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Serviced Office Review City Focus | Manchester Q1 2012 Enquiry Levels New S.O.T Levels Workstation Price Workstation Take-Up Licence Lengths officebroker.com: City Focus - Manchester, Q1 12 City Focus - Central Manchester, Q1 2012 Central Manchester Overview: Q1 12 vs. Q1 11 City Focus reports - part of the Serviced Office Review series produced Demand for Office Space: exclusively by officebroker.com - catalogues the trends within the serviced office market in some of the UK’s largest cities on a quarterly basis. Enquiry levels decreased by 19% overall City Focus provides information on: Office Space Take-Up: The supply of and demand for serviced office space - in terms of the number The number of newly signed serviced office tenants (S.O.Ts) decreased by 17% overall of enquiries, the size and shape of those enquiries and the rate of new office space take-up. Workstation Volumes: New Serviced Office Tenants (S.O.Ts) - in terms of workstation prices and The average number of workstations (wks) per S.O.T increased initial licence length commitment. from 2.5 wks to 2.8 wks This report details activity within Central Manchester, providing comparisons Workstation Price: between Q1 12 & Q1 11, year-to-date activity and annual data compiled by officebroker.com during 2011. The average price per workstation decreased from £252.00 to £187.00 per month Commitment to Office Space: The average licence length signed by new S.O.Ts increased from 8 months to 9 months **For the purposes of this report officebroker.com defines Central Manchester as areas located within the following postcode prefixes: M1, M2, M3, M4, M8, M12 Resource Enquiries: Simon Jones tel: 0844 412 8739 email: firstname.lastname@example.org Page 2 of 6 officebroker.com: City Focus - Manchester, Q1 12 Central Manchester - Demand for Serviced Office Space Central Manchester - Serviced Office Space Take-Up Q1 12 Enquiry Levels | 19% Decrease Q1 12 S.O.T. Levels | 17% Decrease Central Manchester Q1 12 Overview: Central Manchester Q1 12 Overview: Enquiry levels across Central Manchester were 19% lower in Q1 12 when compared New S.O.T levels across Central Manchester were 17% lower during Q1 12 when to the same 3 month period in 2011. compared to the same 3 month period in 2011. North West Market Snapshot Q1 12: North West Market Snapshot Q1 12: Enquiry levels decreased by 20% across the North West region during Q1 12 when New S.O.T levels decreased by 26% across the North West region during Q1 12 when compared to Q1 11. compared to Q1 11. UK Market Snapshot Q1 12: UK Market Snapshot Q1 12: Enquiry levels decreased by 15% across the UK during Q1 12 when compared to the New S.O.T levels decreased by 9% across the UK during Q1 12 compared to the same 3 month period in 2011. opening 3 months of 2011. 19% Fewer Enquiries 17% S.O.T Decrease Page 3 of 6 officebroker.com: City Focus - Manchester, Q1 12 Central Manchester - Size & Shape of New S.O.Ts Central Manchester - Cost of Serviced Office Space Q1 12 AVERAGE | 2.8 Workstations Q1 12 AVERAGE | £187 Per Workstation Central Manchester Q1 12 Overview: Central Manchester Q1 12 Overview: Average wks take-up per S.O.T across Central Manchester was 2.8 wks in Q1 12, an The average wks price across Central Manchester was £187.00 in Q1 12, a decrease increase on the 2.5 wks average recorded in the same 3 months of 2011. on the £252 average recorded during Q1 11. North West Market Snapshot Q1 12: North West Market Snapshot Q1 12: Average wks take-up per S.O.T was 3.4 wks across the North West during Q1 12, The average wks price was £194.00 in Q1 12 across the North West, equalling the remaining in line with the 3.3 wks average recorded during Q1 11. average price recorded in the same 3 month period of Q1 11. UK Market Snapshot Q1 12: UK Market Snapshot Q1 12: Average wks take-up per S.O.T remained unchanged overall, averaging 4.4 wks in Average wks prices increased overall across the UK, rising from £283.00 in Q1 11 to both the opening quarter of 2011 and 2012. £295.00 per wks in the same 3 months of 2012. 2.8 Workstations £187 per Month Page 4 of 6 officebroker.com: City Focus - Manchester, Q1 12 Central Manchester - Commitment to Serviced Office Space The Serviced Office Review Series - Guidance on Data Usage Research & Statistics: Central London Average Licence Lengths Signed by S.O.T: Jan 10 - Dec 11 12 The data published in this and any other report created by officebroker.com is based on officebroker.com’s internal sales and marketing data, and is not sourced from any 3rd party. 10 References: 8 The reproduction of this report in whole or in part is permitted, providing users 6 reference officebroker.com as follows: 4 Cite ‘officebroker.com’ as the source of the information 2 When reproducing officebroker.com quotes, statistics, articles, or any other 0 information created by officebroker.com in websites or web documents, users must Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec include a back link to www.officebroker.com and/or the URL that is being referenced 2010 2011 The direct duplication of any unique web content created by officebroker.com is strictly prohibited Q1 12 AVERAGE | 9 Months Editor’s Notes: Central Manchester Q1 12 Overview: Founded in 2001, officebroker.com is the largest independent office space broker in the UK. The average licence length signed by new S.O.Ts across Central Manchester was 9 Working with over 95% of the UK’s serviced office market, officebroker.com offers free, months during Q1 12, an increase on the 8 month average recorded in Q1 11. consultative advice to businesses looking for office space across the UK and Internationally. North West Market Snapshot Q1 12: Contact: The average licence length signed by new S.O.Ts during Q1 12 was 8.8 months, For more information on the research and statistics provided by officebroker.com, please matching the average licence commitment recorded in Q1 11. contact Simon Jones: UK Market Snapshot Q1 12: Simon Jones - 0844 412 8739 email@example.com The average licence length signed by new S.O.Ts across the UK during Q1 12 was 8 months, equalling the average license length recorded in the same period of 2011. Page 5 of 6 The Serviced Office Review, available for: Resource Enquiries: General Enquiries: Central London | Greater London | Thames Valley | South East | South West | East of England Simon Jones tel: 0800 111 6 444 East Midlands | West Midlands | Wales | North West | Yorkshire & Humberside | North East | Scotland tel: 0844 412 8739 fax: 0870 730 1443 City Focus, available for: email: firstname.lastname@example.org email: email@example.com Birmingham | Bristol | Edinburgh | Glasgow | Leeds | Manchester | Sheffield officebroker.com | Sir Robert Peel Mill, Mill Lane, Fazeley, B78 3QD
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