Increased activity in Central Belt boosts Space Solutions
Aberdeen, Edinburgh, Glasgow, 21st September 2016 – Space Solutions, the property and office design specialist and consultancy, has experienced a sharp increase in activity in the Central Belt in 2016 that has balanced out market pressures in Aberdeen and the North East in relation to the oil and gas sector.
Space has doubled revenues over a two-year period across its Edinburgh and Glasgow offices and is eyeing further growth across Scotland and the UK during 2017.
Overall, Space recorded group-wide revenues of £36 million in the year to 30th June 2016 against £36 million in the previous year and is forecasting similar revenues (c. £36-37 million) in the current financial year. Despite significant challenges in the marketplace in recent times – running from the recessionary and post-recessionary period following the financial crisis of 2007/08 to the current travails in the North East market – the senior management team is encouraged by the fact that Space has managed to keep revenues steady and that investment in the business has positioned the group for growth in the near to medium term.
Managing Director, Steve Judge, said: “While we have seen more traditional demand in uptake of space, particularly pronounced in Edinburgh and Glasgow with record levels of uptake in those cities, the vast majority of our public sector and commercial activity in the North East has been centred around optimising the use of space and thereby reducing the cost of occupancy – that’s obviously attractive to organisations as relative cost per person is reduced.”
Space Solutions employs 230 people across its main offices in Aberdeen, Edinburgh, Glasgow, Livingston and Dundee.