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Network Rail to Rejuvenate York Office Space

Network Rail to Rejuvenate York Office Space

Network Rail will refurbish and upgrade their office space in York according to a report from TheBusinessDesk.com, with construction firm ISG awarded the £5.4m contract to overhaul the office accommodation.

Based at the aptly named George Stephenson House, the existing offices of Network Rail will reportedly by gutted, re-configured and transformed in to a modern office interior with the upper floors adopting an open-plan lay-out.

The scheme, which it is hoped will be completed by the close of 2011, will be delivered in several phases in order to allow some working space within the building to continue as normal during the process.

While Network Rail have been looking to re-enliven their existing office space in York, other businesses have been turning their attention to the serviced office space available in the City, with an 11% increase in the number of businesses choosing to enter serviced offices being recorded by the close of 2010.

According to data from officebroker.com, the UKΓÇÖs largest independent broker to the serviced office sector, not only has the number of serviced office based businesses increased across the York area, but notable rises in license lengths and workstation (desk space) requirements have also increased.

Comparing data for the YO postcode year-on-year, the average workstation requirement of these new serviced office based businesses has risen by +34%, growing from an average of 3.5 workstations in 2009 to 4.7 workstations throughout the course of 2010.

Initial license lengths, which could be seen as a sign of businesses confidence, also grew during 2010, with firms choosing to commit to licenses averaging 10 months (25%) compared to the 8 month average entering into during 2009.

While it has been suggested that increases in license length may be the result of lower workstation prices – prompting some business owners to secure longer-term office space at more favorable rates – that would not appear to be the case in Yorkshire’s serviced office market, with workstations prices exceeding increasing from an average of £129.00 per workstation in 2009 to £158.00 per workstation during 2010 (+25%).

To learn more about the serviced office space market in Yorkshire & Humberside view the Serviced Office Review Series by visiting the Stats & Facts section of officebroker.com website.

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Author: | January 25, 2011 | 0 Comments

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