Real estate

SMEs fuel biggest demand for regional office space since crisis

Research by CBRE reveals that an uptick in demand from SMEs in the regions helped boost office take-up to its highest level since the start of the downturn. CBRE said 6.35m sq ft of office space was transacted on in 2014 in the UK's nine key regions - up 15% on 2013. Growth in these regions, which include Edinburgh, Leeds, Liverpool, and Birmingham, outstripped growth of office occupation in the south east, where take-up of new office space totalled 2.35m sq ft. Bristol had the sharpest increase, with office take-up rising by 61% in the year to December. Manchester saw growth of 44%. CBRE director Ashley Hancox said the figures were an indication of improving business confidence in the regions.


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