the number of businesses entering serviced offices as well as changes in workstation price, requirements and license length. Past edition can downloaded for free from the Stats & Facts section of the officebroker.com website.
*Source: officebroker.com ΓÇô relates to activity / prices recorded by officebroker.com*** Jan – Nov 2010 Vs. Jan ΓÇô Nov 2009.
**Total Serviced Offices operating in the EC, SE1, SW1, W1 and WC postcodes via the officebroker.com service***
***officebroker.com is the UKΓÇÖs largest independent broker of serviced office and works alongside 98% of all serviced office providers including market leaders such as Regus and MWB.
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