Office uptake increases 150%

Office design news from Morgan Lovell

Published on 30-10-2009

The amount of office interior space deals taking place across the UK grew by 150 per cent in the last quarter, when compared to the previous three-month period.

Between July and September this year, DTZ Research's latest UK regional office market update revealed that in over nine UK cities - including Birmingham, Glasgow, Leeds, Manchester, Newcastle and Nottingham - there was significantly greater activity in the office interior market than had previously been the case.

Martin Davis, head of UK Markets Research, said: "Increased demand across the UK continued to be driven mainly by lease events, while transaction volume was also boosted by the completion of a significant number of long-standing negotiations."

Elsewhere, Ian Fletcher, director of real estate policy at the British Property Federation, recently noted that while figures such as this are positive news for the sector, they should not be seen as indicative of a sustained recovery taking place.

He warned people should not get carried away as 2009 has still significantly underperformed in comparison to previous years.