U.K. & Ireland Sees Coworking Workspace Growth as Companies Embrace Flexible Work

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The future of work in the U.K. and Ireland is becoming increasingly tied to the rise of coworking spaces this year, with a surge in demand for flexible work arrangements driving the growth of the coworking industry. 

Coworking Cafe’s latest Coworking Industry Report for Q2 2024 reflects the increasing employee demand for flexible work across the British Isles, coinciding with the rise of remote and hybrid work environments around the world. It’s a trend that is transforming traditional commercial office markets and impacting business hubs in the region. 

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The data shows that London continues to lead the list of coworking markets with 788 spaces — making up over a quarter of the U.K.’s total inventory of more than 2,800 locations. This is followed by Manchester, which has an inventory of 69 flexible workspaces.  

Bristol also experienced remarkable growth, outperforming larger cities to secure the third spot with 52 coworking spaces. The city’s high supply of flexible workspaces suggests there is a demand not just in larger cities, but across business hubs of all sizes. 

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Ireland, with more than 200 coworking spaces, records a large concentration in Dublin, which is reported to account for half of the nation's coworking spaces.  

Pricing for coworking subscriptions also fluctuates depending on the city, workspace type, and available amenities. The same goes for dedicated desk prices. In the U.K. dedicated-desk prices close the median monthly rate at £215, while open workspace subscriptions are at £155.  

The U.K.’s media virtual office services are priced around £40 per month, and meeting room rentals have a median rate of £25 per hour.  

London's coworking spaces also have the highest median prices for open workspaces (£250 per month), virtual office memberships (£99 per month), and meeting rooms (£45 per hour, according to Coworking Cafe. 

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Companies like Fora, Workspace Group, The Boutique Workplace Company, and WeWork lead the U.K. market but have a limited geographical spread — primarily focused on London and other major cities. On the other hand, Ireland's market is led by Pembr, Iconic Offices, and Workhub, all with heavy concentrations in Dublin. 

As these regions embrace the flexibility and cost-efficiency of coworking spaces, businesses are increasingly likely to optimize their operations outside of traditional office environments, further impacting the workforce and commercial real estate this year.  

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