Office refurb for grade B space 'the right choice'

Office design news from Morgan Lovell

Published on 18-06-2010

A report by Jones Lang LaSalle has highlighted how grade B office space could be used to make up any shortfall in supply for grade A premises.

It stated that office refurbishment plans are as yet not underway for many of these sites, but it would make good fiscal sense to focus on upgrading existing stock rather than building new office blocks.

Head of Jones Lang LaSalle's national offices team in Birmingham Jonathan Fear stated that there will likely come a point when limited options in terms of grade A real estate will make this move essential.

"Upgrading Grade B space to Grade A standard is a logical, relatively low risk opportunity to bridge any supply gap," Mr Fear commented.

Jones Lang LaSalle presently employs more than 30,000 people in 750 locations across 60 countries around the world.

It specialises in delivering market insights and research to help businesses grow.

Posted by Adrian Norman.