EVERYTHING YOU NEED TO KNOW ABOUT COWORKING IN ONE PLACE.
Coworking has become the catchall term for growth in demand in flexible workspace, however the operator offer is technically more nuanced. Coworking has largely been driven by aggregating entrepreneurs and freelancers. While this remains a key source of demand for operators, the segment is increasingly attracting small businesses and companies.
Flexible workplace incorporates three key choices for businesses looking for more flexible commercial real estate:
- serviced offices; and, for larger tenants
- managed offices.
What is coworking?
- Fixed monthly fee for unlimited access on a first come first served basis
- Or more limited access on a pay as you go basis
- Includes internet access, refreshments, meeting rooms (may be chargeable), a curated calendar of events and an ever increasing range of benefits such as partner discounts
What is a serviced office?
- Fixed price per desk/per office for an ‘all inclusive’ offer
- Includes reception services, internet access, refreshments, meeting rooms (may be chargeable)
- Other services may be provided for an additional charge
Irrespective of the size of the firm, flexible lease lengths for serviced offices afford businesses the ability to grow or shrink their office space as needed, providing options not typically available in traditional office leasing markets.
What is a managed office?
- A hybrid offer between a serviced office and a traditional lease aimed at customers who want to create their own space but don’t want the hassle associated with managing it
- The space will need fitting out; this and other services can be offered by the landlord or a third party provider
Managed office space means the customer can configure and brand the space as if it were their own, rather than having to work with the existing space design and desk layout as provided in the serviced office.
Instead of paying rent quarterly in advance (in the UK) the customer pays monthly (for space, fit out, on an inclusive, flexible contract. While it can come at a premium it provides greater flexibility for large businesses looking for project team or short term space or for high growth organisations.
OUR WORLDWIDE COWORKING AND FLEXIBLE WORKPLACE INSIGHTS
Our UK coworking report looks at how the sector has expanded across central London and the UK regions and how business models from both operators and landlords are adapting to changing customer demands. We look closely at how fast the sector will grow and what it means for traditional office space.
>>See the latest 2019 issue here
>>Download the 2018 issue here
European Coworking Hotspot Index
is focused on identifying what’s next for coworking across Europe. By understanding where it is likely to go next, landlords and operators of commercial real estate can be on the front foot with respect to rethinking the design of their traditional office space. Flexible workspace – including coworking - accounts for between 10-20% of leasing activity in Central London. WeWork, now London’s largest private tenant, has a valuation larger than any office REIT. But, where will the model expand next in Europe and what does it mean for traditional office space?
Asia Pacific Coworking Trends
Coworking has taken the Asia Pacific region by storm. No longer just a real estate alternative, coworking in Asia Pacific has seen more than 8 million sq ft leased over the last two years. In our essential Asia Pacific coworking report we bring you seven key trends that are driving the growth of the flexible workplace ecosystem across the region.
US Coworking & flexible office space report
Our US report on this growing and influential sector. Across America coworking is changing how occupiers, workers, and investors think about the office workspace. However, questions remain about the sustainability of the model and what its ultimate impact will be on traditional office space. Our report
delves into where the sector is and what to expect in the future.
Looking for flexible workplace solutions but aren’t sure where to start?
Our UK Serviced Offices team will guide you from market research through to moving you in to your new space. See how we could help you.