BNP Paribas Real Estate See Serviced Office Space ΓÇ£SurgeΓÇ¥ in Newcastle
Serviced office space in Newcastle-upon-Tyne has experienced a surge in interest according to BNP Paribas Real Estate (BNPPRE), with the decision of high profile clients such as the BBC and ITV to choose serviced offices being cited as prime examples of the growing demand and appeal.
In an article published on nebusiness.co.uk, Aidan Baker, office agency director at BNPPRE explained how the serviced office accommodation in one of their buildings had now reached 90% – the success of which had prompted the firm to extend the serviced office accommodation onto additional floors within the same building.
The growing appeal and demand for serviced office space in Newcastle-upon-Tyne is supported by data from officebroker.com, the UKΓÇÖs largest broker of serviced office space.
Based on the firmΓÇÖs internal data, the internet based office search and consultancy service has recorded a 48% increase in enquiries during July and August 2010 as well as a 37% increase in the number of businesses entering serviced office space through it service. Average workstation prices have also been on the increase ΓÇô rising from ┬ú193.00 p/m in 2009 to ┬ú249.50 p/m in 2010 (+29%).
Despite the recent surge, overall activity in Newcastle-upon-TyneΓÇÖs serviced office market had been reduced during H1 2010, with the number of businesses entering serviced office space in the opening 6 months of 2010 18% lower than during the same period of 2009.
In addition, data from officebroker.com also reveals that the average workstation price had fallen from ┬ú227.00 p/m in 2009 to ┬ú208.00 p/m in 2010 during the same six month period.
But as suggested by BNPPRE and shown by the data from officebroker.com, the last few months may be the beginning a turn-around for the CityΓÇÖs serviced office market.
The full extent of this change and its subsequent impact upon the regional market will be presented in October, when officebroker.com published the North East Q3 2010 edition of its Serviced Office Review Series ΓÇô past instalments of which can be accessed for free from the Stats & Facts section of the companyΓÇÖs website.
To explore the range of serviced office space available in Newcastle-upon-Tyne, or in any other town or city in the UK, you should visit www.officebroker.com
*All increases based on internal data from officebroker.com comparing July & August 2009 against July & August 2010.