Northampton Office Scheme Ready to Go
The Exchange 15 office scheme in Northampton, which will provide 115,000 sq. ft. of contemporary and flexible office space once complete, is due to begin construction early next month according to a report in the Midlands Business Insider.
Billed as a prestigious office scheme the Northampton office development is well positioned on junction 15 of the M1 motorway, allowing potential tenants easy access to both the South West and the Midlands region.
With the development also expected to achieve a BREEAM rating of ΓÇÿVery GoodΓÇÖ, the office space available is set to deliver on the growing demand for ΓÇÿgreenΓÇÖ credentials being sought by office occupiers.
Speaking to the Midlands Business Insider Russell Legg, MD of the sites developers Leybourne Estates explained:
ΓÇ£The scope and opportunity of Exchange 15 is significant due to its exceptional location. We believe that it will be very attractive to local and regional companies seeking a high quality and high profile HQ building as well as occupiers from outside the region.ΓÇ¥
Undoubtedly one of most high profile moves of this kind by a major organisation is the BBCΓÇÖs move to MediaCityUK in Salford Quays, which saw several key departments transferring from offices in Greater London to the North West.
ΓÇ£Being based in key cities such as London is no longer seen as essential for many industry sectorsΓÇ¥ continued Legg, ΓÇ£This has been reinforced in the last couple of years by many firms and organisations, including the UK government, who have moved out of their traditional commercial city bases to enable them to operate more effectively.ΓÇ¥
With the developer having appointed Lambert Smith Hampton as the property agent, Leybourne Estates should hope that the demand for commercial office space in Northampton matches that for serviced office space ΓÇô which has seen a 100%* rise in office space take-up in the opening nine-months of 2010 according to the UKΓÇÖs largest independent broker officebroker.com.
Should the workstation requirements recorded in NorthamptonΓÇÖs serviced offices, which fell from 3.9 workstations in 2009 to 2.5 workstation in 2010**, reflect the demands of those in the market for traditional office space however, the flexible floor-plate at Exchange 15 could be ideally suited to accommodating a higher number of businesses with smaller office space requirements.
*Based on the number of newly signed serviced office tenants placed via the officebroker.com service between January ΓÇô September 2010 in the NN postcode compared to the same period of 2009.
**Based on the average workstation requirement of newly signed serviced office tenants entering space via the officebroker.com service between January ΓÇô September 2010 in the NN postcode compared to the same period of 2009.