Q4 Figures from Serviced Office Sector Indicate Imminent Return to Growth for UK Economy

Jan. 25, 2011 - PRLog -- Results out today from the serviced office sector fly in the face of GDP figures showing a 0.5% contraction in UK economic growth during Q4 2010. With results from the serviced office sector traditionally seen as a precursor to wider economic growth, figures from Executive Office Group demonstrating a 150% uplift in performance compared with Q3 should be welcomed by industry.

John Drover, CEO, Executive Offices Group (http://www.executiveoffices.co.uk - EOG) commented on today’s figures, “Our Q4 results further the overall growth recorded in the serviced office sector over the course of 2010 – our wider customer base grew by 20%. In the past week alone, in which healthy levels of banking bonuses marked a renewed confidence in the financial sector, we recorded our largest number of office viewings and general enquiries since 2008; over 70% of which came from individuals and start-ups operating in the financial sector.

“Our message to industry in the context of serviced office performance is that there is light at the end of the tunnel. With entrepreneurship and start-ups critical to economic growth, the indication emerging from our customer growth implies there are reasons to be cheerful as we move through Q1 2011.”

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The Executive Offices Group in its original guise was founded in 1989 to provide serviced offices of an unrivalled standard.

In 2004, The Group acquired Argyll Business Centres and Corpnex and today operates four unique serviced office brands; Argyll, Palladia, Corpnex and Grosvenor. In June 2005 Executive Offices Group was acquired by Morgan Stanley Real Estate but is still run by one of the founders and a long standing Senior Management Team. The Group is dedicated to providing customers with excellent and flexible space solutions, with a focus on quality not quantity.

Principally focused on London's West End, Midtown and City districts as well as West London, Cambridge and Leeds, the Group operates 35 business centres, providing a wide range of serviced offices, virtual offices and meeting rooms.