Office Space Review: South West Q3 2010
In spite of growing workstation requirements and increased licenses lengths, the number of businesses entering serviced office space in the South West of England has fallen ΓÇô these are the findings of the Serviced Office Review: South West Q3 2010 report from officebroker.com, the UKΓÇÖs largest independent broker of serviced office space.
Having recorded an increase in the number of businesses entering serviced office space during both Q1 and Q2 of 2010, rising by 35% and 3% respectively, the latest instalment of officebroker.comΓÇÖs Serviced Office Review reports that the number of businesses entering serviced offices in Q3 was 51% lower than in the same period of 2009.
The South West report, which includes the office locations of Bristol, Bournemouth and Plymouth, is the only regular research covering the UKΓÇÖs serviced office space market. The market, which comprises of over 2500 business centres and serviced office locations, is rich in SMEs and Start-ups while also catering for corporate clients by offering office space in some of the WorldΓÇÖs most prestigious and iconic buildings and business addresses.
Despite the reduced up-take reported by officebroker.com, interest in serviced offices appears to remain strong, with the number of enquiries generated by the UKΓÇÖs largest independent broker having exceeded 2009 levels by 23% between July ΓÇô September in 2010.
The report also highlights a decrease in average workstation prices throughout the region, with the Q3 2010 price of ┬ú258.00 per workstation being ┬ú35.00 (-12%) below the average price of ┬ú293.00 per workstation recorded twelve months earlier.
While the price within the region has decreased, the average cost of a workstation in the South West remains ┬ú34.00 higher than the national average of ┬ú224.00 recorded during the same period. This national price decreased from an average of ┬ú251.00 per workstation in 2009, a decrease of 11%, suggests that the decrease recorded in the South West remained in-line with the national trend.
You can access current and past editions of the Serviced Office Review series for free from the Stats & Facts section of the officebroker.com website.
Businesses seeking office space can begin searching by visiting www.officebroker.com.