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  • Encouraging signs for the local office market

Encouraging signs for the local office market

15 Jul 21

As we emerge from the pandemic, lots of questions are currently being asked about the future of offices and working practices.  Businesses across all sectors are reviewing their requirements and facing the challenge of establishing their future space requirements, the need to improve working environments and deciding upon the optimum location.

In 2020 we saw very limited activity in the office market but we have seen some encouraging signs during the first half of this year, with enquiries and transactions increasing across all three of our commercial offices in Chelmsford, Colchester and Ipswich.  In the first six months of 2021, office sales, lettings and lease renewals accounted for 121,000sq ft and we currently have approximately 165,000sq ft either under offer or in the advance stages of negotiations.

Michael Moody commented “Despite the obvious impact on working practices, demand remains strong for good quality office space in the region and rents appear to be holding firm at pre-Covid levels, and in some instances increasing.  The majority of enquiries are coming in from companies who are already based locally and looking to expand, perhaps in order to create a regional hub.  However, we are also encouraged by the growing number of enquiries from other businesses looking to establish a presence in our area, especially those looking to relocate from London.”

The Octagon, Colchester

The Octagon is a prestigious building in central Colchester with modern suites ranging from 1,858sq ft to 10,248sq ft, 24hr reception/security, parking and an onsite café.  Please contact Michael Moody on 01206 854545 or find out more here.

As businesses embrace agile working arrangements, the function of office space is likely to change and occupiers will look to secure the highest quality, adaptable space on flexible terms.  Alistair Mitchell added “We act as letting agents for CEG, owners of both The Octagon in Colchester and Crown House in Ipswich, two prominent landmark buildings that offer some of the best accommodation around.  Our clients have listened to their tenants and have invested significantly in the provision of modern accommodation, wide ranging facilities, and a range of leasing options.  The quality and flexibility of space these buildings provide, coupled with the landlords willingness to offer either conventional FRI or short term leases is exactly what the market is looking for as business adapt to new working models.”

Crown House, Ipswich

Crown House offers contemporary and affordable office space in the centre of Ipswich with secure access, superfast broadband and an award winning onsite cafe.  Contact Alistair Mitchell on 01473 232701 or find out more here.

John Logan comments ‘we are delighted to have brought this prestigious office building to the market. It provides substantial floorplates of up to approximately 40,000 sq. ft. with numerous access points, which allows for very flexible office accommodation to suit occupier requirements. Considering the convenient access from Parkway, the excellent car parking provision on offer and proximity to Chelmsford train station, we expect Eastwood House to prove a very attractive proposition for occupiers.’

Eastwood House, Chelmsford

In Chelmsford, Eastwood House has also just been brought to the market, which comprises just shy of 125,000 sq. ft of high quality office space to let.  Please contact John Logan or James Wright on 01245 261226 or find out more here.

We are keen to understand your requirements and assist your business achieve its objectives and if you would like to discuss your office requirements please do contact our agency teams in Chelmsford, Colchester or Ipswich.

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Woodbridge

Nunn's Mill, Quayside, Woodbridge, IP12 1BN Email: woodbridge@fennwright.co.uk

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Monday - Friday 08:30 - 18:00
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Sunday Closed

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Woodbridge estate agents 01394 333346
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01394 333346

Kesgrave

127 Main Road, Kesgrave, IP5 1AB Email: kesgrave@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

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Kesgrave estate agents 01473 358400
Signature property specialists 01473 358400
Suffolk commercial property agents 01473 232701
Kesgrave letting agents 01473 417711

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01473 358400

Felixstowe

120 Hamilton Road, Felixstowe, IP11 7AB Email: felixstowe@fennwright.co.uk

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Monday - Friday 08:30 - 18:00
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Sunday Closed

Our agents

Felixstowe estate agents 01394 548700
Felixstowe letting agents 01394 382263
Commercial property agents 01473 232701
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01394 548700

Ipswich

1 Buttermarket, Ipswich, IP1 1BA Email: ipswich@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Ipswich estate agents 01473 232700
Signature property specialists 01473 232700
Ipswich letting agents 01473 417711
Commercial property agents 01473 232701
Suffolk Farms & Estates specialists 01394 446550
RICS Surveys 01473 417718

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01473 232700

Manningtree

2 Station Road, Manningtree, CO11 1AA Email: manningtree@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Manningtree estate agents 01206 397222
Manningtree letting agents 01206 585400
Signature property specialists 01206 397222
Essex commercial property agents 01206 216565

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01206 397222

Sudbury

26 Market Hill, Sudbury, CO10 2EN Email: sudbury@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Sudbury estate agents 01787 327000
Sudbury letting agents 01787 327010
Commercial property agents 01206 216565
Farms & Estates 01206 216550
Signature property specialists 01787 327000

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01787 327000

Colchester

146 High Street, Colchester, CO1 1PW Email: colchester@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Colchester estate agents 01206 763388
Signature property specialists 01206 507607
Colchester letting agents 01206 764499
Essex commercial property agents 01206 216565
Essex new homes agents 01206 763388

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01206 763388

Stanway - Head Office

Head Office, 1 Tollgate East, Stanway, Colchester, CO3 8RQ Email: stanway@fennwright.co.uk

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Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Commercial property agents 01206 216565
Stanway estate agents 01206 216543
Stanway letting agents 01206 764499
Lettings maintenance team 01206 245888
Farms & Estates 01206 216550
Water & Leisure 01206 216555
RICS Surveyors 01206 245895
Finance department 01206 245894

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01206 216543

Witham

64 Newland Street, Witham, CM8 1AH Email: witham@fennwright.co.uk

Opening hours

Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Witham estate agents 01376 516464
Witham letting agents 01245 491111
Commercial property agents 01376 530135
Building Consultancy in Essex 01245 211990

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01376 516464

Chelmsford

20 Duke Street, Chelmsford, CM1 1HL Email: chelmsford@fennwright.co.uk

Opening hours

Monday to Friday 08:30 - 18:00
Saturday 09:00 - 17:00
Sunday Closed

Our agents

Chelmsford estate agents 01245 292100
Commercial property agents 01245 261226
Building Surveyors in Essex 01245 211990
Chelmsford letting agents 01245 491111

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01245 292100

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