Figures show that in 2012 the average number of workstations requested per serviced office rental agreement was 5.7. This is a 15% increase on the number of workstations requested per rental in 2011. It’s good news for the economy of the North East regions, and comes despite a 2% rise in the average cost of each workstation.
The average cost per workstation of a serviced office rental in the North East was £177 in 2011, which has since increased to £181 in 2012. Despite the marginal increase in price, larger businesses seem to be taking up residence in the region. Another school of thought is that businesses in the area may be expanding their serviced office workspace; which is an equally good sign for the area’s economy.
The report doesn’t offer good news to every area within the North East. Data collected shows that the average number of workstations rented within Durham offices decreased by 20%, and there was even worse news for the Darlington area. The average number of workstations required from serviced offices in Darlington fell 58% from 4.8 to just 3. This coincides with a30.5% rise in the average cost of serviced office rentals in Darlington per workstation
There were more reasons to be cheerful in Sunderland, where the average number of workstations required was up by a quarter. But this increase was dwarfed by the commercial growth of Cleveland. Serviced office space rentals within the TS postcode accounted for an average of 6.3 workstations in 2012, up from just 2.8 workstations in 2011; a 55% increase.
Newcastle remains the centre for business within the North East, with an average of 9.9 workstations per business in the city’s serviced offices. Whilst serviced office space in Newcastle has always been a commercial hub for businesses in the North East, 2012 still saw an increase of 43% in the average number of workstations required per business.
The average cost of Newcastle office rose by just 3% between 2011 and 2012. This represented an increase of just £1 per workstation per month; up from £209 to £210.
On face value these positive signs are suggest good news for the North East’s serviced offices in 2013, as businesses expand their presence within the regions commercial heartland and select serviced office space to help them achieve this.