Flexible office space | Biggest shift in the property industry?

Is flexible office space the property industries ''gig economy moment'' ?. We look at its growth and the impact it's having on the industry.

  • Why do some companies prefer flexible office spaces?

  • The Growth in flexible working spaces

  • WeWork

  • Is this shift a good thing?

 

 

FACT: The gig economy is defined as a labour market characterised by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

Why do some companies prefer flexible office spaces?

One word, flexibility. The ‘new model is proving popular with small employers and workers who enjoy the modern collaborative feel of a shared office. This level of flexibility comes in different forms, its membership options offer hot desks, private and office suites and HQ’s. Its flexibility is its most pulling feature, you can easily switch from one type of workspace to another, which allows small business to instantly downsize or expand their operations.

 

Hot desking typically involves one or more employees having no set workspace to call their own either for a set amount of time or permanently, and instead setting up camp at any empty desk.

Flexible Office Space

The Growth in flexible working spaces

Flexible working spaces are set to grow by up to 30% annually for the next 5 years, with property firm JLL calling it ‘one of the biggest shifts in the property industry', however tech investors are warning it’s the beginning of a bubble that will burst.

Another associated risk with flexible office space accrues ‘when any company buys up a huge amount of the stock of office space in the hope of selling it on in bits and pieces, there is a risk you can be left with a lot of empty offices if the economy takes a turn for the worse. Further barriers include cost, security and insurance. As the industry grows there seems to be a need for further transparency from the landlord and customer.