Recent reports and analysis by Choregus, they have identified that the trend for industries, seeking newer office space in UK, has increased by a certain degree. Most of these enquiries were from the construction based firms; and in the long run would prove to be quite a promise.
They believe that these urgencies for vacant office space, for the management and admin group of the industries, would guarantee more jobs. In turn, this might help to cope with the prolonged period of recession and credit crunch faced by the nation.
Songbird estates, the name of the firm which owns Canary Wharf is reportedly close to breaching covenants on a loan of over Â£800 million. The falling value and demand for office space, as well as contracting rental values, haa landed the company in it’s current predicament. If the breach were to occur, then the lender (Citigroup) could have the right to demand early repayment. In a statement Songbird said that this would then…”cast significant doubt on the group’s ability to continue as a going concern and… it may be unable to realise its assets and discharge its liabilities in the normal course of business.”
The East end of the Glasgow is about to be restructured for the better of business. The entire Collegelands development program is estimated to be around Â£200mn, including a massive area for office space. The plan is to put up around 102,000 sq ft of office space, helping several sectors of work.
Since the Sports and Cultural staff of Glasgow, along with the Development and Regeneration Services, are involved with this office space, the work has started in the first phase of the development. The aim of this project is to modernise the office space of the council, and also bring about a little change in the working practice.
Serviced office company Forsyth, who are part of the Scarborough Development Group, have hired the services of Plough creative. The company have been brought in to help to construct a template for the company newsletter as well as assisting with the company news network.
MWB Business Exchange are reporting a healthy rise in profits, fueled by companies who need to reduce overheads whilst maintaining a flexible workspace solution. Their profits increased 5 percent in 2008 to 14 million pounds with revenues up 19pct to Â£118.7 million.
At a recession period like nowadays, Regus is willing to provide free office space to all the entrepreneurs, who are striving to get their business started. There have been around 150 candidates already, who have been selected for the scheme within a short span of about 2 months only.
Looking at the current economic crisis starters could not ask for better opportunities, than what they are being offered here. The firm seems to be quite consolidated in increasing their office space deals without cutting down on their margins, as their sales have already risen to Â£1.1bn.
The worldâ€™s largest office space providers, Regus, recorded a 25% rise in their pre-tax profits, by beating the analysts forecast and sending their shares to go higher by 20%. The ideal management of cheap offers relating to office space has seen the company rise to where it stands today.
Known for renting ready-to-use office spaces, for as short as half a day, Regus has many other offers up their sleeves that may seem thrifty for striving businessmen at this downturn. The gross rise to Â£149.2mn from Â£119mn last year, surely speak a lot for the companyâ€™s dealings related to office space.
It seems that the South Coast location is attracting several foreign companies even at a period of recession. The demand for office space in a location like that of Portsmouth would definitely prove its capacity to attract foreign trade.
The Regus Business Centre at 1000 Lakeside is a great example of utilising plots as available office space. According to sources the area is capable of providing several office spaces ranging from only 2000 sq ft to about 72,000 sq ft, as suites the companies. These high quality office spaces can be expanded or modified later on also.
The recent development of office space in Liverpool was at the Bootle town centre. This 48,000 sq ft project at St. Hughâ€™s, which towers to six storeys, was successfully completed by Bruntwood, a commercial property firm from North of England.
It took something around Â£3.6m to transform this entire plot to one of the best quality office space in entire Liverpool, which are capable of being flexed as per requirement. According to the Bruntwood head of sales, Colin Forshaw, the firm might have other investments in Liverpool but that might not involve Bootle.
The commercial property firm, from north of England, Bruntwood, has recently announced that they are going to let an office space of 8,300 sq ft at 14 King Street. This area situated at the Leedsâ€™ city centre has recently had huge benefits in the form of office space take-up, by Charles Stanley & Co. and Gatenby Sanderson.
It seems that the refurbishment of Â£2.3m over the area, to convert it to an A Grade office space covering 37,000 sq ft, paid off big time. They also believe that their business could help in supporting people looking for office space to accommodate 3 or as many as 300 employees.