The majority of flex office operators intend to expand the size of their office footprint over the next two years, according to new research from The Instant Group.
The company’s survey of 180 global flex operators found circa 80% intend to grow their portfolio by 2026, with most of the growth set to occur in EMEA countries where 91% of operators are looking to expand by up to five locations.
Operators planning to expand indicated they will focus on providing flex spaces that include private offices and meeting rooms, as they have experienced an uplift in utilisation over the last year of 36% and 52% respectively.
In the UK flex market, 64% of operators are also increasing the level of investment they are making in the fit-out and finish of space.
Gavin Foreman, executive director, partnerships, UK, at The Instant Group, said: “The flex market is continuing to evolve in line with customers’ changing space requirements and usage patterns. To succeed in the market, it is essential that workspace providers continue to productise and differentiate their offering. There has been a shift in demand over the last year for more private offices and meeting rooms and this latest research shows that there is an ever-increasing focus on the sustainability of the spaces people are working in.
“While there are incredible opportunities in the sector, with many indicating their plans to expand in the coming years to capture demand, there are underlying concerns about the utilisation of spaces, highlighting how important the location, cost and amenities on offer are to a successful workplace brand. Operators that make use of reliable market data and insight will be able to make smart investment decisions to meet evolving demand and in turn increase revenues.”
