3 October 2016 | Herpreet Kaur Grewal

The demand for regional offices has returned to pre-recession levels over the past three years as strong economic growth has driven increased letting activity, according to a report by Bilfinger GVA.

While the traditional sectors of financial and professional services still provide the largest share of demand the strongest growth can be found in the technology, media and telecommunications sectors, says the report, which analyses office take-up trends across the UK’s main regional office markets.

A key trend in the demand for offices is continued changing working methods and technology, it adds.

While flexible working means desk space is being occupied more densely, collaborative working and informal meeting spaces means that this is not necessarily leading to a reduction in the overall requirement for office space, the research reveals. 

Ian Stringer, a senior director at Bilfinger GVA, said: “The total regional office demand from tech companies in the past five years has increased from 8 per cent in 2009 to 20 per cent in 2015. In quantum terms an increase of 240 per cent”.

Offices: Who needs them?