Flexible office operators (providers of both coworking and serviced offices) could represent 20% of all leased office space in Central London by 2030, according to a forecast from CBRE. With flexible operators in the City and West End currently occupying 9.9 million square feet, CBRE estimates that this occupancy could grow to just under 34 million square feet by 2030.
Stewart Smith, Managing Director, Flex @ CBRE, comments: “If our forecasts are realised, access to the richer amenities and services offered by flex operators will increasingly become considered the norm. As employees begin to expect a more holistic office experience, employers are becoming more willing to pay for these in order to attract and retain talent. As a result, we are seeing landlords evolve their offering, which is driving change in a traditionally rigid asset class. Moreover, as business planning cycles become shorter, flex space serves a crucial role in allowing occupiers to stay agile.”