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July 6, 2012

30k young entrepreneurs given free office access

Filed under: News — Tags: , , — Office Space @ 6:00 am

One serviced office space provider has recently pledged to do its part to support new start-ups by providing 30,000 young entrepreneurs free office accommodation.

The space is being made available by serviced offices provider Regus to any who apply successfuly to the new StartUp Loans scheme launched by the government recently, an endeavour which will provide as much as £82.5 million in funds and support to younger people that want to begin their own start-up. Applicants that are selected for the scheme will receive a £2,500 micro-loan and will gain access to business mentoring provided by the government, and with Regus committing to £20 million worth of office space for those selected by the scheme, that initial government loan can be stretched even further.

James Caan, former Dragons’ Den star and chairman for the scheme, welcomed Regus’ support of StartUp Loans, stating that it demonstrated how committed the private sector is to the scheme’s success. Mr Caan predicted many more firms coming forward to support young entrepreneurs in the UK by providing them the crucial help they need to get their business off of the ground.

Under the new deal, Regus will be supplying six months’ worth of unlimited use of any of their not only their 160-plus business lounges located in the UK but their entire worldwide network of 1,200 sites. Included in the deal is access to the firm’s other products and services at a discounted rate, mail handling and call answering, and a high-profile business address.

The prime minister also praised the news that Regus had decided to support StartUp Loans, remarking that the future of the UK hinges upon the contributions of companies willing to aid young entrepreneurs develop new enterprise. The government will also be offering additional help to start-ups by opening the doors of 18 of their buildings that currently sit vacant in order to provide entrepreneurs office space.

June 29, 2012

Firms to find space at motorway service stations

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Your next business meeting may soon take place at your closest motorway service station after a new office accommodation deal signed by a major serviced office space supplier, according to recent reports.

Regus, a firm that specialises in providing serviced offices in places such as train stations across the eurozone, has plans to open not one but three separate roadside by the end of the summer. The roadside centres will provide admin services, office facilities, and meeting rooms to businesses on the move from September of this year, Regus said.

The three new sites, which sees Regus’ new ‘Third Place’ division signing a deal with Extra Motorway Service Area Group, the owner of the motorway service stations, will be located on the M11 at Cambridge, the M25 ad Cobham, and the M40 at Beaconsfield. Regus chief executive, Mark Dixon, commented on the new growth, remarking that this is but one more step towards the flexible working trend that has been growing both at home and across the globe, adding that he found the opportunity to invest in Third Place’s growth is an exciting one as the company continues to scout out new locations, trial concepts, and work in concert with potential customers.

This is not the first time Regus has gone down this particular route, as the office space provider began providing a similar service in January of this year, opening remote working business lounges across Europe at Shell petrol stations.

In related news, Regus shares have been on the mend recently; after a 4.4 per cent drop to 83p, shares rose to 86p yesterday.

June 22, 2012

Serviced offices proving popular in North East region

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The North East of England has seen a substantial increase in the number of firms taking up serviced offices, it was recently revealed.

New research conducted by a leading commercial premises expert found that firms have been abandoning their traditional office accommodation in droves in order to take out serviced office space instead, with the serviced offices sector reporting a 35 per cent increase in popularity for the first six months of 2012.

Perennially popular because they provide occupiers with a solution for ‘immediate occupation,’ serviced offices consist of business centres managed by a firm that provides  integral services such as telephone answering and reception, while offering the flexibility of taking out exactly the amount of space needed by a firm – whether that be one single desk or an entire floor of the business centre.

Not only are serviced offices growing more popular, the research found that businesses are taking up more space than they did last year. Each business took up 18 per cent more space than they did over the same period of time in 2011 on average.

The only facet of the serviced office sector in the North East that didn’t exhibit any growth was average cost. 2011 figure saw average costs of £168 a month, while this year saw this price only increasing by a single pound to £169 – a negligible increase indeed. However, if demand levels increase to the point where serviced office supply begins to grow scarce, industry experts predict a rapid increase in the cost of securing serviced office space.

May 23, 2012

Yet another serviced office centre opens its doors in London

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Serviced offices are springing up all over the UK, with London being no exception – reports have emerged that Orega is unveiling their newest business centre, located in EC2 at 101 Finsbury Pavement.

The serviced office space provider says that this new business centre is one of their most ambitious projects to date, as they have high hopes that the new office accommodation will soon be the home of many local firms in the heart of the capital.  On track for an August 2012 opening, the business centre sprawls across two floors of a nine-storey edifice, hedged in on both sides by towers and boasting its own private terrace on the roof.

