Office Space Review: East of England Q3 2010
The number of newly signed serviced office tenants (SOTs) in the East of England increased by 16% during the third quarter of 2010, these are the findings of the UKΓÇÖs leading independent broker of serviced office space, officebroker.com.
Tracking activity within the serviced office space market within the East of England, the Serviced Office Review: East Q3 2010 from officebroker.com also reveals a growing number of enquiries for serviced offices, along with a 1.9 month increase in the initial license length being signed by SOTs during Q3 2010 compared to the same three-month period of 2009.
The higher up-take of SOTs recorded in Q3 2010 builds upon previous increases tracking back to the beginning of 2010, the accumulative effect of which has led to a year-to-date increase of 18% in the total number of SOTs entering serviced office space via the officebroker.com in 2010.
Comparing this regions activity to the rest of the UK, it would appear that the East of England out-performed many other regions, with its 16% increase in SOTs corresponding with a 17% decrease nationally during the same period.
While tenure and up-take have risen, workstation prices across the region have decrease, falling from an average price of ┬ú250.00 per workstation in Q3 2009 to ┬ú185.00 in Q3 2010 ΓÇô a reduction of ┬ú65.00 per workstation (26%).
Workstation prices first dropped below 2009 levels in June 2010 and have remained below 2009 levels since – has counteracting the increased workstation prices that were recorded in each of the previous months in 2010.
The result of this change, according to the officebroker.com report, is a year-to-date workstation price of ┬ú217.00 in 2010, a price which represents an ┬ú11.00 (5%) decrease on the average workstation price of ┬ú228.00 reported in the same nine-month period of 2009.
During the same three-month period supply levels across the region decreased, with the 188 serviced office buildings registered with officebroker.com in the East of England decreasing to 182.
Click here to download the report in full: Serviced Office Review: East Q4 2010