We are pleased to share with you our latest publication, The UK5. This report brings to you a review of the 5 largest regional city office markets around the UK: Birmingham, Bristol, Glasgow, Leeds, and Manchester. Our analysis covers the first half of the year and how that is influencing the market dynamics for the latter part of 2023 and start of 2024.
The rise in hybrid working arrangements is reshaping the demands of today’s workplaces. As requirements evolve with greater emphasis on flexibility and rationalisation of space, leasing trends will shift focus more on location, quality, cost and type of space. One such trend is a greater tenant appreciation for flexible office solutions. An uptick in existing and new flexible office providers setting up new centres in regional hubs is seeing an influx of options offering tenant’s newfound flexibility and choice.
The office market landscape varies from city-to-city, our report explores each of those differences.
As we approach 2024, there is a strong sense of anticipation that business confidence will markedly improve compared to the sluggish start of the year. This is expected to translate into an upturn in demand for office space as more and more firms continue to evolve their workplace strategies. This is whilst combatting economic uncertainty, inflationary pressures, and high operational costs which persist as immediate concerns.
It is therefore imperative that business with space plans for the regional 5 cities understand any market shifts.
To download the full report here.
If you would like any further information on this report, please do not hesitate to get in touch, or alternatively you can find out more at our website www.devono.com.