Serviced office take-up in Scotland rises 146% in October

Statistics out this week from officebroker.com show that the take-up of serviced offices in Scotland increased 146% in October, compared to the same month last year.

It comes after an inconsistent year for the Scottish commercial property market which has seen the amount of vacancies rise and fall at an unstable rate throughout the past 12 months. The research also shows October’s take-up figures equate to around 25% of the total office take-up between January and October as a whole. This figure shows Scotland’s office space market could now be well on it’s way to recovery. Aberdeen and Inverness are the two major cities behind the figures.

Smaller towns like Dundee, Paisley and Perth also managed to maintain a consistent level of take-up in October. It’s believed the decline in take-up in major cities like Edinburgh and Glasgow is due to the ongoing recession which is forcing businesses to downsize or sub-lease space to cut costs.

The economic downturn is also seeing a number of new start-up ventures. This could be behind the high take-up numbers in Aberdeen and Inverness. These two cities are much cheaper than their Edinburgh and Glasgow counterparts and provide a great location for small businesses working on an initial budget.

If this trend continues to grow, it could be the take-up of office space in smaller Scottish cities and towns that really impacts the overall national percentage compared to the usual larger business cities.

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