Office Space Uptake Rises in North East
The number of businesses making the move to serviced office space in the North East of England increased by 61% during the opening quarter of 2012.
Published in the Serviced Office Review, the regular research series produced by officebroker.com, the higher number of businesses securing serviced office space in the North East occurred despite the number of enquiries being lower than in the same 3 month period of 2011.
While the amount of office space required remained relatively consistent, averaging 3.7 to 3.5 workstations in Q1 11 and Q1 12 respectively – the volume of office space secured by North East Businesses remained below the UK average of 4.4 workstations.
The average cost of serviced office space in the North East also decreased when comparing Q1 11 to the same three month period in 2012. With an average of ┬ú164 per month recorded across the region, this places the average North East workstation ┬ú131 below the UK national average of ┬ú295.
Whilst price was shown to have decreased, the commitment shown by businesses moving to serviced office space increased, with initial license lengths rising from around 9 months to over 10 during Q1 12.
To explore the Serviced Office Review: North East Q1 2012 report, visit the dedicated Knowledge Centre at officebroker.com. Here you can view and download all 13 regional and 7 city centre reports that make up the quarterly research series.
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