UK Suburbs Outpace City Centers For Office Demand
New research The Instant Group shows that suburban offices are surpassing city centers for the first time in over a decade.
This growing demand is being powered by workers who do not want to work from home full-time, but also do not want to commute into larger cities. Companies who are pivoting to hybrid work arrangements have accelerated this push too.
According to the data, six out of nine major UK cities are seeking lower workstation rates than this time one year ago. However, locations such as Edgbaston, Bromley, Milton Keynes and Luton have seen a spike in demand for office space.
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“As the UK comes out of lockdown, businesses want to reduce CAPEX where possible and be ‘cash-rich’, ready to invest in growth strategies, new markets or research and development rather than be heavily invested in real estate,” said John Williams, Director of The Instant Group. “The office market is responding to this and we are seeing more variation with a greater focus from landlords in providing the type of space and environment that employees now want.”
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