There seems to be increasing demand for Northern office space.Searches for properties across five Northern cities rose by 56 per cent last quarter year on year, compared to a 21 per cent rise in London, research finds.
Despite stagnant Northern Powerhouse initiatives, a survey from office space marketplace OfficeGenie.co.uk suggests that business is thriving in the North.
Liverpool leads the way with a 90 per cent rise on 2015 in searches for properties, Sheffield (78 per cent) and Leeds (77 per cent) follow close behind, and Newcastle (54 per cent) and Manchester (29 per cent) also come in ahead of the capital.
Chancellor George Osborne has claimed he plans to ‘rebalance our national economy’ and ensure the ‘future of the North is as bright, if not brighter, than other parts of the UK’ but when it comes to office space demand, it appears the North is already lighting the way.
The recent Budget announced a whole host of initiatives, from HS3 to local science and innovation audits, that are of interest to businesses and their prospects in the North.
Peter Ames, head of strategy at Office Genie says that a rise in office space demand is great news, reflecting a healthy business environment in which more businesses are being set up, and others are growing.
‘It proves the North of England has been, and will continue to be, a hotbed of business activity in the UK, as it was long before the Northern Powerhouse was imagined.
‘If anything it’s a good thing the project’s HQ was infamously moved from Sheffield to London; the extra space should help deal with this boost in demand!’