Brussels Flex Report 2019

This 2019 JLL research report examined the size, growth and geographic distribution of flexible office space in Brussels. It estimated existing flex stock at 114,369 sq. m., equivalent to 0.8% of the city’s total office stock, and projected that confirmed openings would raise supply to at least 216,000 sq. m. across at least 65 hubs by 2021. The report compared Brussels with more mature European markets, including Amsterdam and London, while noting differences in the Brussels occupier base and the exclusion of subsidised incubators from its open-market analysis. It traced a rise in flex-space take-up from 35,194 sq. m. in 2017 to 71,798 sq. m. in 2018, followed by 37,700 sq. m. in the first quarter of 2019. It also documented increasing average transaction sizes and mapped major deals completed or announced between 2018 and early 2019. The district analysis indicated that operators favoured central locations with strong public transport links and concentrations of corporate and administrative tenants. Further sections distinguished traditional serviced offices, coworking and hybrid models, listed confirmed projects and leading operators, and described flexible-workspace initiatives launched by property owners.

Key findings

• Brussels flex stock was estimated at 114,369 sq. m. in 2019, representing 0.8% of total office stock.
• Confirmed openings were expected to raise Brussels flex stock to at least 216,000 sq. m. across at least 65 hubs by 2021.
• Flex-space take-up rose from 35,194 sq. m. in 2017 to 71,798 sq. m. in 2018.
• Flex transactions totalled 37,700 sq. m. in the first quarter of 2019, accounting for 16.2% of total take-up in that period.

Published by JLL, 2019