More than 95% of London’s flex operators are planning to expand as average attendance in London reaches four days a week.
Nearly half are targeting growth in the West End, while one-third are looking at the City, according to a survey by Knight Frank of flex providers in the capital, including GPE, British Land and Fora.
Amanda Lim, head of flexible offices at Knight Frank, said: “Premium spaces in the best locations have witnessed strong demand, given that scarce availability within new prime buildings across the City and West End have complicated matters for companies looking to secure traditional long-term leases.”
The research found 92% had already expanded this year amid strong office attendance, with three-quarters reporting average attendance of four or more days a week.
The survey also found companies of all sizes were taking on flex space, with 75% of operators and landlords reporting larger corporates leasing more space compared to the previous year.
Amanda Lim, head of flexible offices at Knight Frank, said: “It is becoming the norm for companies requiring less than 10,000 sq ft to select a flexible workspace, given they can set up swiftly in a modern building with a mix of amenities and pay just one monthly bill. The opportunity to also bypass various legal, IT, furnishing and fit-out costs means that larger corporates are increasingly incorporating flexible offices when outgrowing existing workspaces.”
Image © Fora
Send feedback to Dominic Plaskota
Follow Estates Gazette
