Category: Office Shortage (page 2 of 2)

London Office Prices Could Fall 20%

July 26, 2016 / / 0 Comments

Following the vote to leave the UK analysts are predicting that the price of a London office could fall by 20%. This news may not be as bad as it sounds for anyone looking for an affordable office in the city.

The fall in office prices is based on the assumption that there will be less demand for leasing office space if an economic downturn happens.

Another factor is withdrawal of investment from abroad, which is already happening. Commercial property investors have suddenly become more cautious about investing in the UK when it is set leave the EU in a little more than two year’s time.

Another reason for the gloomy prediction is that some businesses will relocate abroad if they feel that their needs will be better served on the continent.

One silver lining to all of this is that offices will be cheaper to purchase therefore more money can be spent on making improvements that will add value in the longer term.

It has to be remembered that the UK economy is fundamentally strong and it has more than enough in reserve to weather any future storms if they arise. Aside from a falling pound, there is little evidence of that storm arriving just yet.

Are Small Scale Office Layouts About To Become More Like Home?

May 25, 2016 / / 0 Comments

With the explosion of creative industries in recent years, largely driven by advances in web technology, demand for small office spaces that provide a home for small teams of creatives are in demand.

This was reflected at the recent furniture show in Milan where alternatives to traditional office furniture were on display and attracting a lot of interest amongst visitors.

Creatives often have different needs to those used to working in sober corporate surroundings and attracting the best talent often means creating the kinds of offices they will want to work in. This often means breaking a few rules when it comes to the usual run of the mill office layout.

Additions like office wall partitions with fold down beds perhaps reveal the trend towards the casual office space more than anything else on display. Have we moved beyond the playful offices popular with the tech industry towards relaxed spaces that feel more like home?

It appears so, at least as far as small scale offices are concerned. While sleeping on the job sounds like a boss’s nightmare, at least staff can feel comfortable enough at work they may never want to leave!

5 Things Not To Forget During An Office Fit Out

May 13, 2016 / / 0 Comments

They say moving house is one of the most stressful things in life but office fit outs must rank fairly high on the scale for business owners who don’t plan first. So if you’re approaching your first office fit out, here’s some advice on the basics.

Make sure your fit out fits your business
You will be spoilt for choice when it comes to office designs, however the main focus should be on choosing a layout that fits your business. Hot desks and spaces designed for creatives who move around a lot with their laptops might be right for a marketing company but if you prefer your workers to be static, then you will need some good sized desks to keep them comfortable.

Declutter and account for extra space
You can’t expect an office to have the same space demands forever so it is worth remembering that storage space should be adequate. Your business if successful should grow over time and this will require extra space for storage and additional staff when required. It is also important to declutter so that your office isn’t designed around stuff that would be better placed in the nearest skip.

Don’t forget about technology
Office design creativity is at an all-time high just as much because of technology as it is as a consequence. Many gadgets are wireless these days and often slimmed down so you need far less space for wires. Unfortunately even the most efficient office machine will need to be connected up to the power at some point so make sure your office include enough provision for extra sockets.

Office Shortage Drives Surge In Rents and Refurbishment

March 20, 2016 / / 0 Comments

Cities across the UK are experiencing a shortage in supply of office space which threatens to drive up costs for businesses as rents inevitably increase. The shortage in office space has led to a surge in demand for office refurbishment in efforts to increase supply in some of the UK cities including London Cardiff and Bristol.

The statistics were revealed in Savills’ Regional Office Market Review & Outlook report which also says that there is less than one year’s supply of grade ‘A’ space available. The national shortage is driving up demand at a time when space in crowded city centres has become limited as many older buildings have been converted into residential housing.

In London, there is now a particular problem as commercial and residential developers fight it out for space in the city. This has pushed up office rents in locations such as Canary Wharf.

Bristol and Cardiff were two cities highlighted as having the biggest potential for rent rises this year. Bristol office rents are set to increase by 12% while nearby Cardiff is expecting to see rents rise 9%.

Across the UK availability of office space is down 18 percent on 2007 levels.

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