Issue date: 14 August 2000

Contact:
Amanda Fisher, citib@se 020 7808 7444
Alex Kane, Spada 020 7269 1430

New Economy Firms Turn to Alternative Property Solution

UK top five business centre operator citib@se plc, today released statistics which demonstrate that IT is the growth industry for small businesses in the majority of the country. The statistics are based on occupancy levels across the citib@se nationwide network of serviced offices.

citib@se centres across the country have seen the proportion of their offices occupied by IT firms jump dramatically. In Newcastle and Leeds the figure has roughly quadrupled since December 1999. In Kenilworth and Bristol the figure has approximately doubled.

No other sector identified in the survey has seen such dramatic growth. Ian Read, director of citib@se commented "These statistics show that the boom in the IT sector shows no sign of abating. It also seems clear that new economy firms have needs that are not currently being addressed by traditional property solutions. These types of firms need to be able to set up quickly and if necessary expand or move out within short periods of time. The flexible, short leases offered by serviced offices are exactly what they need."

Last year, citib@se statistics indicated the South of the country was the prime focus for the IT industry. This year, however, Newcastle and Leeds have shown the biggest increases indicating that the IT industry is as vibrant in the North of England as the South.

For full details of the citib@se statistics please contact Alex Kane.

The statistics are as follows:

citib@se centre	Percentage of office used by IT firms 1999	Percentage of office used by IT firms 2000
Newcastle	4	18
Leeds	4	15
Kenilworth	12	29
Aztec West	17	33
Cambridge	41	47
Victoria	22	24
Bewdley	43	42
Leicester	12	9
Edinburgh	13	10
Manchester	11	6
Birmingham	8	3

 

Notes for Editors
For further information, please contact:
Amanda Fisher (corporate) citib@se plc 120 Wilton Road London SW1V 1JZ Tel: 020 7808 7444 Fax: 020 7808 7028		Alex Kane (press) Lion House 72-75 Red Lion Street London WC1R 4NA Tel: 020 7269 1430 Fax: 020 7269 1440
Editors’ Notes • citib@se manages a fast-growing, national network of business centres. It operates centres nationwide in Birmingham, London, Manchester, Newcastle, Leeds, Leicester, Bewdley, Cambridge, Edinburgh, Bristol, and Kenilworth. • citib@se operates business centres with five-star service and state-of-the-art telecommunications technology. The offices provide an environment that previously had only been available to large, well-established companies. Should you require any further information please contact: Lisa Watson citib@se plc Vigilant House 120 Wilton Road London SW1V 1JZ Tel: 020 7808 7006 Fax: 020 7808 7028 Email: lisawatson@citibase.co.uk