anyspacedirect news

Encouraging prospects for UK’s regional office market

11th May 2012
Future prospects for the nation’s regional office market “significantly” improved during Q1 2012, after a report showed city centre take-up in Bristol totalled more than 77,000 sq ft.

In its ‘Big Nine’ report, GVA monitored take-up across the UK’s nine biggest cities outside of London - Bristol, Birmingham, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, Manchester and Newcastle.

In Bristol alone 77,800 sq ft of city centre office space was allocated in Q1 2012, while a further 107,000 sq ft of out-of-town office space was also taken up with business confidence growing in the West Country.

The nine separate GVA regional office centres in the aforementioned cities recorded a combined take-up of city centre and out-of-town office space of 1,611,000 sq ft in the first quarter of 2012, with out-of-town markets particularly strong at present.

Commercial property consultancy, GVA revealed take-up out-of-town was 17 per cent above the quarterly average, with activity largely concentrated in Newcastle, Birmingham, Manchester and Bristol.

Meanwhile city centre office space take-up was actually down seven per cent below the quarterly average, indicating that out-of-town opportunities are currently buoying the overall market.

Carl Potter, GVA national head of offices, said: "We have seen an encouraging increase in enquiries and requirements, pointing to an improvement in activity during the rest of the year.

"There are currently some excellent deals around on secondary stock, so for companies looking to move, then 2012 may be the year to do so as the same opportunities may not be there in 2013."

At we have to concur about the excellent opportunities for businesses to secure high-quality office space to let this year. Our own portfolio is bursting at the seams with sought-after commercial property across the country, from Sheffield and Staffordshire to London and Leeds.

Let us put you in direct contact with landlords today, saving you time and money with no middleman fees to pay.
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