NewsCase StudiesEvents

Demand For Flexible Working Solutions Continue To Rise

Also in the news...

UK signals West African expansion at Africa Investment Conference

Support package worth over £500 million from the UK government unlocks new markets for exporters in the high-growth region

Trade with Japan

How you import from and export to Japan. 

New Year Company Setup Specials from Charterhouse Lombard

Looking for a new start this year? At Charterhouse Lombard we put together the best offers from free zones around the country to find the right match for you.

Trade advisory groups (TAGs)

The groups were established in July 2020 to meet the requirements of the Department for International Trade’s (DIT) trade negotiations.

Customs Declaration Service: service availability and issues

Check the availability and any issues affecting the Customs Declaration Services.

Demand For Flexible Working Solutions Continue To Rise

Back to News

Interest in co-working spaces has almost doubled over the past five years,

with flexible workspace now accounting for 7% of total office space in the UK, according to a new report by Instant Offices.

As focus shifts from a ‘business first’ mentality to creating the perfect work-life balance, the UK Flexible Workspace report from Instant Offices investigates the popularity of flexible working and co-working solutions ahead and where this growing trend will go in the future.

No longer primarily for startups, freelancers or businesses with a lower headcount, the flexible office market, or ‘co-working space’ continues to grow outside of the core city as the industry becomes normalised in the sector, with the focus being more north of the river, in traditionally higher value areas.

Focus Shifts Away from London As Companies Prioritise Secondary Cities

Although London has previously been the primary focus for co-working space companies, there has been a heavy shift in attention to cities such as Edinburgh, Cambridge and Birmingham, who have all seen an increase in emphasis as demand continues to grow.

Areas with the Highest Supply Growth (2017 vs 2019)

Aberdeen

34%

London

33%

Cardiff

32%

Derby

25%

Leicester

25%

Manchester

24%

Birmingham

21%

Leeds

21%

Glasgow

20%

Nottingham

20%

 

Despite areas with the highest supply growth being considered primary cities, as they are the UK’s largest cities, the areas with the highest demand growth can be regarded as secondary cities, often acting as suburban commuting hubs for major cities.

Areas with the Highest Demand Growth (2017 vs 2019)

Harrow

433%

Bromley

230%

Luton

146%

Milton Keynes

144%

Cardiff

136%

Derby

106%

Nottingham

93%

Middlesbrough

84%

Glasgow

81%

Leeds

60%

 

Key Elements of Flexible Space

· Flexible term

· Fixed payments

· All-inclusive rent including services

· Easy to use contract

· Short move-in cycle (lead time)

The Future of Flexible Working and Co-Working

Brexit uncertainty has left businesses unsure about how to proceed. Research from Instant Offices reveals 70% of small companies have no strategic plan for Brexit while on a fifth have a positive attitude towards Britain leaving the EU. Nonetheless, the demand for flexible working and co-working spaces has steadily increased over the last five years and continues to rise. Over the previous six months, the flex space market has grown 7%, now amounting to more than 85 million square feet of the UK office market.

John Williams, CMO at The Instant Group says,

“It has been a remarkable year for flex space. In line with our predictions from 2018’s report, we are seeing proliferation of choice, with client demand forcing operators and landlords to aggressively evolve their models to differentiate and specialise. Now that commercial real estate as a whole has started to wake up to the needs of the end user, the sector will have to become smarter at finding and using big sets of data to assess in detail where this demand is coming from and how it is going to change over time.”

For information on other regions around the world, as well as the full report, please visit here.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.