Search Results for: coworking

February 8, 2017

Take up of flexible space confirms London’s status as a global coworking pioneer ⁰

by Mark Eltringham • Flexible working, News, Property

The ‘gig economy’ continues to drive London’s thriving flexible workplace sector which accounted for 8.8 percent of total office take-up in 2016, according to a new study from Cushman & Wakefield. The report claims that the pace of development will continue for the foreseeable future, not least because of the number of corporate occupiers taking on coworking space. Flexible office space accounted for more than 4.5m sq ft of take up in London over the past five years as the capital has cemented its place as the leading global market for coworking, according to the research. In 2016, flexible office take-up amounted to 842,888 sq ft across Central London, representing 8.8 percent of total take-up – slightly above the five-year average of 8.4 percent.

October 22, 2016

Uberification of work + Future of coworking + Quest for productivity ⁰

by Sara Bean • Facilities management, Flexible working, Newsletter, Property, Technology, Wellbeing, Workplace

In this week’s Newsletter; Anthony Brown argues Uber’s success lends a name for a process that is reshaping the commercial property sector; Mike James wonders where the gig economy and zero hours contracts are taking us; and Mark Eltringham discusses the interaction of people and technology. Two new reports highlight the growth of the freelance workforce in the UK and US; researchers analyse the impact of coworking from a corporate real estate (CRE) perspective; Barclays presents its vision of the workforce of the future; and Herman Miller unveils a new Aeron chair. The latest stage of the UK’s BIM Task Group programme is officially launched; responses to a government enquiry reveal the barriers the built environment still presents to disabled people; and a combination of financial, mental and physical health problems affect many workers. Download our new Briefing, produced in partnership with Boss Design on the link between culture and workplace strategy and design; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

October 18, 2016

New CoreNet Global / HOK report explores impact of coworking on corporate real estate ⁰

by Mark Eltringham • Coworking, Flexible working, News

The UK Chapter of CoreNet Global, in partnership with HOK’s WorkPlace practice, has released a new report that studies the impact of coworking from a corporate real estate (CRE) perspective. With coworking now one of the fastest-growing sectors of the commercial real estate market, the new report, Coworking: A Corporate Real Estate Perspective, examines the drivers of coworking from the demand and supply side, the industry risks and implications for corporate real estate, as well as information about the owners, coworkers and centres. The CoreNet Global / HOK Coworking report highlights the ideas that changing business priorities and the need to attract talented people, reduce real estate costs, improve speed to innovation and increase productivity are driving corporations to consider different workplace models, including on- and off-site coworking.

September 26, 2016

HSBC moves 300 staff into coworking space in Hong Kong ⁰

by Mark Eltringham • Coworking, Flexible working, News, Property

The idea that coworking is primarily for the self-employed, tech startups and other small firms who can’t afford permanent offices in the world’s expensive cities has been challenged with the news HSBC has moved 300 staff into a coworking space in Hong Kong, according to a report in the South China Morning Post. The bank has rented the workstations in WeWork’s space in Causeway Bay, one of the world’s most expensive districts for offices and shops. The bank has taken out a large scale corporate membership with WeWork for the 300 members of its digital and transformation team. According to the report, a spokesman from CBRE claimed that the move is less about saving money than it is with providing short term flexibility in a time of economic uncertainty. However you view that, the bank is saving as much as HK$2.45 million a month with the move (£240,000 or $320,000). The annual cost savings are estimated at HK$23,640 per person.

September 19, 2016

London’s sky high property costs driving uptake of coworking, claims report ⁰

by Mark Eltringham • Cities, Flexible working, News, Property

Start-up tech firms in London face the world’s highest property costs and the result is a boom in coworking, according to a report from Knight Frank. The research, undertaken as part of Knight Frank’s 2017 Global Cities Report, examines the cost of leasing and fitting-out 600 sq ft of office space in the tech and creative districts of the world’s leading cities. Intense demand for space in Shoreditch, London, has seen start-up office costs soar with Knight Frank calculating 600 sq ft of office space to cost US$66,706 per year – the highest of any creative district in the world. This is followed by Brooklyn in New York (US$62,736), Mid-Market in San Francisco (US$61,680), 1st, 2nd and 9th Districts in Paris (US$57,426) and the Seaport District in Boston (US$50,700). However, London’s burgeoning coworking market also shows how firms are using the model to overcome the challenge of finding somewhere to work at an appropriate cost.

June 18, 2016

Productive workplaces + Long hours link to ill health + Coworking rise ⁰

by Sara Bean • Cities, Comment, Environment, Facilities management, Flexible working, Furniture, Newsletter, Technology, Wellbeing, Workplace

In this week’s Newsletter; Mark Eltringham says we must question the idea that there is one ideal form of office; and argues events such as Clerkenwell Design Week wouldn’t function unless there was some consensus on what constitutes good and bad design. The supply of flexible workspace in London outstrips conventional office space; emerging technologies will create more organic workspace; and employees thrive in a workplace that is sensitive to their needs and well-being. Women who work long hours could be damaging their health; the UK remains in the grip of a digital skills crisis; people welcome the idea of robot help and the IEA says cities can contribute to a cut in carbon emissions. You can download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

