With the UK economy now emerging from recession, the level of enquiries for new office space appears to be improving, but there is still a long way to go.   During 2009 Q3, an 11% quarter-on-quarter increase in the number of significant* enquiries was recorded across the King Sturge UK network. The total number of individual enquiries was the highest recorded in a year at 286, while the volume of space required rose by 34%.

This result points to an up turn in occupier demand, but in the current market there may be other factors at play. Perceiving that there are bargains to be had during a recession, some firms may simply be ‘testing the water’ without specific plans to re-locate. In addition, enquiries circulating the market are likely to be more closely watched by local agents during a period of very low deal volumes.

 

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