16-01-2008
New data released on office space uptake
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
A flexible office space provider has released information showing a rise in the uptake of such facilities, according to reports.
Evans Easyspace has said that lettings of its property increased by 46 per cent in 2007, when compared with the company's 2006 letting figures, the Financial Times reports.
A further 300,000 sq ft of office space is being added to the firm's 50 UK business centres to cope with demand, but some speculative development has been halted following the impending abolishment of empty rates relief.
Due to be ended in April, the abolition of the rates relief will mean that firms' empty properties are no longer business rate-free for the first three months followed by 50 per cent rates for the months thereafter.
According to the newspaper, some £500,000 will be added to the firm's budget as costs as a result of the changes to the relief, which will see full rates apply to properties empty for three months or longer.
The government has said that empty properties owned by charities and community amateur sports clubs will be completely exempt from rates following the 2008 changes.