A quarter of corporate global workforce could inhabit coworking space within five years

A quarter of corporate global workforce could inhabit coworking space within five years

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Over the next five years, corporate real estate professionals are set to dramatically increase their use of coworking spaces to house employees, according to a survey conducted at the CoreNet Global Summit in Boston. According to the results, the percentage of employees at respondents’ companies utilising coworking spaces such as that offered by WeWork (pictured) has doubled over the past two years. The survey was conducted by Cushman & Wakefield and CoreNet Global during the course of the three-day summit and was completed by more than 220 corporate real estate executives and industry service  providers.

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London office demand bolstered by tech media, financial and serviced sectors

London office demand bolstered by tech media, financial and serviced sectors

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One Creechurch Place Serviced offices dominated office take-up in London’s West End in August, mainly due to three big transactions resulting in a 44 percent market share, but the Tech and media sector continues to be the main driver for space. According to figures from Savills just shy of a third (31 percent) of take-up for office space this year has been to Tech and media sector occupiers. Similarly, West End and Central London requirements almost mirror demand from this sector, with the Tech and media sector accounting for 35 percent of the 4.3m sq ft of active requirements.

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You should not expect the coworking bubble to burst anytime soon

You should not expect the coworking bubble to burst anytime soon

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Coworking is not the norm yet, but it is headed that direction. In fact, a sign of its success is the fact that it has moved from being labelled a fad to asking if it is a bubble about to burst. Here’s a short answer: it is not going to go pop, fizzle out or run out of steam anytime soon. Why would it? Coworking is not something driven by real estate and developers. It reflects how our society is changing.

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Quality coffee tops the list as the most important office feature

Quality coffee tops the list as the most important office feature

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Quality coffee tops the list for the most important office featureThe quality of the coffee is the most important feature for office occupants, with two thirds of workers saying a decent flat white or cappuccino is an essential for a productive and engaged workforce.  Research by coworking developer Areaworks also found that being closer to the outdoors, and the ability to work from a balcony or roof terrace was an important factor for 64 percent. Hanging chairs, bean bags and flexible spaces are a must for most, as half of office workers want to ditch fixed desks in favour of casual seating and hot desking, making it a top five most favoured feature. the office gimmicks failed to feature on most people’s workplace bucket list. The installation of office gimmicks such as fireman’s poles and ball pits all failed to feature on most people’s workplace list, but slides did make the list, while the majority (66 percent) included a fridge complete with beer and prosecco among their choice items.

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Prague best city in the world for remote working, but Johannesburg has cheapest coffee

Prague best city in the world for remote working, but Johannesburg has cheapest coffee

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New research has revealed the top 15 cities worldwide that are best for remote working and Prague is on top, with London ranked as the 5th best city in the world for remote workers. Inspired by the top 15 cities listed in InterNation’s Expat City Ranking Report, Powwownow analysed the cost of living, average monthly salary, internet speed, price of coffee, and cost of public transport in different places across the world. Cities were individually scored on each factor and ranked by the total number of points, to calculate the top 15 cities around the world. Calculating an overall ranking for each city, Prague was revealed to be the best city worldwide for remote workers. More →

Challenging some of the most commonly held misconceptions about coworking

Challenging some of the most commonly held misconceptions about coworking

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There are a number of misconceptions that dominate much of the writing around flexible workspace, despite all the press coverage and discussion around coworking over the last two years. Yet even in this comparatively short space of time, a number of misconceptions about the market have managed to take hold. Some of them are intuitive but wrong to some or other degree. Some are distorted by coverage. Some arise for other reasons. And we know this thanks to the extensive data gathered in Instant’s latest market report. So here in this piece, I am going to try to shatter some of the myths around flex workspace and coworking in particular.

