The flexibility they offer continues to attract, especially to tenants unable to plan too far ahead amid uncertain trading conditions.
Market leaders such as Regus are well established and popular in Newcastle and Sunderland, but not always affordable to small businesses. So opportunities have grown for smaller operators to offer less expensive options. In some cases landlords, faced with empty offices, have converted their empty space to serviced office centres.
These have let well, though they are clearly much more management intensive for the landlord. The office seekers, however, are benefiting from a wider choice of supported offices.
Neil Osborne, director at ES Group in Newcastle, cites Alderman Fenwick’s House as an example of opportunity to have modern suites in buildings of character, in this instance a mid-17thC mercantile house in Pilgrim Street. Here both traditional lease and flexible packages, on serviced arrangement, are available. Rent and service charge figure (excluding rates) are £14.50 psf. Optional add-ons include meeting rooms for hire at between £50 and £100 per day, including the historic Great Room.
At Clavering Place beside the Central Station in the newly developing Stephenson Quarter, ES Group acted for the freeholder of Clavering House and let office space to a serviced office provider, which is operating there very successfully.
At the Rivergreen Centre in Durham City, offering a parkland setting and the city centre just a mile away, office suites accommodate up to 50 desks and terms are flexible.