London is leading the way in providing flexible workspace according to a global report released by DTZ. The “How You Work” assessed the trend towards flexible office space which is rapidly gaining popularity.
London is a leader in the international community in this regard, with close to 1,000 flexible working locations already in place in the city. This figure represents an increase of more than 10 per cent since 2010 and close to 5 per cent of total office take-up in the capital. Other major international cities, including New York, Berlin and Shanghai have also seen similar growth over the last half-decade.
Sophy Moffat, the Associate Director for Central London Agency & Investment, and the co-author of the report, said: “The world of work is changing and flexibility is no longer sought by the tech, creative and media sectors alone, but by a growing pool of large corporate tenants coming into the flexible office market for the first time. Technology companies may have been the first to customise their own unique experience around a core product, but there’s a growing expectation that property should work like that too.”
Factors Driving Growth in Flexible Office Space
The report also identified cultural forces behind this trend, which are:
Steve Quick, DTZ’s Chief Executive, Global Occupier Services, stated recently, “As businesses adjust to the realities of increasing rents and the rapid pace of a globalised, technology-enabled market, the biggest challenge they face is not cost or mobility, but people.”
“This trend is not simply about creating open plan layouts or adding a café. It is about giving people control and flexibility in their environment. It’s also about enabling connections and creating a community beyond corporate meetings.
“It allows people to work in ways that give them choice, meaning and purpose. At a time of global skills shortage when employers are striving to attract and retain the world’s top talent, this matters.
“Flexible working principles can help surmount a range of challenges, and the values espoused by the industry will become increasingly important.”
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