Greater London Offices: Prices & Licenses Increase
Workstation prices in Greater LondonΓÇÖs serviced offices exceeded 2009 levels during the final quarter of 2010, the first overall increase recorded in this sector of the office space market since the beginning of the 2010 (Q1).
Comparing quarter-on-quarter activity, the Serviced Office Review: Greater London Q4 10 from officebroker.com reports an average workstation price of ┬ú277.00 during Q4 10, a marginal increase of ┬ú4.00 (2%) on the price of ┬ú273.00 per workstation recorded in the same three month period of 2009.
This increase mirrors the 2% increase in average workstation prices also recorded during the opening quarter of 2010, in which prices rose from the 2009 average of ┬ú255.00 to ┬ú260.00. While these increases appear minimal, they do represent a marked change to the kinds of decreases recorded during 2009, when workstation prices fell by an average of ┬ú58.00 (17%) on the ΓÇ£peakΓÇ¥ prices recorded during 2008.
The report also reveals a marked increase in license length, with the average of 6.7 months being opted for by serviced office based businesses during Q4 09 extending to 8.5 months during Q4 10.
As the only regular source of data on the UKΓÇÖs Serviced Office Market, the Serviced Office Review Series from officebroker.com provides a valuable insight into this growing business environment. With 372 serviced office buildings operating in the Greater London area alone (2500+ UK Wide), the tracking of activity across this sector of the office market is increasingly important.
Produced on a quarterly basis, the Serviced Office Review Series provides data on the serviced office market in12 region of the UK. As the largest independent broker in the UK, the data from officebroker.com provides an unrivalled cross section of the market within each region.
You can also explore past editions of the officebroker.com research by visiting the Stats & Facts section of the officebroker.com website.