Birmingham, London and Manchester led the UK with the highest percentage of flexible office take up, showing the sector is fit for the future.
The European Office Outlook 2020 report by Savills revealed Birmingham boasted the most flexible office space take up as a percentage of the city’s total in 2019 to Q3 with 34%. London City followed with 26%, and Manchester is fifth out of European cities with 20%.
As the office sector is changing and modernising, the UK is adapting to these changes and evolving. Across European cities, especially in tech cities, there is an increasing demand for flexible office space.
The report by Savills stated: “Flexible offices will continue to grow as ‘space-as-a-service’ becomes more mainstream across European markets and we expect to exceed 13% of total office demand in 2020. Those cities with higher tech occupier bases should see the strongest increases in flex space demand as startups seeks space on a per-desk basis.”
Modern workspaces
Flexible co-working spaces are becoming an important part of the modern office sector. These types of offices typically include amenities such as break-out areas and free bars. Boasting a unique collaborative community, co-working spaces often attract freelancers and businesses in a wide range of sectors under the same roof.
Many might assume flexible offices are mainly used by startups and small businesses, but large corporates, such as HSBC, Apple and Facebook are using these types of offices too. This is leading to flexible office providers increasing the size of the developments to accommodate larger desk number requirements.
UK tech cities and regions
As the top tech cities in the UK, London and Manchester are expected to see an increase in flexible co-working spaces as many tech businesses are demanding more than only office space. Many are looking for features and local amenities to help foster innovation and creativity, in addition to improve the working lifestyle of employees.
Flexible office space is likely to become even more popular as the dynamics of the modern workplace continue to adapt and change. As the north of England and the Midlands are home to budding tech scenes, more businesses are likely to move and open their doors in these regions. And many are likely to be interested in flexible workspace, showing there is more room for growth in this sector.
It’s not just the way people work that is changing, but the way people live. Read this article to find out more about why property investment is still a wise option in today’s market.
