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Monthly figures show UK office occupancy hit highest levels in March

Apr 8, 2024 | Public | 0 comments

March 2024 recorded the strongest month for office occupancy since May 2021, with a daily average office occupancy rate of 34.1 per cent, according to the latest report from Remit Consulting.

The previous highest monthly average of 33.8 per cent was recorded in November (2023). Since the end of January, the UK’s weekly average occupancy rate is 33.2 per cent.

The surge has seen national occupancy rates solidify at 34-35 per cent over the last three weeks of March, with the week ending 8th March witnessing a national average 35.9 per cent occupancy rate, equalling the highest weekly figure recorded since the start of the survey.

Tuesdays, Wednesdays, and Thursdays remain the busiest days of the week for staff to be at their desks, with Friday remaining the quietest day.

During the week ending 22nd March, London’s West End saw one of its busiest weeks on record with an average office occupancy rate of 58.3 per cent.

Lorna Landells of Remit Consulting, said: “The sustained increase in occupancy levels may be attributed to concerted efforts by both public and private sectors to enhance office attendance.

“Cities across the country have observed upticks in occupancy levels, and this increase underscores a ‘firming up’ in the commitment of businesses and their workforces to return to physical office spaces. The data points to the adaptive strategies businesses are employing to encourage and manage office attendance effectively, signalling a positive outlook for the office market.”

There are diverse views in the property sector regarding what constitutes maximum occupancy for offices, with some industry commentators suggesting that, due to holidays, external meetings, staff sickness and other operational issues, offices were only ever 60-80 per cent ‘full’ before the pandemic.

Previous research from the BCO suggested a figure of 60 per cent, while other market practitioners suggest a figure of between 70 and 80 per cent at peak times in the calendar, although this will have varied widely according to individual buildings and businesses.

Navigating FM efforts to sustainability As environmental protection demands unified action, transparency, and heightened awareness, Biological Preparations has launched an initiative to catalyse sustainability efforts within the FM sector.

FM businesses face unique challenges and heightened expectations of eco-initiatives from their clients. Yet, behind the scenes in FM businesses, many environmental initiatives, rollouts and even planning, are not broadcasted and transparent.

Have your say: Sustainability Trends in FM 

The UK biotech company’s five-minute, anonymous FM-focused survey, offers FM professionals of all hierarchies with a platform to voice their perspectives and share their experiences. The results from this survey will then be analysed and presented as an industry-specific report, which aims to guide FM businesses helping them benchmark trends, gain clarity on industry challenges, and map out goals and metrics towards sustainability.

To share your experiences, please click here.

The post Monthly figures show UK office occupancy hit highest levels in March appeared first on FMJ.


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