According to the latest report from relocation specialists’ helpmovingoffice and post-construction lead specialists Office Moves, it was London that dwarfed all other regions with 31 per cent of the total UK office move requirements in 2016, more than double when compared to the second placed South East.
Overall, the UK saw a year-on-year increase in office move requirements (seven per cent) in 2016 but the yearly figure London was actually down by six per cent, however due to the sheer amount of office moves still recorded in London meant that it was a healthy and productive year for the office relocation service industry.
The biggest increase (12%) of all regions was the West Midlands in 2016, fuelled by the recent spike in office moves across Birmingham, with the city in particular having a really strong year with big firms such as BDO and DAC Beachcroft moving across the city.
However many firms did put their foot on the brakes when it comes to office moves last year, trying to avoid making a decision about their property situation in the run up to Brexit.
Simon Rhodes, Group Commercial Director at Office Moves commented on the findings from the report “With the EU referendum creating political and economic uncertainty, spilling over into the office moves industry in 2016 where activity levels were down by 18 per cent compared to 2015, we assume that many companies were and still are ‘holding their breath’ until a Brexit future is clearer.”
“However 2017 will provide a host of opportunities, particularly for prospective office move tenants. Many companies will be in a position to move office and could benefit from reduced rents and favourable break options as landlords try to fill any empty spaces and will be highly motivated to do deals.”