Juliette Morgan, International Partner and Head of Cushman & Wakefield’s Global Tech Group, said: “The latest figures confirm London’s preeminent position as a leader in flexible or co-working space. The boom over the past five years has been fueled by the “Gig economy”, as well as a thriving technology sector which means traditional working patterns have changed irrevocably.”

Central London Flexible Office Take-up 2012-2016

Year Flexible office take up Flexible offices as
% of tota­­l take-up
2012 501,629 7.0%
2013 684,065 6.1%
2014 1,267,926 10.2%
2015 1,238,064 10.1%
2016 842,888 8.8%
10 year annual average (2007-2016) 605,490 5.5%
5 year annual average take-up (2012-2016) 906,914 8.4%

(Source: Cushman & Wakefield)

 

John Ellis, CEO of Workspace Commerce, a global leader in providing co-working spaces mentions, “Larger companies begin to see the benefits of renting out their spare buildings, offices and desks to some of London’s entrepreneurs, startups and micro-businesses.  In doing so, they are opening up a valuable source of previously untapped revenue and the resulting influx of talent serves as a resource for larger companies that benefit from the new energy and ideas that startups bring on site”

Conversely, Workspace Commerce has also seen a rise in city clients buying co-working membership packages.  Panny Lawrence, International Sales Director for the company adds: “To ensure presence and maximize audience reach, we have initiated discussions for partnerships with reputable online listings/website such as OFIXU, a company that aims to be the “Airbnb for workspaces” and build the world’s largest online workspace marketplace. The company enables to list ALL office types for an individual or company meeting all office needs in any location, globally and allows its users to book any commercial space on one convenient platform for a single day, week, month or year!”

Elaine Rossall, Head of London Markets Research for Cushman & Wakefield, also informs: “London’s co-working market – already the largest in the world – is only going to get bigger and expand more rapidly in response to workplace trends. The market will become increasingly competitive as it becomes further established and providers will need a strong brand and points of differentiation, if they are to continue to attract the necessary levels of tenants through the doors.   Savvy investors will also be looking for the best opportunities to invest in the co-working sector outside the capital, where regional growth is fast catching up both in terms of supply and demand. With London as the official capital of the co-working movement, this boom is set to continue in the UK for years to come.”

Workspace Commerce, a UK company offering co-working facilities in London and other international CBDs, has launched its’ “The Hale” building in Haringey.   Haringey is a London borough that stands out in the 2017 business map – Growing population, amazing connectivity, proximity to all major airports plus high-growth areas such as Finsbury Park and Crouch End are receiving investment support inclusive of a £100M pounds investment in place to support housing and infrastructure.  On top of this,  surrounding areas such as Islington are currently saturated and short in supply for office spaces, which makes Haringey perfect for easy migration.

In line with this, WorkSpace Commerce is on an aggressive look out to secure facilities that provide easy migration from saturated areas in and around UK.   The company is on a working mandate to further acquire 2-3 more leased and freehold property within the year (2017) in other up and coming areas of London where demand for co-working/office spaces are strong and undersupplied but easily migrated.

For more information on specialized co-working office space solution in London and more details of our “The Hale” building in Haringey, visit workspace commerce