New data by officebroker has revealed that demand continues to rise for flexible office space in Birmingham.
When looking at the first six months of 2013, there has been a 40 per cent rise in the number of businesses taking up serviced offices in Birmingham compared to the same period in 2012. These figures make sense as more firms are looking for specialised office space with smaller needs, as the report highlighted that the average workstation requirement is now 4.6 hours a day. These service offices provide businesses a level of flexibility, without them having to fork out hefty bills at the end of the month.
A spokesperson for officebroker said: “The serviced office market in Birmingham has delivered some positive signs in the opening six months of 2013. A key benefit to businesses is the range of flexible office space available in the city centre, with both corporate and more casual needs being covered.
“Given the current momentum, it is unsurprising that several firms are actively engaged in creating new serviced office facilities within the city centre. When these come to market, it will increase the options available to tenants further and keep pricing competitive.”
It was not all good news, however. A major problem that has hit Birmingham is rental rates, which have risen by a mammoth 21 per cent over the past 12 months. From January to June 2012, the average per desk per month price was £196, this figure rose to £238 for the same period in 2013.
This means that, excluding central London, Birmingham is above the national average. Furthermore, the report suggested that Birmingham was one of the most expensive spots in the country for serviced office space, more so than other major cities such as Manchester, Glasgow and Leeds.