Further evidence of the UK economy’s recovery has been widely reported alongside an increased demand for office space across the country. In October one report on a rise in construction activity in the regions was mirrored by another highlighting demand in the Technology, Media and Telecoms (TMT) sector for higher quality business premises. Additionally reliable figures from the property industry report that investment is starting to flow into the regional economies throughout the UK.
Much of the current interest is in properties and locations with strong data and infrastructure connectivity, to support the technology needs of web-based businesses as they expand into “bricks and mortar” companies. According to these reports, developers have started to respond, speculatively investing in large scale developments in towns and cities across the UK. However, with many of these projects are due to be finished within the next 2 – 4 years, therefore there is a shortfall in high quality office space for companies looking to relocate right now. This is particularly the case for companies looking for space outside many of the UK’s major cities. Typically these locations will have excellent digital connectivity as well as convenient transport and logistical infrastructure links. Inevitably demand is high and as the recovery in the UK’s economy strengthens, the rental demand for high quality office facilities is building.
“The office rental market outside of London is picking up quite quickly. The time lag before new projects are completed means there could be something of a squeeze as demand outstrips supply – pushing prices upwards.”, said a representative from Commercial Property specialists Pearl & Coutts. “But at times of increased pressure on the office letting market, we do our best to offer competitive rents. We often have premises waiting to be able to offer you the right property, in the right location for you. And in today’s start-up market there’s a strong urge amongst entrepreneurs to hone in on the right base for their project. Location can play an enormous role in the success of a new company.”
Pearl & Coutts’ property consultants have overseen the expansion of many successful tenants in the last 40 years, providing a safe haven for British companies old and new as they grow from strength to strength. With their ability to a suitable property to house your new business, and their unique local growth opportunities, Pearl & Coutts could be the right property partner for your next move.
To speak to their team about office rental opportunities in outside London call 020 7843 3788 or visit www.pearl-coutts.co.uk
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Pearl & Coutts Ltd
