• 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
Kube Suite - TL
Home Press

Flex-Space Phenomenon Lands In Bristol

Allwork.Space - PressbyAllwork.Space - Press
October 17, 2019
in Press
Reading Time: 3 mins read
A A
Press Release

The South West and Wales Office Market 2019 found that Bath boasts the strongest occupancy rate of any location, standing at 96%

  • Bristol City has seen record annual take-up from serviced office operators.
  • Bristol is a prime target for expansive operators, albeit a lack of suitable stock has seen the city arrive slightly late.
  • Bath boasts the strongest occupancy rate of any location, standing at 96% according to an August survey.

The pack of serviced office operators circling Bristol is testament to the city’s credentials as an elite business location.

Bristol city centre has already seen record annual take-up from serviced office operators, according to Lambert Smith Hampton South West & Wales Office Market Report 2019 report with the latter half of 2019 yet to be accounted for.

Advertisements
Workspaces Run Better On UltraSoftBIS

With this in mind, Oliver du Sautoy, Head of Research at LSH reviews the recent spike of flex-space activity in Bristol and how the new wave of flex-space operations are raising the bar in quality.

The recent spike of flex-space activity in Bristol reflects a perfect storm of factors. In a rush to grab market share, structural changes in occupier demand have preceded something of a ‘space race’ among operators and their respective investors. The initial commotion began in Central London in 2017, and has subsequently rippled out to the UK’s other major centres.

Advertisements
Yardi Kube automates flex and coworking operations

Bristol is a prime target for expansive operators, albeit a lack of suitable stock has seen the city arrive slightly later to the party than other core regional markets. Bristol is highly conducive for flex-space solutions, being a haven for start-ups and small businesses, particularly in creative and tech industries, and fed by a pool of talent from its renowned academic institutions.

Despite the recent scale of activity in Bristol, the growth of flex-space is off a low base. While Bristol is home to the highest proportion of flex-space among the region’s key markets, equivalent to 3.6% of total stock, this is below the average for the UK’s South East markets (3.8%). Even when the recent acquisitions and live requirements become operational, Bristol’s share of flex-space rises to only 5.2%, below that of Central London (5.5%).

Bristol’s scale and positive occupier market attributes merit the attention it has received from serviced office operators, but the region’s other key markets should not be overlooked. Variation in both current levels of flex-space and prevailing occupancy levels should be an important consideration to both landlords considering more flexible leasing offers and serviced office operators seeking to exploit gaps in the market.

Our analysis of the current flex offerings reveals that occupancy levels are generally strong across the region. Bath boasts the strongest occupancy rate of any location, standing at 96% according to their August survey. While Bath is much smaller scale than Bristol, it enjoys similar traits to its near neighbour, and there is clearly scope for additional flex-space in the market to meet demand.

Advertisements
Workspaces Run Better On UltraSoftBIS

Elsewhere in the region, current supply of flex-space typically accounts for under 2% of total stock, while the only markets with occupancy of below 85% are Bristol out of town and Cardiff. Clearly, therefore, there is scope for new entrants to other markets across the region, particularly as the current supply is dominated by relatively conventional flex-space.

A wake-up call to Landlords?

With more serviced office requirements set to enter the markets, the recent activity we have seen is no flash in the pan. So, should landlords of conventional offerings be concerned? The tides of structural change will see more and more occupiers, particularly at the smaller end of the market, turn to flexible offerings.

While traditional serviced offices typically lack the wow factor, the new wave of flex-space operations are raising the bar in quality, in terms of design, appeal and amenity provision.

Landlords of more conventional offices have to adapt their own offerings to meet the growing appetite for an office to reflect a more holistic, aspirational lifestyle that extends beyond only the functional need for space.

More stories for you

How AI Is Creating a Profit Divide Among Coworking Operators

How AI Is Creating A Profit Divide Among Coworking Operators

24 hours ago
IWG Partners With SmartLabs To Bring Flexible, Fully Managed Labs To Global R&D Markets

IWG Partners With SmartLabs To Bring Flexible, Fully Managed Labs To Global R&D Markets

2 days ago
Commuter Perks Go Plush As London Offices Add Sleep Suites And Saunas

Commuter Perks Go Plush As London Offices Add Sleep Suites And Saunas

2 days ago
Flexible Workspace Demand In U.S. And Canada Up 19%

Flexible Workspace Demand In U.S. And Canada Up 19%

3 days ago

To view and download a copy of LSH South West & Wales Office Market Report 2019, click here.

Tags: Coworking
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

How AI Is Creating a Profit Divide Among Coworking Operators
Coworking

How AI Is Creating A Profit Divide Among Coworking Operators

byEmma Ascott
24 hours ago

AI is driving a profit gap in coworking as data-savvy operators outpace competitors in growth.

Read more
IWG Partners With SmartLabs To Bring Flexible, Fully Managed Labs To Global R&D Markets

IWG Partners With SmartLabs To Bring Flexible, Fully Managed Labs To Global R&D Markets

2 days ago
Commuter Perks Go Plush As London Offices Add Sleep Suites And Saunas

Commuter Perks Go Plush As London Offices Add Sleep Suites And Saunas

2 days ago
Flexible Workspace Demand In U.S. And Canada Up 19%

Flexible Workspace Demand In U.S. And Canada Up 19%

3 days ago
Advertisements
Workspaces Run Better On UltraSoftBIS
Advertisements
Disaster Avoidance Experts

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