Milton Keynes has the most vacant office spaces in the whole of the UK, including the capital, with 13 offices available per 10,000 of the new city population.
That was the finding from the small business comparison site Bionic, which used data from Zoopla to
The cost of running an office in Milton Keynes is £907.20 per 1,000 sq ft a month, which is inclusive of rent (£4,787), utilities including energy bills (£243.17), and internet (£25.67).
Overall, renting an office in the city could cost a business upwards of £10,886.40 per year per 1,000 sq ft - the second most expensive place in the UK to run an office, suggesting why office space is the most vacant.
“In the long run, Milton Keynes’ high office vacancy rate could actually work in the city’s favour,” said Les Roberts from Bionic, “Our research suggests that by December 2027, most people will be back in the office full-time. As demand for workspace grows, Milton Keynes’ available office stock may attract new businesses, bringing in more money and boosting footfall across the city.
“In the short term, however, the large number of empty offices will likely reduce property tax revenues and hurt local hospitality businesses, as fewer workers are spending money in the area. This financial strain could trigger broader shifts in the city’s business ecosystem.”
Source: https://bionic.co.uk/business-energy/guides/future-of-employment-uk/
