IT sector recovery set to drive office demand

18th May, 2011 - Posted by admin - Comments Off

The on-going recovery of the UK’s tech sectors and the creation of new IT jobs is likely to increase demand for office space, a new report has confirmed.

Figures published by Knight Frank at the annual M25 Office Market Research Breakfast showed that technology firms are expected to make up half of new office space demands in the Thames Valley region within the next year.

The organisation puts the increase in demand for office space down to the creation of thousands of new jobs for both permanent and temporary workers as companies expand.

Emma Goodford, head of south east offices at Knight Frank, commented: “I anticipate the explosion of wireless communication will increase the demand from the ICT sector and forecast that, within 12 months, this sector will account for 50 per cent of [office] take-up.”

A recent report published by Savills claimed that rental growth in the commercial property sector is being led by demand for London office space.

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