YORK is facing an “acute shortage” of quality office space as a record number of businesses move into the city, according to property experts.
Earlier this year the think tank Centre for Cities ranked York as one of the most prosperous and successful cities in the UK.
In the third quarter of last year, a record number of businesses were started in the city, while a national newspaper named York as one of the top hotspots for new development in the whole the country.
Richard Thornton, a partner at property agent JLL, believes positive endorsement of York will make it a prime destination for new start-up businesses and existing businesses, which wish to relocate.
But although there are new developments in the pipeline he warned there is currently an “acute shortage” of quality Grade A office space in the city.
Andrew McBeath, the managing director of York-based McBeath Property Consultancy, added: “It is important that owners and developers of empty commercial space in the county understand this demand. Some have already acted swiftly, creating office floor-plates of 2,000 sq ft or less to accommodate small companies wanting to move into new offices.”
Miles Lawrence, of York-based property consultancy Lawrence Hannah, said: “There has traditionally been a shortage of prime office space on the market in York city centre, but there is now some quality stock in the pipeline, which will ease the situation.”
Clifton Park Business Park, owned by Schroder Real Estate Investment Trust, on the outskirts of York was recently given a Grade A rating by York Council.
Occupiers include NFU Mutual Balfour Beatty, the Human Support Group, Signalling Solutions, and Cellhire. There is also a Premier Inn and the Dormouse public house at the entrance of the park.
“We have always known about the quality of Clifton Park, but this richly-deserved accolade from the council confirms its place at the very top of the York office tree,” said Mr Thornton.