Official Space

January 24, 2012 08:28 ET

A City Can Be Hurt by a Lack of Decent Office Space

BIRMINGHAM, ENGLAND--(Marketwire - Jan. 24, 2012) - Property agents have warned that Southampton's financial and professional services economy could be put at severe risk due to the lack of top class office space in and around the city, according to a recent report from Jones Lang LaSalle (JLL), a commercial property firm.

Speaking about the findings, the firm's head of Southampton office, Michael Green, has said that even though office vacancy rates remain high, there is a "distinct shortage of Grade A supply in Southampton and the pipeline of new schemes has dried up".

Property agent Savills carried out a national survey and found that development activity fell for a sixth successive month in December last year, the fastest rate it has fallen since the worst parts of the recession two years ago.

Just like any other city, Southampton could potentially lose millions of pounds every year just from the lack of decent office space in the city. Despite Southampton's significant lack of serviced offices and office space they still performed well overall in the industrial property market. Take-up of industrial property in 2011 is projected to overtake that in 2010.

There are many other cities in the UK that will no doubt be suffering because of a lack of decent office space.

If however, you're in the market for a new office then you should pay a visit to and check out the kind of offices you can find in whatever city or town that you need. From Belfast to Southampton and Manchester to Cambridge, there are many different offices available to all kinds of different businesses all across the UK.

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