Preview: Serviced Office Reviews 2013
The data is in and it wonΓÇÖt be long before our Serviced Office Reviews for 2013 are available in full to download. In the meantime, hereΓÇÖs a quick snapshot of the key findings.
The average price per desk per month for offices in Central London remained at ┬ú608 in 2013 ΓÇô the same average price recorded in 2012. However, this figure masks the fact that there were great changes within the London office market; most notably a 35% increase in price for offices in SE1 and an 11% price decrease for the WC postcode.
The strong performance of AberdeenΓÇÖs serviced office market continues to be driven by the energy industry. In 2013, it was the second most expensive office market after London, with average price per desk increasing to ┬ú492, up from ┬ú393 in 2012.
Birmingham saw a 44% increase in the number of businesses moving to serviced offices in 2013, with a steady flow of SMEs taking space in the city centre and a number of larger businesses re-evaluating their property needs.
Our serviced office data revealed a relatively stable 2013 for Bristol which remains the fifth most expensive city in terms of average price per desk. With many Bristol businesses opting to stay put, low levels of churn have contributed to a 9% rise in average price.
After a 2012 dominated by high availability, occupancy returned to healthy levels in 2013. The average price per workstation has once more begun to increase, rising from ┬ú258 in 2012 to ┬ú272 in 2013. As a result, serviced offices in Edinburgh were the third most expensive of all the UK key cities in 2013.
GlasgowΓÇÖs serviced office market continues to be short on high-grade space; a factor which may have contributed to the decrease in average price per desk in 2013 and which saw Glasgow move from sixth to eighth on the key cities pricing league table. It is also worth noting that businesses with smaller requirements (2-3 desks) were the principle users of serviced offices in Glasgow last year.
An increase in average price per desk from ┬ú190 in 2012 to ┬ú241 in 2013 reflected a demand for higher quality space in Leeds over the last twelve months. This demand is expected to continue in 2014, with ongoing development continuing to raise the profile of the city centre.
As home to the highest number of business centres of all the key cities outside London, the cost of serviced office space in Manchester has typically been competitive. An increase in average price per workstation from ┬ú208 in 2012 to ┬ú248 in 2013 has seen it overtake Glasgow in the pricing league table.
The full Serviced Office Reviews for 2013 will be available to download soon from our Knowledge Centre.