NEW figures out this week show that Aberdeen continues to outperform Glasgow and Edinburgh in the growing commercial property sector, showing a 15.7 per cent increase in returns in the office sector alone.
Spurred on by strong occupier demand coupled with the low levels of office supply, Aberdeen again topped the list with the highest headline rents of any UK regional office market for 2013.
Despite quarter three of 2013 showing overall office space availability in Aberdeen increase to over 20,000 sq ft, a significant lack of available Grade A space means that headlines rents are expected to continue to rise throughout 2014.
Such increase in demand is likely to have a knock-on effect throughout the secondary market, which can be problematic for those businesses that are looking to relocate.
Yet, workplace experts Space Solutions have revealed that most companies do not always have to look outside their current premises for the answer to increased space requirements.
Studio director, Phil Muir, notes: “In most workplace utilisation studies that we undertake for clients, we have discovered that, on average, around 55 per cent of office space is wasted. Which means with a comprehensive space plan, organisations can utilise more of their current space, rather than having to spend time and money looking for new larger space.”
Focusing on the relationship between people and space, a workplace utilisation study will establish the real spatial needs of an organisation, including plans for expansion, interdepartmental links, and storage requirements, meeting rooms, reception functionality and any additional space crucial to the running of an organisation.
With this information, requirements will be set to build up a complete picture of the most efficient use of space, allowing the organisation to ‘right size’ itself into their current space.
Phil continues: “City centre occupation costs can range from £35 to £55 per square foot. By understanding the space use and requirement of each individual organisation, a business currently on a 6,000sq ft. office floor plate on an average rate of £45 per sq. ft., save £67,500 per annum if they ‘right size’ by utilising a 25 per cent space wastage.
“Sadly, there is no ‘one size fits all’ strategy. The key to a successful property strategy is to reach an understanding of the organisation, how it operates and how that can be aligned with property commitments, such as lease periods and rates, and future business requirements.
“The quicker a business understands their space requirements, the more time they have to plan and asses the deals available and realise the benefits and savings available in the current market or even, within their own office space.”
Space Solutions has been operating in the North East for over 25 years and has recently increased its services to encompass the full range of workspace requirements from audit and design, to fit out and move.
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