South East Office Space: 2010
The number of businesses enquiring about serviced office space across the South East has increased by 40% during 2010. But despite the increased levels of interest, 10% fewer businesses have completed the move into serviced offices during this period according to new research published today.
Despite a reduction in the number of new serviced office tenants during 2010, workstation prices have remained relevantly unchanged across the region, increasing from a 2009 average of ┬ú237.00 per workstation to ┬ú239.00 per workstation by the close of 2010.
Having recorded an overall average of ┬ú239.00 per workstation in 2010, workstation prices have exceeded the UK national average recorded during this same period, which equaled ┬ú228.00 per workstation during 2010.
While workstation prices have nudged higher during 2010, the average number of workstations being taken by new serviced office based businesses has reduced.
Although the change in workstation requirement is minimal, having fallen from an average of 4.1 workstations in 2009 to 3.9 workstations in 2010, it has resulted in the average workstation requirement in the South East falling below the 2010 national average of 4.1 workstations.
Another trend revealed in the research, is that new serviced office based businesses are signing longer initial licenses in 2010 when compared to 2009. During 2009 those businesses entering serviced office space were signing an average license length of 6.6 months. By the close of 2010 however, this license length had increased by 23%, resulting in an average license length of 8.2 months in 2010.
The Serviced Office Review: South East Q4 10, from which these findings are taken, provides a quarterly insight into regional changes across the UKΓÇÖs serviced office market. The serviced office industry, which includes over 2,500 office locations in the UK alone, provides a rich business environment that is used by start-ups, SMEs and Multi-National Companies.
To learn more about the Serviced Office Industry in the South East, or another of the 12 regions included in the research series, simply visit the Stats & Facts section of www.officebroker.com. All editions of the Serviced Office Review Series are free to view and can also be downloaded in pdf format.