Interest in Glasgow and Edinburgh office space has risen, it has been suggested. According to data produced by Officebroker.com, Scotland’s capital and its largest city experienced an increase in demand for serviced offices over the course of 2011.
The firm revealed that the urban centre saw upturns in demand of 14 and 19 per cent respectively. It claimed that this rise in interest for serviced premises reflects a desire among firms to remain flexible during unstable economic times.
Indeed, this is one of the major attractions of such premises. Because companies can enter into much shorter-term leases when they move into offices like this compared with more traditional working environments, they can adopt a more responsive approach to the trading conditions they face.
Commenting on the appeal of office space in Edinburgh and Glasgow, head of UK sales at the firm Chris Meredith said: “Scotland’s leading cities appear to remain attractive locations for business, with the growing number of larger firms entering the market indicating that flexibility is a core concern for businesses of all shapes and sizes.”
Meanwhile, companies operating in the locations also demanded more space, with enterprises increasing their average office requirements by almost two workstations compared with 2010.
Additionally, it was found that the average contract length for offices was nine months, while the average price in Edinburgh increased by 28 per cent to £315 per workstation. This made it the most expensive city in the UK outside of London.
However, Mr Meredith suggested that this may change over the course of 2012 because of Tesco Bank’s exit from the serviced offices market in Edinburgh. The gap represents a significant proportion of the city’s serviced office stock, he noted.
Meanwhile, Glasgow’s monthly rates rose by 21 per cent last year and reached an average of £206 per work station.
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