Big rise in firms moving to city

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Sheffield is “the place to be,” according to officebroker.com, the independent office space specialist.

Officebroker specialises in the serviced office space market, and gave Sheffield the accolade after seeing the number of firms moving into serviced offices in Sheffield city centre almost triple during the first nine months of the year.

Firms taking on serviced office space were also seeking more space than previously with businesses on average looking for enough space for three workstations, one more than in the first nine months of 2010.

Officebroker also reported a 12 per cent increase in the number of enquiries for general office space in the city.

The company says the average price per workstation fell by four per cent to £169 and average contract length fell by one month to nine months.

Officebroker believes one of the main reasons for the influx of tenants for serviced offices is that many firms are keen to reduce the financial burden associated with long-term commercial agreements, opting instead for shorter, more flexible deals.

Chris Meredith, UK head of sales at Officebroker, said: “The ability to adapt to change and manage the overheads associated with an essential such as office space is being increasingly highlighted by our clients.

“Long-term leases are capital heavy and can be very restrictive to many types of businesses, especially local start-ups and SMEs (small and medium-sized enterprises).”