Flexible office competition heats up in regional cities
Co-working and serviced office providers are on course to take up more office space in the regions this year than they did in 2017 – in contrast to central London where take-up looks set to be lower.
Take-up in the regions hit 587,803 sq ft in the first half of 2018 compared with more than 792,388 sq ft in 2017 as a whole, according to the latest data from Savills. By contrast, take-up in central London was 729,602 sq ft in H1, well below the 2.27m sq ft total for the whole of 2017.
Birmingham and Manchester saw the highest take-up last year, with operators adding 217,393 sq ft and 137,686 sq ft respectively, and that trend continued in the first half of 2018. The third fastest-growing location for flexible offices by take-up was Glasgow, where operators took 72,548 sq ft.
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