Manchester Office Market Shows Positive Signs in 2011
The serviced office space market in Central Manchester has continued to show signs of improvement according to the latest data from officebroker.com, the UKΓÇÖs leading online broker to the serviced office industry.
Comparing activity in the opening four months of 2011 with that of 2010, the number of businesses opting to enter serviced office space across the city centre has more than doubled ΓÇô despite the number of enquiries received by the broker remaining unchanged.
This activity, which has also seen average workstation prices increase from ┬ú205.00 to ┬ú235.00 in 2011, suggests that businesses owners are becoming more active in the marketplace ΓÇô a trend which would also appear to be supported by the increased commitment recorded by officebroker.com, with the average license length signed across the City Centre rising from 6 to 9 months during this same period.
While a greater number of businesses appear to be turning to serviced offices in Central Manchester during 2011, the requirements of these businesses has decreased, falling from an average of 4.5 workstations (desks) in 2010 to 3 in 2011.
Details of the activity recorded in Q1 2011 are available by downloading the City Focus: Manchester report published exclusively by officebroker.com. Details of the activity recorded during Q2 will be published in July 2011 as part of the Serviced Office Review research series.