How The Flexible Office Space Market Has Adapted Post Covid.

Friday 08 October 2021

The traditional Serviced Office market has always offered flexible working solutions for businesses requiring a space without the constraints of a traditional lease.  The sector made up for about 5% of all office CRE solutions for many years.  This trend is about to explode with experts predicting the flexible market could exceed 20%+ of all office space in just a few years.

For businesses today, the 'New normal' has changed the way office space is consumed.  Technology has proven home working can be very efficient, flexible working can enable cost reduction, increase employee satisfaction and contribute to a rapid economic recovery.  

The CRE challenges facing businesses today

 

So what are the new types of office options:

1. Desk Hire Schemes, such as NearU a Search, book and work app.  The app allows individuals to make their own payment for each booking, or if they have a business account then all transactions can be assigned to a profile, resulting in one simple monthly invoice.  Desk pricing starts at as little as £10 a day, but the average is about £25-£30.  The key difference is you can now access 100's of diverse workplaces across the UK, when you want!

2. Co-Working Desk Memberships, arguably look no further than WeWork All-Access if you simply want the biggest range of centres, great spaces to work from and even free beers.  Get in touch for a Limited time 3 month offer.

3. Part-Time Office Hire for 1 or 2 days per week.  Not an easy to solution to find but a select range of brands are now offering this.  Office Space in Town (OSiT), offer a product called Adjust.  Adjust allows a company to book the same office for up to 10 people for just £250per person per day.  You can discover this solution at their New Broad Street location, Monument and Waterloo. 

4. Traditional Flexible Office Solutions (Flex), put simply there are 1000's of options, catering for all types of  requirements, shapes and sizes on terms from 3-36months.  Pricing in the capital starts from around £400per desk, for an all-inclusive private offices.  Get in touch to or start searching now!

5. Managed Offices, unlike a traditional 'Flex offices', Managed Offices are essentially tailored workspace solutions procured and managed by a single supplier from start to finish.  This will appeal to organisations looking for more privacy, bigger spaces but flexible terms of 12-48m>.  Often there is access to shared facilities like shared meeting rooms and a variety of onsite amenities to enhance staff wellbeing.  Managed office providers often partner with landlords to unlock traditionally leased spaces specifically for the flex consumer.  

Traditional landlords are trying to adjust to these changes, but it will take time for them to really adapt to deliver a truely flexible and hospitality based product. 

 

Whatever the direction your business takes post pandemic, top of the agenda in 2021 has been employee Wellbeing, Flexible/Home Working policies, adopting Hybrid Office options, Sustainability/Carbon Footprint and OPCO/Cost control.   Location, Price, Size, Density and Time are no longer the big driving factors for office space.

If you're unsure about which solution will best suit your business, speak to one of our search specialist and discover how! 

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