Orega Office Space in Bristol Launches in November
Serviced Office Space provider Orega, whose Chertsey office was crowned officebroker.comΓÇÖs Business Centre of the Month in April, has announced that it will open a new business centre in Bristol this November ΓÇô marking the brands first foray in to the south west office space market.
The new Bristol based serviced office building, which will provide 27,000 sq. ft. of grade A office space to businesses seeking flexible workspace, will not begin operating in November but is already available to view via its online profile on the officebroker.com website.
Paul Finch, joint managing director of Orega, explained the reasons why they felt it was the right time to expand their brand of distinctive flexible office in the South West:
ΓÇ£Bristol has a lot of merits from a business perspective. As well as providing a sound regional base for financial and professional services, its relative autonomy creates a tighter market with greater levels of occupancy and fewer voids; one that is less prone to the vagaries of the property boom and bust cycle.ΓÇ¥
ΓÇ£Bristol has a stable regional office market which provides us with the same rationale for a new business centre as Birmingham and Manchester, where we opened last year.ΓÇ¥
The addition of the Bristol site to their portfolio, which follows the opening of their first serviced office in Central London in August, is the next step in their expansion plans ΓÇô which will see Orega double the number of serviced office buildings it has operating within the UK during the next 12 months.
The comments by Paul Finch regarding the stability of the Bristol office market are supported by past research by officebroker.com, the UKΓÇÖs largest brokerage service to the serviced office sector, which also showed that the serviced office market in the South West region had been less impacted by the financial recession of 2009 compared to other areas of the UK.
Since the beginning of 2010 however, officebroker.com has recorded a 25% decrease in average workstation prices throughout the South West, falling from ┬ú251.00 in the opening 6 months of 2009 to ┬ú190.00 during the same period of 2010.
In contrast however, the average price per workstation in the Bristol area has bucked this regional trend, rising from ┬ú216.00 p/w in 2009 to ┬ú228.00 p/w in 2010.