Serviced Office Review: West Midlands Q3 Now Available
The latest report from officebroker.com’s Serviced Office Review Q3 2010 series features the West Midlands region.
Highlights from the report include an increase in enquiries for serviced office space in the West Midlands, which have risen for the third consecutive quarter in 2010.
Overall enquiries in Q3 were up by 9% compared to the same quarter last year, and year-to-date, enquiries for the region stand 40% higher than the same period in 2009.
Despite the heightened interest from prospective clients, the overall number of new serviced office tenants actually decreased by -19% across the West Midlands region in Q3 2010 when compared to the same quarter last year. On a national level, the number of new tenants in the UK decreased by -17% on Q3 09 levels, which shows that the West Midlands was in-line with the rest of the UK.
In comparison however, the neighbouring East Midlands region recorded a 37% increase in the number of new tenants taking serviced office space during Q3 10.
The West Midlands has also seen a decrease in the average cost per workstation, with prices currently down by an average of ┬ú49.00 per person (per month), leaving workstations at an average of ┬ú156.00 in Q3 10.
However when considering the initial license length signed by new clients, the figures show a slight increase in loyalty, with firms signing for an average of 7.7 months, an increase of 0.9 months (+14%) on the average license length of 6.8 months recorded during Q3 09.
Find out more by downloading the full report for free online at officebroker.com’s Stats & Facts section: