Probation for Sheriffs Office Space
Over 13,000 sq. ft. of office space has been leased by the Department for Communities & Local Government in Coventry, allowing the Probation Service to consolidate its services into a single building and marking the largest office letting in the city during the last 12 months.
The Sheriffs Court offices, which were completed in 1998, will provide office space over four storeys and have been taken on a 15-year lease by the Dept. Communities & Local Government in a move heralded as ΓÇ£a great deal for the property and for the cityΓÇ¥.
“This is a substantial deal in any circumstances but, when you consider the tough market place, this is a major lettingΓÇ¥ stated Tim Hurdiss of the Deely Group – who own the ground lease.
“This is a significant office property in the city centre and we are delighted to see it being occupied once again.ΓÇ¥
“The knock-on effect for the rest of the city centre should be positive because it has been said for many years that it requires more office workers to boost the leisure and retail sector.”
“Sheriffs Court is a landmark building and to attract such a prestigious tenant as the Probation Trust, which is making this its flagship building in the city centre, is very good news all round.ΓÇ¥
That said one section of CoventryΓÇÖs office market has already been recording positive activity, with data from the UKΓÇÖs largest independent broker to the serviced office space sector, officebroker.com, showing year-on-year increases across the city.
This increasingly popular form of office space, which includes a selection of on-site services and rates within its monthly cost structure, has seen a greater number of businesses turning to its unique office space solution during 2010 ΓÇô with a 6% increase shown in the statistics from officebroker.com.
Other positives for this section of the office market, which is used extensively by the SME sector as well as by larger firms establishing satellite or project offices, is news that the space being taken has also begun to increase, rising from an average of 4 workstations (desks) per business in 2009, to 4.5 workstations in 2010 ΓÇô signs of growth and expansion amongst the business community within the Midlands city.