There has been a lot going on across the UK serviced office and flexible workspace sector in recent weeks. Here is our round-up of the main stories currently circulating during April 2016.
Business Environment re-brand as BE Offices
With over 22 years and a number of awards for customer service under their belt, Business Environment announced an exciting rebrand in April.
The new name “BE Offices” has been used on the company’s new website and sales collateral and is reflected across their property portfolio. It’s the next step in the businesses drive to modernise following announcements to refurbish a number of locations, the opening of new business centres and the introduction of a diverse range of artwork.
BE Offices Managing Director, David Saul said “Although this is a new era of branding for us we remain very much the same company and will continue to deliver award-winning business centres – putting the service into serviced offices. We feel it’s a big step in reflecting our more modern and dynamic workspace. We are proudly one of the oldest established in our sector but wanted to make a statement that we are as fresh as ever.”
Take a look at BE Offices latest business centre on Cheapside in the City HERE.
Shortage of Office Space in Cardiff Looming
2015 was Cardiff’s best year for office take-up since 2001 following a number of high profile office space lets like the BBC’s 150,000 sq ft in the Welsh capital.
However, new research carried out by leading property consultancy JLL into the Welsh property market has highlighted an acute shortage of Grade A office space in Cardiff, the worst of all the eight core UK regional markets.
JLL believes that the Welsh Government needs to urgently incentivise new development if the city is to continue to capitalise on increasing demand over the next 12 months.
Chris Sutton, head of JLL’s Cardiff office, said: “The severe shortage of modern space for businesses, both in terms of offices and industrial space, risks having an adverse impact on inward investment and on the retention of existing businesses in Cardiff and south east Wales.”
We will keep an eye on the Cardiff market and post updates as we get them.
Take a look at the available space in Cardiff HERE
The Office Group Pass their 1 Million Sq ft Target
The Office Group (TOG), London’s largest privately owned office provider announced that they have surpassed their target of one million square feet of office space. This follows hot on the heels of their acquisition of The Smiths Building on Great Portland Street which is now 94% let.
Lloyd Dorfman CBE, TOG’s Chairman said, “Reaching a million square feet is a major milestone for The Office Group. With a strong pipeline of new properties opening over the coming months, 2016 promises to be a very exciting year for the Group.
Regus Opens their latest centre in Gerrards Cross
Regus has opened a new site in Gerrards Cross, continuing the growth of the global operator and making it the firm’s eighth location in Buckinghamshire.
Just 15 minutes’ walk from Gerrards Cross station it’s located at Chalfont Park and offers a range of office space available to book on a flexible basis. The centre boasts an impressive large, open-plan co-working space and several private meeting rooms. Regus believes the new centre will be popular with the area’s growing number of professionals looking for quality workspace.
Richard Morris, UK CEO, Regus, comments: ‘The opening of our first location in Gerrards Cross testifies to the area’s need for cost-effective workspace that caters to today’s flexible workforce. We know that more and more people are rejecting the traditional 9-5 fixed-location work day and we are seeing month-on-month growth in interest in flexible working options which provide a more agile alternative to fixed offices.’
Take a look at the latest Regus location HERE.
Office Cost Gap between City and West End Widens Further
The cost of securing grade-A office space in the West End is now approaching £220 per sq ft, this is around £100 per sq ft more expensive than in its near-neighbour the City of London.
Largely down to the level of availability, it’s also due in part to legislation changes making it easier for owners of office space to convert it to residential use.
The City of the other hand has adopted an encouraging approach allowing the development of larger, innovative, landmark office buildings that will are set to attract international occupiers which in turn means more jobs for the City. The Corporation’s policy of encouraging high-rise development in the area known as the City tower ‘cluster’, including the Gherkin and the Leadenhall and Walkie-Talkie buildings has led to further tower buildings being under construction, including the Can of Ham and The Scalpel, with more planned, including the 73-storey 1 Undershaft (960,000 sq ft) and 22 Bishopsgate (1.3m sq ft) which we reported on in an earlier blog.
Search for West End office space HERE.
Search for City office space HERE.
WeWork Open Latest London Locations
Wework have opened their latest London locations in Paddington and Soho adding to their rapidly growing portfolio and helping to bolster their soaring value further.
The Soho centre is at Sheraton House and offers the usual high standard of interior and all the usual WeWork membership benefits.
Take a closer look at the two latest additions to the WeWork network below:
WeWork Paddington: 2 Eastbourne Terrace
WeWork Soho Sheraton House: 16 Great Chapel Street