INDUSTRY NEWS

London’s 414 serviced offices largest number in the world

Despite the ongoing climate of financial austerity, London has become the biggest global market for serviced offices.

According to a study by a renowned broker of flexible office space, London offices make up the largest amount of serviced offices in the world – with a figure standing at 414, accounting for 8 per cent of the overall total.

The author of the report and head of market research at Instant, Branton Moore explained: “This comprehensive study of the global industry highlights how companies, in a diverse range of sectors are looking for ever more flexible ways to manage their business and to reduce costs and risk around their fixed assets.”

Meanwhile the UK’s serviced office market saw a growth of 19 per cent in spite of the recession.

Moore finished by adding: “Companies are also looking for convenience to mobilise staff globally, without raising the sakes by committing to long term property contracts.”

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office space