Larger Office Requirements Active in North East During 2010
Businesses in the North East of England have been signing longer licenses and taking a greater amount of office space, these are the findings of a new report from office space specialist officebroker.com that examines activity across the regions 112 serviced office buildings.
The Serviced Office Review: North East Q4 10, which provides a quarterly insight into the serviced office space market, reveals that businesses entering serviced office space in the North East during 2010 were signing the longest initial license lengths recorded in any UK region.
With an average of 8.7 months, the licenses being signed by new businesses across the North East during 2010 not only represent the longest license lengths of any UK region, but also a 43% increase (2.6 months) on the average of 6.1 months recorded in the North East during 2009.
Another finding of the research from officebroker.com, is that businesses with larger workspace requirements were active in the North East during 2010.
Centered on activity recorded in May and December 2010, the Serviced Office Review: North East Q4 10 shows an average of 16.2 workstations per new placement was achieved during May and an average of 8.8 workstations during the final month of December.
The presence of these large requirements in 2010, requirements which peaked at 7.8 workstations in 2009, provides evidence of larger operations choosing to enter serviced office space in the North East during 2010.
Additional areas of the serviced office market covered in the report include:
The Serviced Office Review Series covers 12 UK regions and is published by officebroker.com on a quarterly basis. Current and past editions of the Serviced Office Review Series can be viewed and downloaded for free from the Stats & Facts section of the officebroker.com website.