UK office landlords expect to dedicate more square footage to flexible or co-working space in their buildings between now and 2030, according to a survey commissioned by infinitSpace.
The survey of 250 UK office landlords found that on average 36% of respondents’ office space is currently dedicated to flexible or co-working space and this is anticipated to grow to 54% on average by 2030. The survey also found 10% of landlords predict their portfolio will be almost entirely (91-100%) flexible workspace by 2030, up from 3% currently.
To meet growing demand for flex space from occupiers, more than half (52%) of landlords believe that their office buildings will need to be redesigned or retrofitted.
Wybo Wijnbergen, CEO of infinitSpace, said: “Demand for flexible workspaces is on the rise, and our research shows that landlords are looking to adapt their portfolios and buildings to fit this trend. But there are important lessons as they do so.
“While demand is booming, businesses are surrounded by greater choice than ever and are becoming more discerning when hunting for a workspace to call home. Competition is tough in the flex market, and to stand out from the crowd, attract occupants and futureproof their assets, landlords must ensure their new workspaces are perfectly aligned with businesses’ demands.
“The next steps for office landlords? Taking stock of their existing assets and devising a strategy to optimise workspaces to address the needs of the modern workforce. And, of course, third-party workspace providers are always on hand to provide support, from conception to operation.”
