Serviced Office Industry Thrives in Midst of Credit Crunch
United Kingdom of Great Britain & N. Ireland (Press Release) May 7, 2008 --
With the credit crunch continuing to bite and commercial mortgages harder to find, it’s no surprise that the serviced and virtual office industry is benefiting from the economic downturn.
Small and medium sized companies are attracted to serviced offices by transparent cost structures, immediate availability and short term agreements that make budgeting easy. Companies are not keen to invest in commercial property while returns are low and the market uncertain and are waiting to see how long the credit crunch will last.
Elaine Purdy, Facilities Director in The Belfast Business Centre says “We have experienced a notable increase in demand for serviced offices which reflects the cautionary mood of local businesses. Government investment in Northern Ireland has also increased the demand for serviced office accommodation as companies testing the Northern Ireland market, use the facilities to prepare bids and support new contracts”.
Small and medium sized companies are attracted to serviced offices by transparent cost structures, immediate availability and short term agreements that make budgeting easy. Companies are not keen to invest in commercial property while returns are low and the market uncertain and are waiting to see how long the credit crunch will last.
Elaine Purdy, Facilities Director in The Belfast Business Centre says “We have experienced a notable increase in demand for serviced offices which reflects the cautionary mood of local businesses. Government investment in Northern Ireland has also increased the demand for serviced office accommodation as companies testing the Northern Ireland market, use the facilities to prepare bids and support new contracts”.
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