• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Nexudus - Tech Stack Lovers
Home Press

Flexible Space Operators Quick To Identify New London Hotspots, Says Savills

Allwork.Space - PressbyAllwork.Space - Press
December 11, 2017
in Press
Reading Time: 3 mins read
A A
London south bank pexels

A surge in venture capital investment in parts of London, including the South Bank area, is leading to high demand for flexible space -- and workspace operators are responding.

More stories for you

U.S. Labor Market Stumbles As Recurring Jobless Claims Hit Highest Level Since 2021

U.S. Labor Market Stumbles As Recurring Jobless Claims Hit Highest Level Since 2021

4 hours ago
U.S. CDC Reinstates 450 Laid-off Employees

U.S. CDC Reinstates 450 Laid-off Employees

4 hours ago
Overworking May Be Rewiring Your Brain, New Study Warns

Overworking May Be Rewiring Your Brain, New Study Warns

4 hours ago
IWG Expands In Budapest With Two New Flexible Office Locations

IWG Expands In Budapest With Two New Flexible Office Locations

4 hours ago
  • Research from Savills and Workthere suggests that serviced office operators have been quick to react to new demand in specific parts of London.
  • In 2017, take-up by flexible space operators in London’s South Bank and Midtown has increased 133% and 104% respectively, compared to 2016.
  • The demand is largely attributed to a “substantial rise in venture capital (VC) investment” in these areas.

According to company data analysed by Workthere, venture capitalist (VC) investment into start-up companies located in London to the end of Q3 2017, is already 8.6% ahead of the £2.6 billion recorded for the whole of 2016.

Interestingly, Workthere notes that start-ups in the south bank and midtown, which are not generally recognised as core markets for these businesses, have seen a substantial rise in VC investment, with the number of deals transacted in these areas during 2017 expected to represent an average year-on-year increase of 105% and 81% respectively, since 2013.

Advertisements
Maximize Flexible Space Revenue

These growth rates are similar to those seen in the traditional core markets such as Shoreditch and the city core, with the number of VC investment deals into start-ups transacted in each of these locations expected to have risen on average year-on-year since 2013 by 107% and 93%, respectively, at the end of 2017, according to the company data analysed.

In line with the increased VC interest, serviced office providers have also identified an opportunity in the south bank and midtown in terms of targeting the start-up community, having accounted for 314,695 sq ft and 158,019 sq ft of take-up respectively at the end of Q3 2017.

Advertisements
Yardi Kube automates flex and coworking operations

According to Savills research, this reflects an increase of 133% for the south bank and 104% in midtown when compared to take-up by these occupiers during the whole of 2016.

The firm notes that take-up by serviced office providers in the south bank to the end of Q317 is of particular note as it is just below that recorded during the same time period in Shoreditch (316,371 sq ft), and significantly above the city core (133,672 sq ft), both of which are areas that have traditionally been the main start-up clusters in London. A prime example of this is WeWork signing up for 280,000 sq ft at Two Southbank Place.

Cal Lee, head of Workthere, comments: “The strong level of VC investment into start-up companies across London is a positive and encouraging sign and demonstrates the strength of the capital as a leading location for these businesses, despite the uncertainty surrounding Brexit.

“The fact that there has also been a significant rise in VC start-up investment deals away from the traditional hubs of Shoreditch and the city core in locations such as the south bank and midtown, further underlines London’s growing strength.

Advertisements
Nexudus - Tech Stack Lovers

“In addition, alongside Savills, we have identified a direct correlation between the rise in VC investment and increased take-up by serviced office providers, particularly in these less established start-up locations. This is a trend that we expect to feed out into other sub markets that are not as populated with serviced office space, such as North Oxford Street East, Clerkenwell and Farringdon, as the demand for flexible space to compliment growing businesses continue.”

With regards to rental tone for serviced office space in these London sub markets, Workthere reports that both south bank and midtown are currently competitively priced at approximately £650 per desk / per month, while Shoreditch and the city core are estimated at £700 and £750 per desk / per month.

Steve Lang, Savills research team director, adds: “The London sub markets currently offer a strong alternative for new businesses and start-ups looking for short-term flexible and serviced office space as they establish their business in the market. We expect these communities to continue to expand across the capital as demand for this type of space grows as a result of VC funding.”

Share5Tweet3Share1
Allwork.Space - Press

Allwork.Space - Press

The Allwork.Space Press Room enables brands to broadcast their innovations and achievements, providing a streamlined channel for disseminating news and fostering meaningful dialogue with industry pioneers and thought leaders, ensuring their participation in shaping the Future Of Work®. Submit your Press Release Here

Other Stories Recommended For You

U.S. Labor Market Stumbles As Recurring Jobless Claims Hit Highest Level Since 2021
News

U.S. Labor Market Stumbles As Recurring Jobless Claims Hit Highest Level Since 2021

byAllwork.Space News Team
4 hours ago

The number of Americans filing new applications for unemployment benefits held at an eight-month high last week, consistent with easing...

Read more
U.S. CDC Reinstates 450 Laid-off Employees

U.S. CDC Reinstates 450 Laid-off Employees

4 hours ago
Overworking May Be Rewiring Your Brain, New Study Warns

Overworking May Be Rewiring Your Brain, New Study Warns

4 hours ago
IWG Expands In Budapest With Two New Flexible Office Locations

IWG Expands In Budapest With Two New Flexible Office Locations

4 hours ago
Advertisements
Maximize Flexible Space Revenue
Advertisements
Nexudus - Tech Stack Lovers

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00