Orega is offering a total of 17,000 square feet of serviced space, hoping to attract firms due to its full suite of amenities, such as around-the-clock secure access, state of the art technology, and full air-conditioning.  101 Finsbury Pavement has excellent tube links as well, with Moorgate nearby, and Liverpool Street Station is also in close proximity to the office building, as is Brodgate and Finsbury Circus.

Orega’s managing director, Zach Douglas, said that the firm was accellerating its opening programme within the capital after the success of its Hammersmith business centre’s launch two months ago.  Calling Finsbury Pavement a ‘fantastic’ locale, Mr Douglas praised the space for the added bonus of the roof terrace, stating that it offers clients a literal breath of fresh air and gives their property that extra bit of appeal to those looking for something new and unique within London.

The 11th Orega business centre to date, Finsbury Pavement joins two other offices opened in central London, located in High Holborn and Hammersmith.

May 14, 2012

Serviced offices grow popular in the North East, survey says

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According to a recent survey, the first quarter of 2012 saw the popularity of serviced offices in England’s North East grow at a rate of 61 per cent, commercial office space experts say.

A recent article appearing in the Serviced Office Review disclosed the findings of a research survey carried out regarding the popularity of serviced office space within the region found that there was an increase in the amount of firms in the North East taking out serviced offices.  This was noteworthy, the researchers added, because the first quarter of 2011, in comparison, actually boasted a higher number of enquiries than for the same period of time this year.

There was very little drop-off in the number of required desk space taken out from 2012’s first quarter in comparison to the same time period in 2011, with only a minimal drop to 3.5 workstations in comparison to 2011’s 3.7 workstations.  However, firms in the North East are still lagging behind the 4.4 workstation national average in the UK in regards to overall volume demands, the research discovered.

Costs for serviced offices also decreased on average within the region in comparison to 2011’s first quarter, office accommodation experts say.  The average monthly rate was found to be £164 per workstation, according to the research, which means that it is £131 less expensive to take out a workstation within the North East than it is in other regions, with the current UK average resting at £295 a month per workstation.

However, price decreases within the region were balanced out by the amount of commitment businesses were showing to serviced offices by relocating to serviced office centres, as lettings grew in length to more than 10 months on average, up from its previous average of only 9 months.

May 4, 2012

Serviced offices in Edinburgh less expensive, experts say

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The cost of serviced offices in Edinburgh has declined by more than one-third, making it much more affordable than it has been in recent months, experts say.

Serviced office space in Scotland’s capital used to be the most expensive accommodation of its kind throughout the country, but new figures indicate Q1 2012 costs for the serviced commercial premises have gone down by 36 per cent compared to 2011’s first quarter.  Take-up levels have also remained flat across the past 12 months as well, the research discovered, leaving a market that was once nearly as expensive as the London serviced office space market now trailing beneath Aberdeen, where both take-up and average price increased by approximately 33 per cent.

The substantial price fall was most likely precipitated by larger companies, such as Tesco, relocating to new premises, therefore leaving an excess of supply.  However, cheaper workstation prices will most likely act as an incentive for businesses to move to Edinburgh, researchers say.

The study focused on Edinburgh’s EH1, EH2, and EH3 postcodes, and one researcher said that while the Scottish capital has traditionally been thought of as one of the more expensive office markets in the UK, with companies willing to pay a headline rent for space within Edinburgh, pricing across the capital has been affected by the movement of quite a few large-scale occupiers over the past few months.

However, the survey did find that the amount of commitment companies were making to the city was increasing.  Firms were found to be signing tenancy agreements with much longer terms than they have in the past, indicating that growth will most likely be steady over the coming years.

April 23, 2012

Bristol office space market shifts towards serviced space

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The Bristol office space market has shifted towards serviced offices as a result of economic pressures and working practices changes, according to one property firm.

Commercial premises company Instant says that the city’s office market has shifted towards a more decentralised and fractured nature, with the serviced office space providers in Bristol experiencing a marked increase in demand.  There are more than twice the number of serviced offices in Bristol today than there were in 2005, according to Instant’s research study, with 2011’s figures indicating that there are 49 business centres in the city while there were only 23 such business centres present in 2005.

The total number of workstations in the city were found to be 7,590, making Bristol the 15th-largest worldwide serviced office space market.  However, workstation pricing has not necessarily grown with demand, as the average 2011 price of £226 was significantly lower than its 2006 peak of £276.

As the fourth largest market for office space in the UK, Bristol is dwarfed only by Birmingham, Manchester, and London.  However, Instant’s research indicates that the city’s growth is reflective of many other cities in the UK, indicating why the country currently holds the top slot in the global serviced office space marketplace.

