Businesses in Manchester are using less serviced office space than in previous years.
Research by officebroker.com revealed nearly a 50 per cent drop in the amount of serviced office space uptake in Manchester.
Companies in Manchester are opting to reduce office space in an an attempt to slash costs, according to a report by officebroker.com
The company found there had been a 46 per cent decrease in the amount of serviced office space taken in the first nine months of the year, despite the number of firms taking up serviced office space remaining the same.
It’s thought that businesses are taking an average now of just three workstations, with many established businesses blaming the number of start-up companies that exist now as the reason for requirements shrinking.
Chris Meredith, UK head of sales at officebroker.com said: “Bigger businesses have been notably absent so far this year but despite this the flexible office market in the city centre continues to attract a healthy number of firms.
“The fact that these new businesses appear to have smaller requirements is not a negative, as it hopefully reflects the arrival of a growing number of start-ups and SMEs, which could see a rise in requirements in the future.”
Despite the demand for serviced office space the average price per workstation increased by 13 per cent to £223 in Manchester, while the average contract length remained the same at eight months.
Chris Meredith added: “Manchester remains one of the most sought-after locations to do business in the UK and the fact that contract length has remained constant – and above the UK average – shows that businesses moving to the city centre are doing so with a view to the medium term.”