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Serviced office space is performing well and meeting the needs of dozens of small businesses based in the north-east of England, according to reports.
Agents from BNP Paribas Real Estate have noted a significant increase in usage and demand for serviced office space in Newcastle in recent months, with media industry operators among the latest to commit to this kind of work space.
The real estate company’s office agency director Aiden Baker explained to the Journal newspaper this week that the immediate availability and on-going flexibility of serviced office space is proving popular with businesses in a wide variety of industry sectors.
“In terms of serviced accommodation this activity has increased occupancy to 90 per cent and let to a range of different types of occupiers,” Mr Baker is quoted as saying.
According to the Journal, demand for serviced office space in Newcastle, particularly among smaller firms has led to the upper floors of Cuthbert House in the city centre being sub-divided and set-up as serviced accommodation.
As well as in Newcastle, BNP Paribas Real Estate has offices of its own in major urban centres across the UK, including in Manchester, Edinburgh, Cardiff, Leeds, Bristol and the City of London.
Earlier this week, the infrastructure services group Balfour Beatty agreed a deal to take-up just over 40,000 sq ft of office space in Newcastle at the Quorum Business Park, one of the largest speculative developments of its kind in England.