A new survey commissioned by infinitSpace, a leading provider of flexible workspaces, highlights a significant shift in strategies among UK office landlords. The study, which surveyed 250 office landlords, underscores the increasing role of flexible and coworking spaces in the commercial real estate market.
According to the survey, landlords currently dedicate an average of 36% of their office space to flexible or coworking areas. However, this figure is expected to rise dramatically, with respondents predicting that over half (54%) of their total square footage will be allocated to flexible workspaces by 2030.
Notably, 10% of landlords anticipate that their portfolios will consist almost entirely (91-100%) of flexible space by 2030, a significant jump from the current 3%.
To meet this rising demand, 52% of landlords believe their office buildings will need to be redesigned or retrofitted to address evolving tenant preferences. Nearly two-thirds (59%) view converting traditional office spaces into flexible workspaces as a crucial strategy to stay competitive in the market.
Wybo Wijnbergen, CEO of infinitSpace, commented on the findings:
“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.”
Wijnbergen emphasized the importance of a strategic approach:
“The next steps for office landlords? Taking stock of their existing assets and devising a strategy to optimize 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.”
As the flexible workspace sector continues to grow, landlords are poised to transform their portfolios, shaping the future of work in the UK.
Source: https://ifamagazine.com/uk-landlords-anticipate-54-growth-in-demand-for-flexible-coworking-workspace-by-2030/
