Worcestershire’s office market suffered a severe downturn in April and May 2020 but overall take-up of office space was better than in 2019 according to a newly published report.
During a discussion at the video launch of GJS Dillon’s Worcestershire Commercial Property Market Report 2021, the agency’s Associate Director Andrew Lewis revealed that there was a lot of shock and panic in early Spring last year but enquiries about office space soon started up again.
‘The office market isn’t going to be the same in the future and the days of 9-5 in the office every day are probably over’ said Mr Lewis ‘we’re looking at more of a hybrid model, with staff working flexibly. As a County we are well placed to cater for that model, we just need to make sure that we’ve got enough quality space for them to come to’
In some cases, business owners are migrating out of Birmingham city centre and this has been to Worcestershire’s advantage as smaller floor plates have attracted companies looking to downsize. Demand for high-quality office space close to Worcestershire’s motorway junctions and business parks is on the rise.
Andrew continues ‘We’re not out of the woods yet in the office market as we’re still seeing a lot of availability being brought forward with people saying that they don’t need a particular size of office. But the enquiries are there to be fulfilled.’
Gary Woodman, CEO of Worcestershire Local Enterprise Partnership which worked in partnership with GJS Dillon on the report said ‘As a County we can cater for every business as we have such a wide range of options from the smaller office suites to the larger game changers. That’s one of the things that makes Worcestershire such a great place to do business’
The report is a snapshot of independent commercial property market data in Worcestershire’s office and industrial sub-markets in 2020, including Bromsgrove, Malvern Hills, Redditch, Worcester, Wychavon and Wyre Forest.