Thanks to its unrivalled location at the heart of the London-Stansted-Cambridge UK Innovation Corridor, the county of Essex is one of the most notable territories in England with a favourable business climate. Because of the rapid economic growth, the demand for office space in Essex has recently exceeded the point of 1 million sq.f. It happened for the first time in the last ten years, primarily due to the increase of demands for the large workspaces. The requirements for spacious offices(above 50 thousand sq.f.) in Essex accounted for 34% of total demand this year. The leases tend to be focused on small venues, with almost three-quarters of transactions referring to offices of less than 10 thousand sq.f. in size. The supply of office spaces in Essex increased slightly and reached the point of around 550 thousand sq.f. 83% of this amount refer to used good offices, the availability of Class A suites stands at 91 thousand sq.f. Comparing the sizes of offices for rent in Essex, the majority of them are small and medium(66%), the remaining 33% accounts for spaces, which size exceeds 25 thousand sq.m.
