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Cardiff office space holding up well against other UK cities

Cardiff office space holding up well against other UK cities

Despite an 8% drop in take-up of office space in Cardiff for the second quarter of 2009, the Welsh capital has outperformed many other major UK cities, including Leeds and Birmingham.

According to Wales Online, BNP Paribas Real Estate recorded the figures, which saw Q2 reach 52,000 sq ft of take-up, compared to 56,655 sq ft in Q1.

Mark Sutton, of Cardiff office agency at BNP Paribas Real Estate, said:

“Despite a small dip in take-up in Q2 Cardiff outperformed many other regional centres such as Leeds and Birmingham, who saw take-up in the second quarter fall by 53% and 22.5% respectively.”

He adds that interest in the city remains strong, but many are choosing to take smaller offices than previously.

This may reflect news of an increase in start-up businesses, which is leading to a surge in popularity of smaller offices, as well as take-up of more flexible serviced or managed office space.

Various news reports suggest that individuals who have been made redundant as a result of the recession are choosing to take advantage of an otherwise negative position, and become self-employed – which has led to an increase in start-up businesses.

“We hope to see recovery in the office market towards the end of the year,” continues Sutton, “and believe that Cardiff is particularly well placed to meet a variety of requirements.”

For more details of office space to rent in Cardiff, or to find out more about flexible serviced or managed office space, go to officebroker.com or speak to one of our regional consultants for free, expert advice.

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Author: | September 23, 2009 | 0 Comments

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