Demand for grade A office space 'will increase'

Date: 01/12/2011

Businesses looking to expand and purchase additional 0800 numbers might be interested in a new report into grade A office space in the UK.

Published by Lambert Smith Hampton (LSH), the document explained the country's gross domestic product levels are set to return to pre-recession levels by 2013-14.

As a result, demand for office space will increase and firms may wish to act now if they are looking to move into new premises.

It was also noted there is a lack of grade A office space in some larger regional markets such as Bristol, Cardiff and Glasgow.

Tony Fisher, national head of office agency at LSH, said: "On the face of it availability across the UK stands at 59.7 million sq ft, which is nine million sq ft more than the market average."

However, he added that "only 27 per cent is grade A".

Mayfair is one location that some companies could be looking into when expanding, as chief executive of the British Council for Offices Richard Kauntze recently claimed it is an excellent area surrounded by plenty of amenities.