Serviced office increase 2nd April 2015

The cost of desk space in serviced offices has grown by double figures across the UK in the past year, as the sector continues to expand. The number of serviced offices across the country has risen by 3.6% in the past year, in addition to an 11.4% increase in desk rates. Growth in the number of such spaces across Central London is as high as 17% in Southbank and 11% in the West End during 2014. The serviced office sector in London continues to outperform other markets across the country, with Greater London now comprising 30% of the national market. Central London, the City, West End and Southbank have all seen serviced office centre growth of over 10%. Elsewhere in the UK, nearly all of the largest markets have experienced growth with respect to new centres, and corresponding increases in average workstation rates year on year. The Manchester market has increased by 9%, with workstation rates increasing by 5%. Aberdeen, Bristol, Glasgow, Edinburgh, Belfast, and Cambridge have also shown significant increases in both serviced centres and desk rates compared to previous years.