Office Space Review: Wales Q3 2010
Activity in the serviced office space market of Wales was subdued during Q3 2010, with a 48% decrease in the number of businesses entering serviced offices being recorded in the Serviced Office Review: Wales Q3 2010 published by the industryΓÇÖs largest internet broker officebroker.com.
While the Q3 report, which compares market activity between Q3 2010 and Q3 2009, reveals a decrease in the number of newly signed serviced office tenants (SOTs) entering office space via the officebroker.com service, the UKΓÇÖs largest independent broker also delivers good news in the form of growing workstation prices, longer initial licenses and an overall gain in enquiry levels.
Another positive revealed within the Serviced Office Review: Wales Q3 2010 from officebroker.com is an increase in the average workstation requirements, which increased from an average of 2.9 workstations per SOT in Q3 2009 to 4.3 workstations per SOT in Q3 2010.
This latest rise in workspace requirements builds upon previous increases recorded by officebroker.com since the beginning of 2010, resulting in an overall increase of 10% in the average workstation requirement of those businesses entering serviced offices in 2010 to-date.
Workstation prices are also shown to have increased in a similar way, with the average price of ┬ú203.00 per workstation in Q3 2010 exceeding the Q3 2009 price ┬ú189.00. This increase once again built upon previous rises to result in a year-to-date price of ┬ú212.00 per workstation ΓÇô a price that is ┬ú16.00 (8%) higher than the average price of ┬ú196.00 recorded in the same 9 month period of 2009.
Despite this regional rise however, the average workstation price recorded by officebroker.com in Wales remains ┬ú21.00 below the national average price of ┬ú224.00.
While the number of businesses entering serviced office space was reduced during Q3 2010, officebroker.com also reported a 10% increase in serviced office space enquires compared to the same period of 2009 ΓÇô suggesting that interest levels remain high in this flexible and cost effective office space solution.
The Serviced Office Review Series was first produced by officebroker.com in Q4 2009 and comprises of 12 regional reports, all of which are available to download for free from the Stats & Facts area of the officebroker.com website.
To search for serviced office space available near you visit www.officebroker.com