Increase in demand for office space.

February 10, 2016

According to a new report out, Liverpool city centre has seen an increase in demand for all grades of office accommodation, Manchester registered the highest average of all nine cities outside of London that featured in the study.

Ian Steele, director at Bilfinger GVA Liverpool, reportedly says: “It is clear that there has been an increase in demand for office space in Liverpool city centre which is in line with the economic upturn.

“However, one of the biggest challenges is the shortage of Grade A stock in Liverpool with less than one year’s supply and the lack of new developments in the pipeline means that occupiers will potentially have limited options for relocation and expansion.

“In Q4 we saw increased demand for all grades of accommodation. Hopefully this will drive further investment in the region and people will continue to want to bring their businesses to this thriving city.”

Chris Cheap, Senior Director and Head of Offices at Bilfinger GVA in the North West, reportedly says: “Supply of prime space remains extremely tight across the nine cities with an average just short of a years’ availability based on past take-up rates.

“This is none more so apparent than in central Manchester where there is just six months’ supply of built and available prime stock and while there is a healthy development pipeline, occupiers with short time horizons really need to be taking action.”

The report in full on the Move Commercial website can be seen here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →
Letting Agent Talk

Poor Communication becomes Expensive at Scale

The hidden cost of fragmented property management By Adam Hills, Client Services Director, LRG Living Markets A landlord asks for an update on a repair. The property manager asks the contractor, who is waiting for access from the tenant. Meanwhile, the accounts team has received an invoice but cannot tell whether the work is complete.…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

When Estate Agents Decide to Go Solo

Leaving an established estate agency to work independently gives experienced agents more control over fees, client service and working hours. It also brings responsibility for compliance, cash flow and every part of the customer experience. Before handing in your notice, test the idea against realistic sales volumes, local competition and the amount of time you…
Read More →
Estate Agent Talk

What Should Buyers Ask Before Reserving a New Build?

Research from Skipton Building Society has found that 44% of aspiring first time buyers would rather buy a new build than an older property, with just 30% favouring an older build. Modern fittings and appliances were the biggest draw, cited by over half of those who preferred a new build, alongside the promise of lower…
Read More →
Breaking News

The UK cities with the largest property price increases revealed

A new study has unveiled the most challenging UK cities for first-time buyers. Newry leads Northern Ireland’s ranking, with a property price increase of 12.8%, while Hull leads Great Britain’s ranking, recording an increase of 6.6%. The research examined data from HM Land Registry to reveal the cities that have faced the highest property price…
Read More →