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Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
HubbleHQ, a flexible workspace platform company, reported a dip in businesses committing to new office space due to the COVID-19 outbreak. Companies that currently use the services of HubbleHQ include WeWork, Knotel and Techspace.
“It clearly differs from operator to operator, but the crisis has put a rapid brake on transactions,” said Mark Lewarne, head of real estate at HubbleHQ. “There are some companies still taking offices, but this is typically being driven by lease expiries.”
The company said it is seeing between 5% to 15% of the usual number of people working in the offices that it services. Lewarne added that operators are offering discounted offices and rent-free periods to stimulate the market.
HubbleHQ is now looking to promote the virtual tours that are offered by the 13 operators on its platform.
