Q1 2012: Workstation Price Hits 5 Year High
The average cost of a serviced office workstation in Central London reached a 5 year high in the opening quarter of 2012, rising to ┬ú583 per month.
This increase represents an ┬ú81 rise on the average price recorded in the opening quarter of 2011 and a ┬ú41 per month rise on Q1 08 figures.
ΓÇ£Central London is often considered to be ahead of the curve. The price increases recorded across the heart of the capital in our research reflect this and demonstrate that higher quality space and competition for it remained in demand during the opening months of 2012.ΓÇ¥ explained Chris Meredith, Head of UK Sales at officebroker.com
Despite a dip in enquiry and overall take-up during Q1 2012, the larger office space requirements recorded throughout 2011 remained present in the opening months of 2012, with those businesses making the move to serviced office space still requiring an average of 6 workstations.
Outside of the Capital, the average workstation was recorded at ┬ú295 ΓÇô some 49% lower than in the heart of Central London but still representing an increase on the Q1 11 average of ┬ú283.
Download the full report – Serviced Office Review: Central London Q1 2012