Knight Frank released its amusingly named ROMP report yesterday (that's Regional Office Market Presentation - just don't google ROMP on its own on your office computer - well maybe a colleagues) in which it compares and contrasts the market performance in 11 regional cities around the UK.
One of the most interesting graphs within the report shows Q1 2012 take up vs the average quarterly take up for 2011 ie how well has each city done this year so far? Now you have to look at the figures in context but before we do that here is how the 11 cities rank in terms of take up in Q1 2012 vs its 2011 quarterly average:
- Leeds +50%
- Glasgow +32%
- Edinburgh +23%
- Manchester -5%
- Liverpool -11%
- Bristol -16%
- Sheffield -29%
- Cardiff -40%
- Aberdeen -165%
- Birmingham -209%
- Newcastle -376%
Glasgow and Edinburgh on the other hand, while having had storming starts to Q1 compared to everywhere else, actually didn't have great 2011 for office take up so they are coming from a lower base.
The flip side of that is Aberdeen which looks like it has had a terrible start to the year when in fact it had a phenomenal 2011 recording the highest average quarterly take up of all 11 cities and it still ranks the fifth highest take up for Q1 2012.
And then there is Newcastle, while there was a brief filip last year, office take up in the city actually peaked in 2004. Ouch.
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