Central London Serviced Office Providers Workspace have released further reports of loss and suffering occupancy levels. Offering Serviced Offices set in and around central London the provider’s properties are positioned in one of the areas worst hit by the impending recession with continued reports of a slumping London market hitting the headlines weekly.
Last month’s report by CoStar research company “Central London Office Market Report” revealed some alarming figures relating to central London’s office take up numbers and consequently WorkSpace, who accommodate SMEs, have reported a noticeable increase in the first-quarter of vacation notices and the time taken for deals to be completed.
The first-quarter loss of the serviced office provider spells bad news for the central London office market which, despite seeing a number of lucrative deals over the past few months, continues to see an overall market decline, accentuated by a number of larger corporations, the likes of JP Morgan who recently ditched plans for a city move, now favouring the Docklands as reported in our article of 1st August “Bank Serviced Office Market Continued…”.
Serviced Office providers in the area continue to look for light on the horizon with constant reference to that key word “flexibility” and putting their hopes on their flexible office solutions to pull them through the bad times. In the wake of uncertain economical conditions serviced offices can allow businesses the freedom to expand or decrease their square footage with ease and commit to shorter lease terms.
If your business is feeling the squeeze of the credit crunch and you would like to consider a serviced office with flexible lease terms please give our advisors a call on 01932 834 720 and we will endeavour to find the best solution for you whether you are considering a move to central London or elsewhere in the UK.