Cushman & Wakefield have revealed interesting details in their new report Coworking 2020: What’s Next on the Flexible Workspace Horizon?
Although flexible offices have faced innumerable challenges throughout the pandemic, the report finds that the industry could actually become a sweeping solution for companies looking to bring workers back into a safe workspace, particularly outside of major cities.
The report indicates UK markets like Bristol, Glasgow and Leeds as ones to watch for their anticipated growth.
However, Cushman & Wakefield also predict that there will be an increase in managed workspaces, which will look more like a traditional lease with flexible terms.
Activity has, of course, been impacted this year as flexible office take up accounted for only 4.2% of total take up across the UK’s major markets.
The report also reviews the impact that previous recessions have had on the flexible office sector, and expect that companies opting for more flexible solutions will flock to these spaces.
“Whilst we believe the long-term fundamentals of the flexible workspace sector are strong, COVID-19 is accelerating changes that we have been seeing in the last 12-18 months,” said Emma Swinnerton, EMEA Head of Flexible Leasing Solutions at Cushman & Wakefield. “As flexible workspace providers recover from a tough few months, we believe greater adoption of this risk sharing model together with increased occupier demand will continue to drive growth in the medium-long term.”
