Price of Serviced Office Space in Central London Increases for 2nd Consecutive Quarter in 2010
According to data from officebroker.com, the UKΓÇÖs largest broker of serviced office space, the average price of a workstation in serviced offices throughout Central London has risen for a second consecutive quarter in 2010, increasing from ┬ú475.00 in Q2 09 to ┬ú501.00 in Q2 10.
The 5% increase recorded by officebroker.com during the second quarter of 2010 follows an increase in Q1 10, when the serviced office space specialist reported a 23% rise in average workstation prices compared to Q1 09.
Based on the average prices recorded by officebroker.com during the opening 6 months of 2010, the average serviced office workstation price in Central London is currently 13.6% higher than in the same period of 2009, having risen from ┬ú446.50 in 2009 to ┬ú507.50 in 2010.
While the continued rise in workstation prices shown by the officebroker.com data provides encouragement for operators of serviced office buildings within Central London, having seen prices fall by an estimated 23% during 2009, these higher prices still fall short of the prices reported during the opening six months of 2008, when the average price recorded by the internet broker stood at ┬ú601.00 – some ┬ú93.50 per workstation higher than the prices currently being recorded.
Further information from officebroker.com on the serviced offices market in Central London is available in the Serviced Office Review Series published on the companyΓÇÖs website. The Serviced Office Review Series, which presents data from officebroker.com on a quarterly basis, is available to download for free and includes details on supply, demand, take-up and initial license lengths as well as the workstation prices already highlighted in this report. You can view the report online or download a pdf copy of the report by visiting the Stat & Facts section of the officebroker.com website.