London has become one of the leaders of the coworking industry as the market continues to thrive and evolve. Currently, an average of 5 new locations opens every day in the capital and there are over 1,300 flexible office locations available.
Due to changing work culture, workers are seeking for jobs that go beyond offering a salary: they want a positive community and good employee benefits. That is why many companies are opting for modern coworking spaces and contributing to the office sector’s growth.
Average workstation rates in key areas around London have started falling due to the presence of more operators. For example, Knightsbridge experience a 38% drop in rates as coworking availability continues to grow and competition in the market tightens.
Not only do workers benefit from coworking, but businesses themselves can slash their operating costs and easily scale up or down in flexible offices.
It is evident that London’s coworking market is thriving and will continue to expand in the future despite the uncertainty of the UK economy.
Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.