Brighton are Top!
Friday, May 5, 2017 By Phil Graves
And it’s not just the football team that has recorded some recent success.
Brighton city is top of the 100 office locations outside of London and within the UK as having ‘the hottest potential’. Office workers in the city probably know this already, but could this be another spur for more modern office development and another boost for the economy.
Phil Graves, Director at GJ confirmed, “the city centre has experienced a spike in office rent levels in recent years due to the increased popularity of the city, the loss of almost one million square feet to residential use through Permitted Development Rights and very few new office schemes in the pipeline. It is imperative that every potential site is explored for development and to provide the city with some Grade A office space for occupiers. Rents have increased by 30-40% and new lettings are now comfortably in excess of £25/sq ft.”
The study carried out by location expert CACI on behalf of Property Week found that Brighton boasted a very affluent worker population, great access to public transport and a hotspot for business with more than 11,000 workers per square mile compared with a UK average of 7,200. The only negatives were sub standard wi-fi connectivity and poor drive time accessibility – the latter probably being a victim of it’s own success.
Dean Orgill, Chairperson of the Brighton & Hove Economic Partnership commented, “the city has long been recognised as a great place for business. But it cannot, and will not, be complacent. It is crucial that we keep looking forward and plan to maintain our deserved reputation”
Phil added, “the city plan has been an extremely important process to establish the needs for the years to come. I fully recognise the importance of providing sufficient housing capacity, but we must also seek to provide employment space at every opportunity. Perhaps a separate study should be undertaken for suitable office employment sites, similar to the one which the council commissioned for housing.”
Edinburgh and Cardiff finished in 2nd and 3rd place respectively, although the majority of the ‘hot cities’ were located in the South East.
Graves Jenkins have been particularly active in the Brighton & Hove office sector recently acquiring over 8,000 sq ft of modern accommodation in Queens Road for retained clients 15below, approximately 12,000 sq ft for co-working operator Platform Nine at Hove Town Hall and 6,500 sq ft for Newsquest (the Brighton Argus) in Manchester Street for their relocation from Hollingbury. We continue to actively seek further suitable office accommodation for clients and currently list a number of smaller offices to let for more local occupiers.
Should you require intelligent advice on your relocation or whether you seek to assign, let or sell any office accommodation please contact either Phil Graves or George Dobson at the Brighton office.