June 4, 2016

Robot woes + Coworking goes mainstream + Workplace sit-stand debate ⁰

by Sara Bean • Facilities management, Flexible working, Newsletter, Property, Technology, Wellbeing, Workplace

In this week’s Newsletter; Sara Bean suggests improvements in work-based training could help address the productivity gap; Mark Eltringham says there will be no grand arrival for the ‘Office of the Future’; and warns of the lack of context when reporting research on sit-stand working. Better technology would improve workers quality of life, finds a new report; researchers say workaholism is closely associated with a range of mental diseases and psychiatric disorders; and a surprisingly large number of people fear their job being taken by a robot within the next 10 to 50 years. Banks are rationalising space to stay in London; coworking remains one of the main drivers of workplace change globally; and uncertainty about Brexit hits the construction sector. You can download our Insight Briefing, produced in partnership with Connection, on the boundless office; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

June 1, 2016

Coworking continuing to drive workplace change around the world ⁰

by Mark Eltringham • Knowledge, News, Property, Workplace design

Coworking continues to be one of the main drivers of workplace change globally and is now becoming mainstream, according to new research from serviced office provider The Instant Group. According to the firm’s Flexible Workspace Review – US 2016 report, coworking grew more than 10 percent across the US over the last year and ‘combination centres’ which offer both executive suites and coworking spaces expanded by 12.9 percent as existing operators sought to take advantage of the growing demand for collaborative and agile workspace. The study claims that the occupation of flexible workspace by corporations has significantly expanded the US flexible office market over the past year, largely driven by the rise of the contingent workforce and changing workplace demands of Millennials. The total market grew by 4.3 percent and now includes 3,596 centres, the largest markets of its kind in the world with the UK following at 3,290 centres.

March 24, 2016

Coworking spaces not just suited to start-ups with Millennial occupants ⁰

by Sara Bean • Facilities management, Flexible working, News, Property, Workplace design

The rise in popularity of coworking spaces has been largely attributed to growing demand from creative and tech start-ups for shared workplaces that are cost-effective alternatives to traditional office leases. But there’s new evidence from the US that coworking spaces could also be eminently suitable even for larger occupiers, and especially in costly metro areas such as New York, San Francisco, Los Angeles and Boston. According to a new report from CBRE Group a number of misconceptions that have perhaps kept larger occupiers away from extensive use of coworking facilities do remain, including that this type of space is priced at a premium compared with traditional leases; that it is only utilized by entrepreneurs and small businesses; and that the users are exclusively post-college millennials. Yet CBRE’s report found that these assumptions are not accurate.

February 11, 2016

Majority of UK’s small businesses would opt for coworking spaces ⁰

by Sara Bean • Flexible working, News, Property, Workplace design

Almost three quarters (72 percent) of small businesses in the UK believe coworking spaces are the ideal environment to base a start-up. Although the research was carried out by Regus, which happens to provide just that sort of workspace, the research did detect some strong preferences from small businesses that suggests sharing office space is the best solution for fledgling firms to thrive. When asked about the benefits of coworking compared to other workspace options, more than eight in ten respondents (83%) from the research, which canvassed the opinions of over 2,600 UK-based small companies, claimed it was a much more cost-effective alternative to a fixed office. The opportunity to meet other entrepreneurs (70 percent) was also identified as a major plus point, with 63 percent believing that shared space provides more inspiration than a traditional office setting and 61 percent saying that this kind of workplace offered a more creative environment that regular offices.

January 30, 2016

Coworking goes mainstream + Sit stand working + Future for tech offices ⁰

by Sara Bean • Facilities management, Flexible working, Newsletter, Property, Wellbeing, Workplace, Workplace design

In this week’s Insight newsletter; Mark Eltringham analyses the impact of the sit-stand movement and suggests that the I-phone is a very isolating piece of equipment; Georgi Georgiev says remote work is no longer just a freelancer’s game; and Paul Goodchild explains why co-working is shaping office design more than you’d imagine. A new report outlines the key future property trends for TMT workplaces; parents are at greater risk of burn out as they strive for work life balance; fewer than one in ten (8 percent) of UK organisations currently have a standalone wellbeing strategy; the positive benefits of active work are revealed and the UK’s CEO’s worries about cyber-risks. Download the latest issue of Work&Place and access an Insight Briefing produced in partnership with Connection, which looks at agile working in the public sector. Visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

October 13, 2015

Small business demand for coworking space ‘set to soar’ in the UK ⁰

by Neil Franklin • Facilities management, News, Property

New research from the UK solicitors network QualitySolicitors claims that demand for flexible coworking space is set to soar, with 71 percent of SMEs predicting this to be a priority for them in the short and medium term. According to the study of 250 small business decision makers, over two fifths (42 percent) believe that having a flexible and adaptable space where they can grow is ‘more important’, almost a fifth (18 percent) say it’s important to be able to interact and collaborate on ideas with other businesses in their premises and a further 39 percent are looking for a workspace with networking opportunities. It’s not just the space that needs to be flexible however; over half (54 percent) claim they want flexible, short term lets when negotiating their lease and 53 percent would demand a break clause to prevent them from being tied down if the space is no longer practical for their business.