UK Commercial Property Hotspots
London and major conurbations such as Manchester and Birmingham are still understandably among the top locations for business. However, research by officebroker.com has uncovered some surprising new pretenders snapping at the heels of these ever popular locations.
Research based on information collated by officebroker.com, who work with over 97% of the UKΓÇÖs serviced office space providers and are the largest online broker of office space, identifies the top ten serviced office space hotspots by total number of offices let and percentage revenue achieved.
The research has shown a surprisingly high demand for office space in smaller towns and cities including Falkirk, Newport and Darlington. Sheffield, Aberdeen, Stockport, Coventry and Derby are also amongst the most desirable locations for office space.
In terms of total number of offices let, Central London, Birmingham and Manchester made it into the top five along with Reading, all of which are unsurprising favourites for a business base.
As far as percentage revenue was concerned Reading swooped into the number one spot, followed by Central London, Uxbridge and Birmingham.
The demand for office space in the Darlington area can be attributed to a number of factors including its location on the A1 corridor and its locally driven support for new business start ups. There is also a strong call centre culture in the area and staff recruitment and retention levels are high when compared to national averages.
Falkirk in Scotland has emerged as another high revenue, high demand location, attributed to a combination of Falkirk’s highly accessible central Scotland location and the area’s shortage of smaller conventional leases meaning serviced office space is the most plausible type of office space available within the area. Falkirk as a city is a major thoroughfare between Edinburgh and Glasgow and is only half a mile from the M9 motorway ΓÇô fantastic for businesses needing access to both of ScotlandΓÇÖs main cities.
Heading back down south to the Thames Valley area and ReadingΓÇÖs popularity as an office space location shows no signs of waning. Reading is the heartbeat for business in the Thames Valley area and offers a great source of skilled people especially in high tech and IT roles. Alongside this are the transport links to London and Heathrow, great housing, shops, bars, nightlife, lots of hotels ΓÇô the list is endless and consistently appealing to businesses and property investors.
So to get a great deal on your next office space, it pays off to shop around and seeing what space is available in lesser known areas.