Office Market Update
Tuesday 29 March 2022
Flude Property Consultants are delighted to share with you the most recent office market update prepared by our dedicated office agents; Ed Deslandes and Lizzie Cottrell.
It was originally anticipated that the COVID-19 pandemic would result in a considerable fall in enquiries for office accommodation as the shift towards home / flexible working continued. Our understanding is that this is very much the case in certain locations; most notably in London. However, across the South Coast the office market remains buoyant with consistent levels of demand for high quality offices.
Most notably, we were recently instructed to market a 2,500 sq ft office suite in Drayton House, Chichester, and terms were agreed and solicitors instructed within six days of our confirmation of instructions. We are also excited to launch the ground floor of Unit 10, Donnington Business Park. It is the first available office suite on the estate since 2015, having been fully let since then.
In Brighton, we have experienced a particularly high level of demand for space being offered on a fully fitted or “plug & play” basis and where we have been able to achieve headline rents at levels never before seen in the local market. This trend looks to set to continue as more clients look to adapt their traditional leasing models to challenge the “easy in / easy out” offering provided by co-working and serviced office operators.
It is apparent from our conversations with business occupiers, that most employers envisage their staff returning to the office to some degree. To some extent, working from home has proven to many that the importance of social interaction and face to face meetings is not to be understated.
Click on the link below to view our market update flyer.
