For the last decade, the office section was mainly placed in the provincial locations in Northampton. The main reason for that was the lack of high-quality office space in the centre of the city. A large percentage of office provision in the heart of Northampton related to the outdated secondary venues, some of which have been converted into residential dwellings or retail units. The current city centre office stock consists of around 4,4 million sq.ft. Only 7,1% of it regards to a relatively new space. The majority of venues were constructed on a pre-let basis. Small and medium-sized offices dominate the market in Northampton’s downtown. The larger occupiers take workspaces in the city’s suburban locations. The demand for office rental in Northampton is high. Though the local businesses now predominate the general take-up, lots of national and foreign ones prefer to locate companies in the city. At present, there are around 100-125 thousand sq.f. of unsatisfied tenants’ requirements for the appropriate office space in Northampton. It is due to the lack of new constructions and reduced choice. Such kind of situation makes the landlords increase the rental prices. The vacancy rate is 8,1%, which is 4-5% below the UK’s average.
