Growing Demand for West Midlands Office Space
The amount of desk space required by Businesses in the West Midlands has increased, with new research showing that the average number of desks being taken by businesses entering the regions serviced office space increased during Q4 10.
In the Serviced Office Review: West Midlands Q4 10, published by officebroker.com, it is revealed that businesses securing office space in the regionΓÇÖs 229 serviced offices were opting for an average of 4.1 workstations during the final quarter of 2010 ΓÇô a 25% increase on the average requirement of 3.2 workstations recorded during the same three month period of 2009.
At the same time as workstation requirements have increased, the average price of these serviced office workstations appears to have decreased. Comparing Q4 09 and Q4 10, the average price per workstation in the West Midlands has reduced by ┬ú23.00, falling from ┬ú196.00 in 2009 to ┬ú173.00 by the close of 2010.
Comparing this average price over a longer timeframe, the Q4 10 price of ┬ú173.00 per workstation is revealed as being ┬ú88.00 lower than the average price of ┬ú261.00 recorded in the same three month period of 2008.
License lengths have also increased across the region, with those businesses entering serviced office space during Q4 10 signing average license lengths of 8.5 months ΓÇô a 1.2 month extension on the average license length of 7.3 months that was being signed during Q4 09.
Despite greater commitment and an apparent need for more desk space, the overall number of businesses entering serviced offices in the West Midlands was shown to have decreased, with 12% fewer businesses entering serviced offices during Q4 10 when compared to Q4 09.
To learn more about the serviced office industry in the West Midlands, or any of the other 12 regions cover in the Serviced Office Review Series, simply visit the Stats & Facts section of the officebroker.com website.