BizSpace reports rise in demand for regional office space

George Sell George Sell Uploaded 31 August 2020

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UK: BizSpace, the UK’s largest provider of regional flexible workspace, has reported increasing demand from companies looking to base their staff in outside major city-centre locations.

The group recorded 62 per cent more leads in July 2020 compared to July 2019, with sales for the month up 36 per cent compared to the previous year.

BizSpace has 105 business centres, principally in non-city-centre locations. It has traditionally provided space for start-ups and small businesses, but during the pandemic it has launched a new division to cater for larger firms reassessing their property strategies.

Chief executive Gareth Evans said: “Even before the Covid-19 pandemic, people were starting to embrace the concept of local working. Small businesses, freelancers and entrepreneurs choose our centres to have a high-quality working environment without the cost and inconvenience of commuting into city centres. Now, larger companies are waking up to the attraction of non-city-centre working too, principally because it’s what their employees want. As well as sharp year-on-year rises in sales and leads for July, we’ve seen a 91 per cent increase in users on our website. This growing interest in our offer is down in part to some pent-up demand but also reflects an increased call for non-city-centre workspace amongst companies of all sizes and a lack of good-quality, design-focused flexible space in these locations.”

The RICS Q2 2020 UK Commercial Market Survey, released last month, saw 64 per cent of respondents saying demand for office space in suburban locations would rise in place of urban centres over the next two years.

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