North East Office Space Sees Return of Larger Workstation Requirements in Q210
officebroker.com has recorded marked changes in the North East serviced offices market during the second quarter of 2010, with the brokers Serviced Office Review: North East Q2 2010 report highlighting the presence of larger deals and greater commitment.
In the Q2 report, which compares the officebroker.com data of Q2 10 with that of Q2 09, the broker reports that the number of individual businesses placed in serviced offices during Q2 10 matched that of Q2 09. But while this number has remained unchanged, the requirements of the those businesses has vastly altered ΓÇô with both workstation requirements and initial license lengths far exceeding those recorded in the same period of 2009.
The surge in workstation requirements shown in the report was the result of a series of large, workstation heavy deals (raising the average workstation requirement of 3.3 in Q2 09 to 9.0 by the close of Q2 10), marking the first return of such clients with larger requirements since 2008 ΓÇô with the regions average workstation requirement only reaching 4.1 during 2009.
An additional positive revealed in the report was the rise of average license lengths from 4.1 months in Q2 09 to 6.4 months in Q2 10, suggesting the possibility that those businesses entering serviced office space through the officebroker.com service were displaying greater confidence when committing to business workspace compared to 12 months ago.
Presenting quarter-on-quarter data alongside year-to-date activity and a national comparison, the Serviced Office Review Series from officebroker.com provides an unrivalled insight into the serviced office space market here in the UK each quarter across 12 UK regions. All instalments of the series are free to access from the Stat & Facts section of the brokerΓÇÖs website and can be downloaded in pdf format.