Serviced Office Uptake Continues in Leeds
The number of new businesses opting to enter serviced office space in Leeds has increased during 2011, with data from officebroker.com, the UKΓÇÖs largest independent broker, showing a 22% increase on 2010 levels between January ΓÇô May 2011 across the City Centre.
Part of officebroker.comΓÇÖs ongoing monitoring of the UKΓÇÖs serviced office market, published quarterly as part of our Serviced Office Review Series, the data collected by officebroker.com also shows that the average cost per workstation in Leeds City Centre has increased ΓÇô rising by ┬ú62 (29%) from ┬ú211 in 2010 to ┬ú273 in the same 5 month period of 2011.
The serviced office market in Leeds City Centre consists of 24 serviced office locations across the postcode areas of LS1, LS2, LS3 and LS7. Across the wider LS postcode, there are a total of 57 serviced office locations currently in operation ΓÇô meaning that Leeds City Centre accounts for 42% of the total offering available in this area of the UK.
Despite the rise in new serviced office based businesses, the number of enquiries received across the City Centre has decreased by 17% so far this year, suggested that less speculative, or price gathering led enquiries are now being placed and that businesses are growing in confidence and commitment when looking for new office space.
The amount of space required by those businesses taking space is also shown to have reduced, falling from an average requirement of 4.9 workstations in 2010 to 3.1 workstations in 2011. Average license lengths have also decreased from 11 months to 7 months.
A full account of the activity recorded by officebroker.com across Leeds City Centre will be published in July, when the Q2 edition of the City Focus: Leeds City Centre report is published as part of the Serviced Office Review Series – the only regular insight into the UKΓÇÖs serviced office market.
Past editions of the Serviced Office Review Series can be viewed and downloaded for free HERE.