Rise in Serviced Office Tenants Supports ScotlandΓÇÖs Return to Growth.
According to reports in todayΓÇÖs Herald (Scotland), the influential Markit Scotland Purchasing Managers Index has revealed that the Scottish economy has finally found its feet again after being hit hard by the recession ΓÇô a fact which appears to be supported by statistics from officebroker.com showing the number of new business entering serviced office space grew throughout Scotland in January and February 2010.
In 2009 Scotland was 1 of only 3 areas to experience a decline in the number of business entering serviced offices – occurring despite the UK recording a 13% increase overall.
With serviced offices often acting as cost effective, easily managed breeding ground for SMEΓÇÖs and business start-ups, the decline serviced office tenants throughout Scotland added weight to concerns that the entrepreneurial spirit was struggling to tread water in 2009.
But as the Markit report revealed signs of growth so did the seemingly dormant breeding ground of the serviced office market. Beginning in January 2010 the number of serviced office tenants increased by 63% compared to January 2009 while February recorded an even greater response ΓÇô increasing by 180% on the levels recorded in February 2010. Further good news from February was that the average number of workstations be taken by new tenants increased by 11% – meaning that not only were businesses returning to the market but they are showing signs of doing so in greater size.
On the flip side of the coin, positive news for the providers of serviced offices also appeared to break ground in February when workstation prices emerged from a five month slump to register an increase.
A full review of the serviced office market in Scotland will be available in April when officebroker.com releases its quarterly Serviced Office Review covering Scotland. A copy of the Serviced Office Review: Scotland Q4 09 can be downloaded from the stats & facts section of officebroker.com. To visit this page now click HERE