North West Office Space: 2010
Workstation prices in the North WestΓÇÖs Serviced Offices have remained on-par with 2009 prices during 2010, but remain well behind the peak prices of 2008 according to research from serviced office space broker officebroker.com.
In the latest installment from the Serviced Office Review Series, a quarterly publication that tracks activity in the serviced office space market, it is reported that workstation prices have remained within 1% of the prices recorded in Q4 2009 during the same three month period of 2010.
This activity, which places the average workstation price across the North West at ┬ú187.00, represents a 1% and ┬ú1.00 decrease on the price of ┬ú188.00 recorded between October ΓÇô December in 2009.
While prices were shown to have decreased nationally by -3% during this same period, the average price of ┬ú187.00 recorded in the North West during Q4 2010 was ┬ú39.00 lower than the national average price of ┬ú226.00 (down from ┬ú232.00) per workstation.
ΓÇ£Even at reduced rates companies are still choosing not to occupy or move. This in turn highlights the re-negotiating of existing contracts and operators may not need to discount as much as is apparent at present to win the amount of true business that is out there.ΓÇ¥
What is also noted in the Serviced Office Review: North West Q4 10, is that the year-to-date price of ┬ú167.00 per workstation remains ┬ú89.00 below the ΓÇ£peakΓÇ¥ price of ┬ú256.00 per workstation recorded in the North West in 2008.
More positive results are however shown by growing license lengths in the region, which rose from an average of 6.9 months in Q4 2009 to 9.0 months in Q4 2010. The report also highlights a demand for larger workstation requirements, rising from an average of 4.1 workstations in 2009 to 5.3 workstations in the 12 months of 2010.
ΓÇ£The increase in contract length could indicate that there are a number of offers out there being won where the compromise is a reduction in workstation price for an increase in contract length.ΓÇ¥ continues Sallie.
ΓÇ£We have offered this in the past and it could be what works well for this region. On one hand it is cutting into the profit margin but on the other there is guaranteed income coming in.ΓÇ¥
The Serviced Office Review: North West Q4 10 also tracks enquiry levels and the number of new businesses entering serviced office space via the officebroker.com service.
To explore the findings of the report in greater detail, either click on the link above or visit the Stats & Facts section of the officebroker.com website. Here you will find current and past editions of the serviced office research published by officebroker.com.