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Morgan Pryce, the commercial property acquisition specialist, has noticed a higher than usual demand for small office space in Mayfair due to increased demand from Serviced Office tennants looking to relocate to conventional space.
“We have noticed a real trend in clients looking to relocate to conventional space as major serviced office providers such as Regus and MWB raise their rates following heavy discounting during the early parts of the credit crunch” says Sean Dooley, Director of Morgan Pryce’s Serviced Office brokerage MPSO. “During the height of the crisis, providers were discounting heavily to keep voids at lower levels and this correction in market pricing is leading to clients reviewing the suitability of Serviced offices for their commercial property needs”
“Evidence suggests that pricing of smaller office space, in Mayfair especially, is receiving a significant bounce from this trend” confirmed Sally Brough, Project Director with Morgan Pryce who specilises in acquiring Mayfair Office Space.
Morgan Pryce is a tennant only acquisition agency & based in Central London