Increase in Bristol Office Space Up-Take
The number of new businesses entering serviced office space in Bristol has increased according to a new report published by officebroker.com, with the opening 3 months of 2011 showing a 14% rise on the levels recorded in the same 3 month period of 2010.
Focusing on the City Centre office market, the Bristol City Focus Report compares activity in Q1 11 with that of Q1 10, charting enquiry levels, office space take-up, workstation volumes, workstation price and average license length.
In addition to a 14% increase in the number of businesses entering office space across Bristol City Centre, the officebroker.com report also shows a 4% increase in the number of enquiries received.
Workstation prices have also increased, rising from an average of ┬ú176.00 per workstation in Q1 10 to ┬ú235.00 during Q1 11 ΓÇô an increase of ┬ú59.00 per workstation.
While workstation prices have increased, the workstation volume have decreased, falling from an average of 9.1 workstations per client in the opening 3 months of 2010 to 3.5 workstations in the same period of 2011. This decrease would appear to suggest that the larger requirements seen during the early stages 2010 have failed to materialise in 2011.
Providing a benchmark from which serviced office space providers can assess their own activity with that of the wider market, the City Focus report is part of the wider Serviced Office Review series published quarterly by officebroker.com. These reports are the only regular and freely available research on the UKΓÇÖs serviced office market.
To learn more about the Serviced Office Review Series ΓÇô CLICK HERE