New research from JLL has revealed that the flexible office stock in Glasgow and Edinburgh is expected to double and account for 4% and 3% of total office stock, respectively, over the next five years.
Currently, flexible office providers take up 1.5% of Edinburgh’s total office footprint, totaling 376,000 square feet. Regus, the largest flexible office operator, occupies six locations and WeWork operates about 46,000 square feet of space at its George Street location.
“Edinburgh’s status as one of the UK’s fastest growing tech hubs is reflected in the diversity of the city’s flex workspace offerings,” said Ben Reed, JLL’s lead director Regional Tenant Representation. “However, supply remains the key stumbling block to any rapid growth in flex stock. Flex operators are typically looking for space north of 30,000 sq ft, and there simply isn’t much of this size available at present.”
Glasgow’s largest flexible workspace firm is Clockwise, a provider that offers both coworking and private offices and operates 36,500 square feet of space at Savoy Tower.
