Cost of Serviced Office Space Rises for First Time Since 2008
The average cost of a workstation in one of the 2497 business centres offering serviced office space in the UK rose by 5% during the first three months of 2010, the first nationwide increase recorded since 2008.
Based on quarterly statistics from serviced office space specialistΓÇÖs officebroker.com, the average price per workstation recorded nationally between January ΓÇô March 2010 was ┬ú242.00, an increase of ┬ú11.00 on the price of ┬ú229.00 recorded during the same period in 2009.
This increase follows a period in which average workstation prices decreased by up to 23% across the UK, marks the first overall rise in workstation prices since 2008.
With price increases occurring in 8 out of 12 UK regions, each helping to drive this change in the wider market, it will be hoped that the 4 regions still recording decreases in the first quarter of 2010 (Wales, South West, North East & Yorkshire & Humberside will also begin to feel the benefits of this change as Q2 begins to unfold.
Those regions enjoying the greatest increases during the opening months of 2010 were Scotland (+39%), the East Midlands (+21%) and Central London (+19%) – the area consistently heralded as the heartland of recovery.
While these improved 2010 prices still lag behind the pre-recession prices of ┬ú297.00 recorded in 2008, the shift to stability and gain from wholesale decline demonstrates that the market is improving.