Boom in start-ups lead to office surge

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COMMERCIAL property specialist Lambert Smith Hampton says it has seen an ‘explosion’ in the renting of office space because of the business boom in Portsmouth.

On Thursday, The News reported that Portsmouth had seen 2,264 new businesses form in 2016, more than any other place in the Solent region.

Andy Hodgkinson, of Lambert Smith Hampton, the letting agent for Portsmouth developments, including Pure Offices Port View at Port Solent and Langstone Gate at Havant, said this had seen a surge in demand.

He said: ‘We’ve seen an explosion of demand from the serviced office sector in the last 12 months, due to the growth of start-up businesses.

‘Bizspace is reportedly to open a 30,000sq ft centre in Solent Business Park in 2018. Pure Offices are opening Port View in March which provides 25,000sq ft of serviced offices.

‘This market is booming as business also look for a more flexible work environment.’

Katie Whell, managing director of Pure Offices, said: ‘We are due to open in Port Solent next month and are already receiving lots of enquiries.’

They said the boom would be aided by new business rates designed to benefit small businesses which come into effect in April this year.