July 8, 2019
Demand for flexible office space in Paris is almost double the global average, according to a report by Instant Offices. With demand for office space on the rise in Paris, serviced offices have seen a 26 percent increase while hybrid space has seen a 23 percent increase. While the city ranks fourth globally by the size of supply, Paris is considered to be one of the largest flexible office markets in Europe and ranks among the top 10 best start-up cities in the world. Alongside New York, San Francisco and London, Paris also remains one of the most expensive places to rent a desk. Despite this, demand in the city is on the rise as more large businesses choose flexible offices over conventional leases. more…
June 21, 2019
HSBC has agreed a deal to locate more than a thousand members of London staff in a WeWork coworking space in London. WeWork confirmed to the Financial Times that the bank has signed up for 1,135 desks at its new building at 2 Southbank Place. The move is further proof of how coworking has become a mainstream option for large corporations as they seek to get more value our of their property and introduce new working methods. HSBC’s corporate real estate team and other staff already work from coworking spaces, but the new deal marks a step change in its strategy.
Image: WeWork’s existing coworking space at Waterloo
June 18, 2019
The flexible office and coworking markets have grown rapidly over the last five years, with more than 4 million sq ft leased to flexible office providers in Central London, according to a new report from digital office broker Hubble in partnership with JLL. Despite WeWork dominating the headlines and pioneering the uptake of coworking, the London market remains highly fragmented, with more than 150 providers offering some form of flex or coworking space in more than 650 separate locations. Flexible offices are projected to grow to a 11 percent share of overall office stock in London by 2023. At the end of 2018, flexible offices had a 6.3 percent share of the Central London market (14.7 million sq. ft.) and this number is set to keep growing. more…
June 10, 2019
In his book How Buildings Learn, the author Stewart Brand outlines the process whereby buildings evolve over time to meet the changing needs of their occupants. He describes each building as consisting of six layers, each of which functions on a different timescale. These range from the site itself which has a life cycle measured in centuries, through to the building (decades), interior fit out (years), technology (months), to stuff (days). The effectiveness of a design will depend on how well it resolves the tensions that exist between these layers of the building, and this is one of the benefits of coworking that isn’t discussed enough.
June 3, 2019
When attending last year’s CoreNet Global Summit in Boston, there was a poll of the real estate executives gathered to discuss the key trends affecting the world of commercial property. During the event we were asked about our attitudes to coworking by the event organisers and Cushman & Wakefield. What emerged was a portrait of genuine revolution in real estate thinking. The number of employees from the respondents’ organisations using coworking space had doubled in the previous two years and now stood at around 11 percent of all employees. more…
May 31, 2019
Over recent years, we have witnessed significant changes when it comes to the workplace. Women are continuing to push through the glass ceiling, offices are starting to look more likes homes and businesses are opting for a more flexible and sociable working environment. This rise in coworking and other forms of flexible office space is just one of the latest trends to emerge from the corporate world, and according to a report by office brokers Office Freedom, London is at the forefront of this growing market. more…
April 3, 2019
The idea of coworking is starting to resonate with a growing number of businesses and for a growing number of reasons. People new to the concept, or those who are aware primarily of its roots, may discover or retain a notion that it is a way for start-ups and freelancers to share space as a way of keeping down costs or networking with similar organisations. There is still a great deal of truth in this, given that the initial growth of coworking was based almost exclusively on the need for small tech and creative organisations to occupy space near to their larger clients, in precisely those urban enclaves that demand eye-watering rents and conventional leases.
April 3, 2019
London, Paris and Stockholm are among the major cities featured in a new research report from Cushman & Wakefield (registration) into the coworking and flexible office sectors, which pinpoints future demand and the next likely growth hotspots across Europe. According to the report, coworking’s rapid expansion in recent years has quickly disrupted global office markets. The report charts the current state of the sector, the emergence of flexible working space across continental Europe and where future growth will occur. more…
March 28, 2019
A recent survey by Gartner predicts that one in five workers will have an AI bot as their co-worker by 2022. It’s almost impossible to talk about the future of the workplace without mention of AI or robotics, and is therefore hardly surprising that there is a feeling of apprehension amongst workers. PwC’s 21st global CEO Survey in 2018 revealed that between 23 percent and 51 percent of respondents were “extremely concerned” about the speed of technological change, and indicated “anxiety about the impending promise and perils of AI.”
February 27, 2019
Corporations are this year set to become the driving force within the flexible workspace industry as the way they view their office portfolios continues to change, according to research by Instant Offices. The flexible workspace sector has ridden the crest of a wave for the past five years with global demand increasing by 50 percent and more market supply of flex space than ever before. Instant now estimates the global market to incorporate 32,000+ centres, which represents 521 m sq. ft. This is an increase of 15 percent year on year since 2013.
February 25, 2019
There is a boom in the number of new flexible working locations opening in Central London, which has seen a growth of 42 percent year-on-year. According to the new report by Office Freedom this growth is driving ever more competitive rates and lowering the cost of all kinds of office spaces within the capital. Over the last two years, office prices in Hammersmith have fallen by 29 percent, whilst Paddington is 32 percent cheaper as a direct result of greater flexible space availability. The rates in prestigious Knightsbridge are still amongst the highest in Central London, but have dropped by 38 percent between 2014 and 2018. more…
January 23, 2019
Landsec has launched its new flexible office brand, Myo, which it claims will provide customised office space for businesses looking for flexibility to enable future growth from April of this year. Coworking in other words. The move is the latest example of a major commercial property firm entering the market for flexible offices and coworking space in the wake of its recent boom. Myo will operate as a standalone brand, offers flexible leases ranging from 12 months to three years for businesses that need space for between 15 and 80 people.
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