DEMAND SOARS FOR SMALL OFFICE SPACE IN PETERBOROUGH
Increased demand comes as number of SMEs in the city rises to 7,660*
Leading property and asset management firm, FI Real Estate Management (FIREM), has reported a surge in demand for small flexible office space as the business speeds ahead with its transformation of its flagship Lynch Wood Park office campus.
Responding to a rise in demand amongst Peterborough’s small business community, FIREM is undertaking a major refurbishment programme at Lynch Wood Park, which will include offices for short and long-term lease with space available from one desk up to 50,000 sq ft.
The increased demand for office space amongst the small business community closely follows research* that ranked Peterborough as the fourth most entrepreneurial city in the UK, with the number of SMEs in the city increasing by 4.2% in 2021.
Located on the site of the former Pearl Centre, the Grade II Listed Lynch Wood Park campus sits at the heart of Peterborough Business Park, three miles west of Peterborough city centre.
The unique campus totals 350,000 sq ft across 11.74 hectares and offers businesses a range of office space within landscaped grounds, with a variety of leisure amenities on site.
FIREM’s investment at Lynch Wood Park has seen the estate transform into a hub for the 21st century business community. In March this year, Anytime Fitness have signed a long term lease for 14,000 sq ft of space on the ground floor and FIREM has partnered with Drax Electric Vehicles to install 12 state-of-the-art EV charging points.
Additional plans at Lynch Wood Park include the creation of a brand new on-site restaurant, refurbishment of all common areas and the renovation of the lake situated within the grounds.
A spokesperson for FI Real Estate Management commented: “As part of our investment in Peterborough, we are spending time with the local business community to understand their aspirations and ensure that the office space that we bring to market meets those needs. What we are seeing, more than anything, is that there is huge appetite for smaller, more flexible spaces, and addressing this demand is a core part of our refurbishment strategy at Lynch Wood Park.”
*Survey conducted by SME insurance provider, SuperscriptBack to News