Businesses entering the 226 serviced offices based in the West Midlands are doing so in greater numbers and have larger requirements than 12 months ago according to leading brokerage firm officebroker.com.
In a quarterly report by the flexible office space specialists, targeted at serviced office providers and landlords, it is shown that the region has not only enjoyed a 13% increase in the number of new tenants entering the market, but that those businesses have larger requirements with workstation take-up rising by 10% – demonstrating growing confidence and action amongst business owners during the opening months of 2010.
“Serviced offices are utilised by a complete range of businesses” explains officebroker.com’s Head of UK Sales Chris Meredith. “In the West Midlands we have seen not only a continued stream of start-up ventures and SMEs entering serviced office space but also the return or blue chip companies – great news for this industry and great sign for the West Midlands as a whole”
The report also highlights a 48% increase in the number of enquiries being processed by officebroker.com, underpinning the changing nature of workspace practices that has grown in recent years as businesses seek to inject maximum flexibility to their operations.
Evidence of the growing role of serviced offices is underpinned by the significant investment that has continued to be made by providers and landlords in the West Midlands right through 2009 and into the opening quarter of 2010, with 9 commercial properties being leased in Q1 alone in order to create 9 new serviced business centres.
The report from officebroker.com is available from the company’s website (www.officebroker.com) for free and forms part of twelve geographical reviews of the serviced office market throughout the UK. Each report highlights changes in supply, demand, take-up, price and initial licence length providing insight in to both the industry and the actions of the 1000’s of businesses which utilise serviced office space each year.