Greater London: January Surge in Office Space Take-up
The number of new businesses entering serviced office space in Greater London increased during the opening month of 2011, with an 85% increase in January 2011 compared to January 2010 being recorded by officebroker.com.
Having seen an overall decrease of 15% in the number of new businesses entering serviced offices across Greater London during 2010 (Serviced Office Review: Greater London Q4 2010), the activity recorded by officebroker.com during January 2011 represents the first increase since September 2010 (+6%) ΓÇô itself one of only three occasions during 2010 when uptake increased. (February +39% and April +60%)
While the number of businesses entering serviced office space in Greater London enjoyed a substantial increase during the opening month of 2011, the space required by these businesses has reduced compared to the same period in 2010.
During January 2010, those businesses entering serviced offices recorded an average requirement of 7.6 workstations ΓÇô the second highest requirement of any UK region and a workstation average that was substantially higher than that of the national average (4.4 Workstations) posted during the same month.
In January 2011 however, the average number of workstations being taken by newly placed serviced office tenants in Greater London had decreased to 3.5 workstations ΓÇô a 54% or 4.1 workstation reduction on the average requirement posted during January 2010.
Workstations prices also increased during January 2011, rising from an average of ┬ú220.00 per workstation in the opening month of 2010 to ┬ú250.00 per workstation in January 2011.
To learn more about the market for serviced office space in Greater London, alongside 11 other regions of the UKΓÇÖs serviced office market, view or download the Serviced Office Review Series from the Stats & Facts section of the officebroker.com website.