Partner Article

Birmingham office space becomes cheaper

The cost of office space in Birmingham has fallen over the last nine months, with the average cost of a single desk down by £70 since last year.

Online office search and consultancy company, officebroker.com conducted research into prices between January and September for 2010, and 2011.

The figures show businesses entering the serviced offices during this year were paying on average £74 less than those who had done so last year.

According to the company’s City Focus: Birmingham Q3 2011 publication, the lower prices may have resulted from higher volume deals being completed by local office providers.

Businesses entering serviced office space in 2010 were shown to have an average requirement of just over three work stations each, while in 2011, the requirements had more than doubled to seven work staitons.

A spokesperson for officebroker.com, said: “Larger occupiers will result in lower rates being negotiated with providers.

“The larger businesses with larger requirements, which were largely absent in 2010, would appear to have had an impact on the pricing levels being recorded across the city centre.

“And while the individual number of firms moving into serviced space has fallen, the amount of physical space taken has increased by 85%.”

As more enquiries and business moves traditionally take place in the period between September and December, the report suggests that greater demand could drive up prices.

This was posted in Bdaily's Members' News section by Tom Keighley .