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Avenue HQ is named as Coworking Space of the Year by IPSE

Avenue HQ is named as Coworking Space of the Year by IPSE

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Liverpool’s Avenue HQ has been crowned ‘National Co-Working Space of the Year’ by The Association of Independent Professionals and the Self-Employed (IPSE). The award claims to ‘recognise and celebrate the important role coworking spaces play in creating a nurturing, inclusive and stimulating environment for the UK’s 4.8 million-strong self-employed workforce’. The coworking industry is booming globally as companies of all sizes recognise the importance of working environment on employee and business performance. Pioneered by start-ups, entrepreneurs and freelancers, a growing number of companies, large and small, are incorporating the concept and rapidly reaping the benefits.

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Over half of employees say remote working and coworking increase their productivity

Over half of employees say remote working and coworking increase their productivity

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coworkingMore than half of US based employees (54 percent) with the chance to work remotely say they are most productive when they work outside a traditional office environment, such as at home, in a coffee shop, or in a coworking space, according to a new survey by research firm Clutch. Over two-thirds (68 percent) of workers surveyed work in a traditional office. However, higher productivity isn’t the only reason employees prefer other workspace options. Over a quarter (26 percent) of employees who have some degree of flexibility say a better work-life balance is the top benefit of working outside the office. Other benefits include flexible work hours (21 percent) and fewer distractions (18 percent).

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Gallery: WeWork announces the opening of its flagship location in India

Gallery: WeWork announces the opening of its flagship location in India

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WeWork has announced its first flagship Indian location in Bengaluru. WeWork Galaxy is located on the site of the former Galaxy Theatre, and features a rooftop terrace with a pool and gym in addition to a mix of shared and private offices, which are designed around a 5-storey communal atrium. Bengaluru is India’s tech capital and one of the country’s leading cultural and economic hubs and so WeWork see it as a perfect fit for their coworking model. Created by the in-house design team, the goal was to create a space that ‘felt open, yet communal and intimate for members and guests, by creating individual programming and design moments within the atrium space’.

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Rising demand for Grade A office space helps sustain Edinburgh commercial property market

Rising demand for Grade A office space helps sustain Edinburgh commercial property market

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State Street Bank at Quartermile 3 EdinburghTechnology, media, and telecommunications (TMT) companies are continuing to play a prominent role within Edinburgh’s office market, accounting for approximately 30 percent of transactions in the city. But rising demand for Grade A office space in Edinburgh by a variety of organisations, including coworking,  private and public sector tenants has fuelled significant occupier demand during the first quarter of 2018, according to analysis by property consultancy, Knight Frank. The latest commercial property figures show approximately 460,000 sq. ft. of new occupier requirements came onto the market in the first three months of the year from companies looking to lease office space in Edinburgh. More →

Agile working driving structural change in New Zealand commercial property

Agile working driving structural change in New Zealand commercial property

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Technological developments and agile working methodologies are driving significant, structural changes in the requirements for commercial property in New Zealand, according to new research from CBRE. One of these structural shifts is the rise in agile working, which has profound implications for the way office space is used. Unassigned seating is just one aspect of a truly agile business. Activity based working, third party space, coworking and flexibility around the way office space is used and leased are other real estate parts of a wider transformation into an agile organisation.

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Flexible working and the rise of coworking reducing demand for London office space

Flexible working and the rise of coworking reducing demand for London office space

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The number of new office buildings constructed since the financial crisis in 2008 has fallen in a year on year comparison by 56 percent, according to an analysis of planning applications carried out by property lending platform Lendy. The authors claim that the primary reason for the sharp decrease has been the greater uptake of flexible working and coworking models of space use. According to the study, only 2,300 applications to build new office buildings were approved last year, down from 5,200 in 2007/8. Lendy adds that applications to build new offices have also fallen since the financial crisis – down 58 percent to 2,500 last year from 6,000 in 2007/08.  Flexible working has reduced the requirement for new office buildings. Other innovations, such as shared workspace and coworking, have reduced the need for employees to have their own dedicated workspace, according to the report.

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