Landlords are hoping flex can beat the heat of an incoming recession.
According to The Instant Group’s annual Future of Flex 2022 survey, 64% of landlords plan to incorporate flexible offices into their buildings in the coming years.
Expanding isn’t necessarily a surprise as demand for flexible offices has grown in recent months driven by the adoption of hybrid work models. What is surprising are the 39% of respondents who wish to do so across city centers — an area that has infamously struggled to rebound from the pandemic.
In addition to expanding to simply meet demand, landlords also want to diversify, with half of respondents saying around 16% to 25% of their portfolios will be flexible by 2025.
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The way in which landlords incorporate flexible offerings varies — 10% say they want to team up with established providers under landlord brands, 18% are looking to sublease space to flexible office operators, while 36% plan to deliver these solutions themselves.
“It’s clear that the momentum behind the flexible office sector continues to gain pace. Given this demand and the opportunity to enhance overall returns, landlords are increasingly considering the role that flexible workspace can have in their portfolio,” said Craig Hughes, CEO of Partnerships at The Instant Group.
