The flexible office industry was increasing at a rapid pace before COVID-19 hit earlier in the year, but despite growth slowing during the first half of 2020, the UK’s top markets have still seen a 4% growth rate.
In our latest flexible workspace report, The Changing Face of an Industry, our research shows that occupancy rates remained stable throughout the global lockdown for 30% of providers, with suburban locations in the UK seeing 100% growth. We are now seeing a sharp rise in demand for flexible commercial office space in smaller regional markets compared to city centres. Areas like Bishop’s Stortford, Walton-on-Thames, Almondsbury and Rickmansworth are in high-demand as small companies look for office space with 1-2 desks.
John Duckworth – Managing Director UK & EMEA, The Instant Group, says: “Covid-19 has forced companies to re-evaluate their office portfolios with many now looking for short to medium-term reduction in portfolio cost, diversity of location and a more agile workplace. With costs more important more than ever before, the flex market and the commercial real estate market as a whole has an interesting few years ahead.”
Our latest report analyses supply and diversity of location, average desk rates across the country, and considers predictions for the market in 2021. Download The Changing Face of an Industry now to find out more.
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