Demand for premium office space in Swindon hits new high
Demand for premium office space in Swindon has soared in recent years.
F1 Real Estate Management’s (FIREM) 3 Newbridge Square’s dedicated flexible and serviced offices, FigFlex, is now 97 per cent occupied.
The record occupancy follows a strong year for FigFlex in Swindon with enquiries increasing 73 per cent between 2022 and 2023, with 17 new businesses moving into 3 Newbridge Square in 2023.
Demand for the comes two years after FigFlex launched at the distinctive Swindon hot-spot, bringing a suite of five air-conditioned, sound-proofed meeting rooms and a range of serviced offices to the Swindon market.
A small amount of space at 3 Newbridge Square remains available on conventional lease terms with good levels of interest in the remaining 11,447 sq ft.
Future plans for 3 Newbridge Square include further improvement works on the ground floor, with the new space launching to market this year.
FIREM is also planning a £250k investment to transform the exterior of 3 Newbridge Square to complement the neighbouring 1 Newbridge Square, where the developer has invested £10m to create the town’s most prominent office development.
Offering high quality, sustainability and wellbeing to its tenants, 1 and 3 Newbridge Square are leading the Swindon office market with Hays Recruitment and Method Consulting both taking at 3 Newbridge Square in 2023.
Tim Knowles, Founder & Managing Director of FI Real Estate Management Founder and Managing Director, commented: “Our ongoing investment in Newbridge Square is a big part of our wider commitment to Swindon town centre and to making our office developments an important catalyst for wider regeneration. We have a placemaking vision for Swindon, and we’re working closely with Swindon Council and wider business stakeholders to ensure that we are creating a vibrant district that makes Swindon a bustling place to live and work. The interest we have had in our office space at 1 and 3 Newbridge Square is proof of our success in leading the town’s office market.”
Daniel Smethurst of Smethurst Property Consultants, the letting agents on 1 and 3 Newbridge Square, commented: “FIREM’s commitment to the town should not be underplayed as they have created some exceptional workspace that will appeal to modern working practices throughout the region. Workplaces have evolved since the pandemic and the vision and thinking behind Newbridge Square has incorporated this into its DNA.
“FIREM’s 1 Newbridge Square, has been thoughtfully designed with a user-centred approach in mind and this development has kicked on the regeneration of Swindon’s business district. With a full focus on wellness, ESG and a future-proof vision we are confident that the Newbridge Square community will continue to grow in 2024.”
