The growth of shared workspaces in the last five years has been phenomenal, at a rate of 200%. In global cities like London, New York and Chicago they are expanding at an annual rate of 20%. The number of coworking spaces will rise to 3.8 million by 2020 and 5.1 million by 2022. As the demand for flexible office space continues to grow, we’re sharing our predictions for 2019.
Corporates continue to explore flexible workspace for their teams. Aside from the financial benefits of serviced offices, big businesses can gain insights into industry disruption, encourage collaboration and identify new talent without leaving the office. Big names like Google, AirBnB and Amazon have already signed up to a flexible workspace in order to facilitate growth and update their look. This demand by big business for flexible office space, and the reasons for this growth, are explored here.
As companies look to collaborate and inspire, many find traditional office blocks dated and mundane. This year we’re looking out for even more innovative flexible spaces, whether corporates join WeWork’s pop-up offices, or look to airports, hotels, train stations and apartment lobbies for space. These spaces will focus on sustainability and staff wellness, offering a range of benefits including babysitting and pet friendly spaces.
The move away from shift managers will see an increase in 24/7 security with access cards, management software, automated systems to monitor attendance, meetings and invoices. No need for unnecessary risks and costly human error, with flexible offices which include greater safety measures.
With Brexit and US relations turbulent as ever, it’s not surprising many would like to keep their options open. Businesses of all sizes would like the flexibility to scale up or down at short notice. Supplying this demand, we expect property groups and real estate agents will continue to move into flexible workspaces.
Niche New Spaces
Breakout spaces allow teams and like minded individuals to gather in spaces which cater specifically to them, and with the demand for office space growing we can expect niche new spaces opening up. Most recently, we’ve seen demands for women-only spaces and advanced pods for the technically proficient. The ability to create communities, mirroring spaces like Google’s Campus London will have a knock on effect.
It’s an exciting time for the co-working industry, with flexible spaces attracting companies of all sizes to explore their options. If you’re interested to see what’s out there, check out our listings here and join the revolution!