Affordable offices in Croydon amid office space shortage in the south of the uk
We still have a couple of vacancies!!
If you’re thinking about your first office or an office move to something cheaper, larger, smaller or better, we have three offices available for 3-5 persons, at an affordable rate.
Our modern enterprise centre is situated in a prime position with free parking close by and excellent transport links to major rail stations and the surrounding area.
Please CLICK HERE to view details.
Office space shortage in the south east
Major towns and cities in the South East including areas around Kingston upon Thames are facing a shortage in office space supply.
The situation in the region is stark with development activity in the office market just 840,000 square feet of speculative space delivered to market in 2018, down from 2.4 million in 2017.
Analysis by global property adviser Knight Frank, (one of the world’s largest global property consultancies) found strong demand from tenants but a lack of supply. The report identified five town centres which now have less than two years’ supply – Watford, Croydon, Brighton, Cambridge and Oxford.
As businesses stay put the lower vacancy rate is also impacting the situation. The report found vacancy rates in the M4 corridor will fall to just 5.3% by 2021 whilst it’s even worse in the M25 at 3.8% for new and grade A offices, the premises most in demand.
Office space will be placed under even greater strain as forecast growth in the region will create 14,000 new jobs in the next five years, according to Knight Frank’s M25 Report 2019. It identifies life sciences, media, computing and professional services as strong areas of growth in the area which currently dominate active enquiries seeking 1.65 million square feet in buildings over 50,000 square feet. However, this demand cannot be met in the Thames Valley as only six self-contained buildings over 50,000 square feet remain available.
Knight Frank identifies the main issues being lack of speculative funding availability and rising build costs.
Bearing all of this in mind, it makes sense to consider an office unit at Weatherill House, particularly if you are a start-up business in need of affordable business space.
Please email us on info@startupcroydon.co.uk for direct enquiries.