Serviced Office Market: South West 2011
Workstation prices increased across the region
While fewer firms were shown to have chosen serviced offices in 2011, the workstation requirements of those firms that did make the move remained largely unchanged ΓÇô with the 4.4 workstation average recorded in 2011 remaining in line with the 4.5 average seen in 2010.
Despite decreased demand, the cost of serviced office space across the South West increased, rising from ┬ú200 per workstation per month in 2010 to ┬ú219 in 2011. While not published in the report, internal data from officebroker.com reveals that this overall increase was driven by average workstation prices of ┬ú253 in Plymouth and ┬ú247 in Bath.
Commitment levels also increased in the South West, with the initial licence length of 8 months recorded in 2010 increasing to 9 months during 2011.
Download Report | Serviced Office Review: South West Q4 2011
Bristol City Centre
In contrast, the number of enquiries for serviced office space increased by 16% in central Bristol during 2011 ΓÇô while the take-up of serviced space was 19% higher when compared to the same 12 month period in 2010.
Reflecting the trend recorded across the wider region, workstation prices in central Bristol also increased ΓÇô rising by ┬ú37 on 2010 prices to reach an average of ┬ú231 per workstation per month between January ΓÇô December 2011.
Download Report | City Focus: Bristol Q4 2011