Office Uptake Continues to Rise in Bristol
The number of businesses moving to serviced office space in Bristol continues to rise according to new data from officebroker.com.
Comparing activity recorded year-on-year*, the number of businesses securing serviced office space in Bristol was shown to have increased by 25% – suggesting a greater appetite for flexible office accommodation in the City Centre.
In what could be a response to these growing levels of uptake, the cost of serviced offices in the city has also increased ΓÇô rising from an average of ┬ú243 per workstation per month in 2011 to ┬ú276 in the same five month period of 2012.
Another factor potentially impacting the cost of serviced office space in the city is the demand for larger offices, with those businesses moving to serviced offices requiring space suitable for six employees ΓÇô nearly double the three desk average recorded in 2011.
While uptake and requirements are shown to have increased, the commitment shown by these businesses has decreased ΓÇô with the average initial licence length falling from around eleven months in 2011 to nine month in 2012.
This market insight provides a preview of the quarterly research series produced by officebroker.com, past editions of which can be viewed and download for free from the Knowledge Centre of our website.
*January ΓÇô May (2011 vs. 2012). Data Source: officebroker.com
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