Table of Contents
Executive Summary
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- The market
- Accelerating service sector fuelling office demand
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- Figure 1: UK market for serviced offices, 2011-15
- Figure 2: UK serviced office providers, by number of locations
- Bright outlook for business centre demand
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- Figure 3: UK market for serviced offices, actual 2011-14, and forecast 2015-20
- Market factors
- The rise in new businesses has increased demand in the north and Midlands.
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- Figure 4: Business start-ups in the UK, by region (Number)
- Financial services accounts for the majority of start-ups
- Diversification of office spaces to meet demand from changing working practices
- Companies
- Bruntwood
- Regus
- What we think
Key Issues
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- How are national economic conditions affecting the serviced office market?
- How will the rise in new business start-ups open up further growth opportunities for serviced office providers?
- Which industries will create the greatest demand for serviced offices?
- Which regions will generate growth for serviced office operators over the next five years?
- How can serviced office providers meet demand from changes in working practices?
UK Economy
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- Key points
- Overview
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- Figure 5: UK GDP, 2004-15
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- Figure 6: Quarters after GDP peak, 1979, 1990 and 2008
- Inflation
- Interest rates
- House prices
- Consumer spending
- Manufacturing
- Business investment
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- Figure 7: UK GFCF 2003-15
- Imports
- Exports
Market Factors
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- Key points
- Macro-economic trends and the service sector
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- Figure 8: Growth in UK economic output, 2011-15
- The local economy
- National economy
- International economy
- The SME sector and start-ups
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- Figure 9: Growth in newly incorporated companies in the UK, 2013-15
- Legislation
- Labour market
- Home working demand
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- Figure 10: Number of home workers in the UK, January to March, 2010-14
Market Size
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- Key points
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- Figure 11: UK market for serviced offices, 2011-15
- Serviced office providers continue to expand into third place and co-working facilities
- Portfolio of serviced office offerings
- Third place locations
- Co-working
- Flexible serviced offices to meet the demands of business life cycles
- Office demand business life cycle
- Innovative models are helping drive growth
- Regions
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- Figure 12: UK market for serviced offices, by region, 2014
- Largest rise in self-employment in 40 years
Market Trends
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- Key points
- Changing labour market trends
- Growing demand from new businesses and SMEs
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- Figure 13: Business start-ups in the UK, 2010-13
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- Figure 14: Business start-ups in the UK, by region, 2010-13
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- Figure 15: Business start-ups in the UK, by sector, 2010-13
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- Figure 16: Business start-ups in the UK graph, by sector, 2010-13
- Prices rising across the commercial property rental sector
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- Figure 17: Price index for companies operating in the property rentals industry, 2011-15
Industry Structure
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- Key points
- Industry development
- Acquisition extends Regus’ dominance by locations
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- Figure 18: UK serviced office providers, by number of locations, 2014
- Further acquisition
- Staffing levels rising marginally
Basepoint Centres
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- Recent company activity
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- Figure 19: Financial analysis of Basepoint Centres, 2010-14
- Company strategy
Bizspace
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- Recent company activity
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- Figure 20: Financial analysis of Bizspace, 2010-14
- Company strategy
Bruntwood
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- Recent company activity
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- Figure 21: Financial analysis of Bruntwood Group 2009-13
- Company strategy
Citibase
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- Recent company activity
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- Figure 22: Financial analysis of Citibase, 2010-15
- Company strategy
Executive Communication Centres
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- Figure 23: Financial analysis of Executive Communication Centres, 2010-134
- Company strategy
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Executive Offices
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- Recent company activity
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- Figure 24: Financial analysis of Executive Offices, 2010-14
- Company strategy
i2 Office
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- Recent company activity
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- Figure 25: Financial analysis of i2 Office, 2010-13
- Company strategy
Landmark
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- Recent company activity
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- Figure 26: Financial analysis of Landmark, 2010-14
- Company strategy
Regus
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- Recent company activity
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- Figure 27: Financial analysis of Regus plc, 2010-14
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- Figure 28: Financial breakdown of Regus plc, 2012-14
- Company strategy
Avanta Serviced Office Group
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- Recent company activity
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- Figure 29: Financial analysis of Avanta Serviced Office Group, 2010-14
- Company strategy
Forsyth Business Centres
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- Recent activity
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- Figure 30: Financial analysis of Forsyth Business Centres UK, 2010-14
- Company strategy
Forecast
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- Key points
- Market size
- Rising demand and further opportunities for growth
- Workstation rates are set to continue rising into 2016 as demand for serviced office space rises ahead of the supply of locations
- Economic indicators boost serviced office optimism
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- Figure 31: Forecast UK market for serviced offices, 2015-19
- Industry
- Adapting to a mobile workforce
- Technology led opportunities and threats
- Increasing demand for co-working spaces, led by the technology sector
Further Sources and Contacts
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- Trade magazines
- Commercial Property Monthly
- Estates Gazette
- Estates Review
- Property Week
- Trade associations
- Business Centres Association
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