A number of UK flexible workspace markets could hit capacity in the next two years unless new supply is delivered, according to new research from The Instant Group.
The company’s Q1 2024 UK State of the Flexible Workspace Market report found the flex markets in Weybridge, Huddersfield, Cannock, Oxford and Edinburgh will reach capacity in the next 12 months, with Leicester, Reading, Cheltenham, Birmingham, Liverpool, Newcastle, Bristol, Glasgow and London, set to reach market capacity in the next two years.
Gavin Foreman, executive director, UK partnerships at The Instant Group, said: “Two resounding themes have surfaced from our latest research on the UK flex sector: supply must grow, and quality is king. As numerous UK flexible workspace markets near capacity, there are clear strategic investment opportunities to quickly deliver new supply. But with a 1.5-year lead time for new flex workspaces, it is only with the use of market data that flex operators can optimise asset selection and make the right investments in the right places to maximise returns.
“As one of the most mature markets for flex space, the UK has shown resilience despite macroeconomic headwinds such as rising operational costs and a lagging return-to-office culture. We are yet again seeing pockets of opportunity for providers of office space to capitalise on the evolving demand for flex space in all of its varieties.”
