Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
What to expect from serviced offices in 2019
Long office leases are likely to be less favorable due to the International Financial Reporting Standard, which causes UK businesses to add £200 billion of liabilities to their balance sheets.
Last year, Savills reported a 150% increase in serviced offices in 2017 and JLL predicted that flexible work spaces would grow by 30% annually.
Still, the Office for National Statistics revealed that company investments fell by 0.7% which suggests that occupiers are being more cautious due to Brexit concerns.
There will be a wider variety of operators in the market, from major firms to smaller companies servicing local areas. It is also expected to see newer firms enter the market, but they will need to differentiate themselves from the competition in order to be successful.
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.