Back in September we reported on research which asserted that the tech and creative industries were viewed as fundamental to the future prospects of London’s commercial property market, and now it has been revealed that the creative industry is actually playing a significant role in supporting regional office markets throughout the country.

This is according to commercial real estate agency Savoy Stewart, who recently released a visual infographic based on CBRE research which aptly highlights now the creative industries are rising to become major players in the commercial office markets of many regions. The data shows that over the past three years, the creative industries have increased their share of UK office space outside of London from 9% in 2013, to 15% in 2015-16 – contributing an average 1 million sq. ft. annually in the South East and core regional cities alone.

The South East, Edinburgh, and Manchester stand out as the most popular destinations for creative enterprises, where commercial property take-up within the industry stands at 39%, 19%, and 16% respectively.
Further research conducted into creative talent markets found that millennials are likely the driving force behind the organic formation of creative companies outside of London, where popular consensus would believe them to be based. This is most pronounced in Manchester, Birmingham, and Glasgow, which currently hold the highest numbers of young, emerging millennials thirsty to work for a company that reflects their vision.

Analysis of a report initially conducted by CBRE provides additional insight into the demands of this emerging workforce of millennials eager to get going in the creative industries, with a particular focus on workplace design, location, and amenities. Savoy Stewart’s 6 top points of merit, selected from CBRE’s wider findings, as are follows:
  • 75% want to work in a city or large town location.
  • A third would be happy working in a business park or campus environment.
  • 50% said they would not be willing to spend more than 30 minutes travelling to work.
  • A desire for collaborative and communal space, with fluid layouts, was a reoccurring theme.
  • An office with stimulating design voted most likely to have a positive impact on work productivity and experience.
  • Proximity to a range of external amenities, such as museums, galleries and caf├ęs considered a high priority.

Sam Bonson

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently working as a content writer, journalist & editor as he continues to expand his horizons.
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