In a recent article in Workplace Insight headlined “Challenging some of the most commonly held misconceptions about coworking“, John Williams Head of Marketing at The Instant Group outline the various components of the coworking industry, such as the concept of “corporates” buying more flex workspace, and the balance between square footage v profitability, . While he covers the general overview and uses of coworking one paragraph grabbed out attention:
The last five years has seen terrific growth and a new dynamic for the flexible workspace market as the wider real estate sector wakes up to the possibilities that a more agile approach represents. As a result we are seeing more landlord interest, higher client demand, the adoption of flex space by corporate occupiers and growth in supply across the UK as a whole.
Interest in the flex market model shows that the conventional market is finally responding to occupier demand that has been growing significantly year on year. In every other sector where market disruption has taken place – retail, travel, media etc. – this initial acknowledgement of changing end-user behaviour has ultimately led to significant changes to the status quo.
The property market will need to adapt and evolve to this challenge of meeting consumer demands in a way it has never had to do so before. The flexible workspace market provides space to its clients on their terms – flexible pricing, length of stay, choice of location, buying online and, yes, even free beer!
Space blends with service and is then packaged up as a single product. This is the fast moving end of the property market where the customer (not the tenant) is right, and the end-product has been created for a specific user-base.
Do you agree? We would love to hear your thoughts!
Are you ready to find your flexible workspace? Start right here on 99spaces.co.