Office Space in Wimbledon- Demand & Benefits
As well as replacing a tired block with a high quality, sustainable new building our proposals will deliver much needed Grade A office space in Wimbledon Town Centre. The site is designated by Merton Council for office led employment space. Research shows there is a large demand for office space, particularly Grade A office space in Wimbledon going forward. At present there is very little available office space and future demand is expected to outstrip current supply.
CBRE's research suggests that the office market in Wimbledon consists of:
Grade A - 660,000 sq ft - of this just 30,000 sq ft is vacant, which is less than 5% availability.
Grade B - 192,000 sq ft - of this about 5-10,000 sq ft is available. Again less than 5% available.
Need for office space
Office space also plays a key role in the economic viability of the town. Helen Clark Bell, the Chief Executive of Love Wimbledon BID has figures that show the economic importance of offices to the Town Centre.
The below is a quote from Helen Clark Bell on this subject:
"Office space in Wimbledon is hugely important for the town. Not only does it provide employment opportunities but it is evident that the offices in Wimbledon help sustain the many wonderful shops, restaurants and cafés in Wimbledon town centre. Peak footfall for the town centre is regularly recorded as weekday lunchtimes, (often 25% higher than a weekend peak) when around 15,000 employees from the offices frequent the town’s lunch spots and shops. Pubs, bars and restaurants also report strong relationships with businesses in Wimbledon for evening trade too and from our surveys the town is seen as a great place to work by employees. The town has a symbiotic relationship reliant on the office based businesses to maintain and attract new retailers helping to keep many of the shops and restaurants/cafes open and viable for local people to enjoy too."