Every one of the top markets in the UK have at least doubled their available volume for serviced offices since 2005.  The only exceptions to this rule have been Edinburgh, which only grew at a rate of 50 per cent, and London, which experienced a 43 per cent growth increase.

One of the swiftest growing commercial property market sectors, serviced offices are growing steadily.  There were 5,484 business centres worldwide in 101 different countries in 2011, an increase of 18.5 per cent from 2008 figures.

April 18, 2012

Serviced offices in Manchester rise in popularity

Filed under: News,Serviced Offices — Tags: , , — Office Space @ 6:00 am

The popularity of serviced offices in Manchester has led to people re-thinking how to get work done in the North West region, according to newly released research figures.

The amount of serviced office space available in Manchester has increased by more than double over the past seven years, researchers say.  Serviced office space in Manchester city centre now houses in excess of 13,000 employees, providing workstations and related facilities for a low monthly fee, leading to the revelation that the take-up traditionally leased offices in the city has been stagnant over the past three years.

There were only 37 business centres in Manchester in 2005 offering serviced office space, according to the research findings.  However, that figure has increased to 77 as of last year, making Manchester only behind London when it comes to the largest market for serviced offices in the UK, and also claiming the seventh-largest market worldwide.

The city, with its more than 13,000 individual workstations, is also growing at the fastest rate when it comes to serviced offices, with the next closest markets, Edinburgh and London, growing by only 50 per cent and 43 per cent respectively.

Even though the global economic downturn is still in full swing, market prices for an average workstation located at a Manchester business centre is a highly robust £276 per month, the research found.  Industry experts stated that the impetus behind this growth can be attributed to revolutionary technological advances that have changed the way companies choose to occupy space, such as the internet granting workers the flexibility to work wherever and whenever they like.

March 6, 2012

Avanta announces new serviced offices in London

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The W1 postcode in London is now the home of new serviced offices from Avanta, with the company announcing a 11,000 square foot space opening up in the West End.

The serviced office space provider announced that its new business centre, the Grade II-listed building at 4 Cavendish Square, has desk space for 130 staff and boasts an auditorium that can accommodate as many as 32 people.  Alan Pepper, Avanta chief executive, commented on the new building, stating that it is part and parcel of the firm’s niche plan for the development and generation of income streams for property owners and landlords, with the arrangement at 26 Dover Street following along similar lines.

4 Cavendish Square was refurbished just four years ago at a cost of £4 million, Mr Pepper recounted.  The chief executive added that the building will be made available to clients as soon as its high capacity IT system is fitted – an installation process which is currently underway.

Developed by Avanta under a management agreement with Barwa Capital (UK) Ltd, the building’s owners, the scheme benefits from Avanta’s excellent response time, straightforward approach, and expertise, said Banwa Capital’s Aamir Khan.  Mr Khan said that the property developer examined a number of possible operators before selecting Avanta, and that the alacrity in which David Alberto, Avanta’s founder, returned a call from Banwa Capital played a major role in the serviced offices firm being awarded the development deal.

Due to open later this March, this latest business centre in the Avanta portfolio is set to join the firm’s 650,000 square feet available across its existing 15 centres in the Thames Valley region, London, and Edinburgh.

February 14, 2012

Newly available serviced offices come to London

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Newly available serviced office space has come to the capital, as two new business venues from commercial premises supplier Ventia open their doors on on Suffolk Lane, Princess House EC3 and Covent Garden, Henrietta Street WC2.

The serviced offices provider has two interconnected buildings on its Covent Garden site, spanning 10,000 square feet and offering six storeys of space available to let in a modern, and quiet environment only minutes from central London.  The commercial premises has been fitted out with the latest in modern décor and communications technology, according to Ventia, and has accommodation for as many as 50 staff in a fully furnished and unbranded venue.

Ventia’s director, Daniel Wheble, said that the firm was quite proud to open the doors of yet another of its business centres, citing the building’s cutting edge professional services, modern interior, and classic Victorian townhouse facade in making it a ‘fantastic place’ for the firm’s latest venture.  Mr Wheble also expressed his excitement about having the ability to offer such high quality offices in one of the most coveted and prestigious locations in London, and industry experts predict that technology start-ups migrating from Silicon Roundabout and interested in Covent Garden may be quite interested in the newly unveiled available space.

Princess House, the firm’s second newly opened business centre, near the tube station around the corner from Cannon Street, was also opened recently.  A large range of flexible accommodation for as many as 14 staff members has finished being completely refurbished at the location in order to offer potential clients full services and the latest technological advances, Ventia representatives recently remarked.

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