While the downturn is affecting the Real Estate Market, Serviced Office Providers prosper
Many commercial real estate agents, such as Cushman & Wakefield and DTZ are announcing continued losses over the last few months with the economic slow down whilst serviced office providers continue to see an increase in demand.
The credit crunch in the serviced office market is yet to happen and business centre operators have seen interest grow due to the flexibility of their offering. They are able to match all potential requirements during such an uncertain time including space saving, expansion plans and location moves. The ability to be flexible and tailor a service to a businesses’ requirements whether it is coming from a small business or a corporate has made this niche industry more and more successful in the last few months.
Regus, the leading worldwide operator in the serviced office markets has announced in a recent report an increase in their revenue in Q1 by 24%.
Avanta, one of the leading business centre operators in the UK is also announcing an increase of 10% in the number of enquiries received.
Richard Smith, Managing Director and founder of SOS>Search Office Space, the original global office broker comments: “Businesses are currently looking to commit to short term leases with flexible terms. This option is not only open to start-ups and small business but also to corporates looking for 100 or more workstations. Serviced Offices being costly is only a misconception and businesses can actually realise this by sending us their requirements. Competition is now getting stronger and business centre operators are currently running great incentives.”
Should you have a requirement for a serviced or managed office space, please call SOS >Search Office Space on 0800 740 8080 or email [email protected]. Alternatively, to compare all the options available on the market please go to www.searchofficespace.com .
Written by Emily Mouquot, Marketing Director.