Coworking – The Asset Light Approach

The 2021 JLL slide deck examined asset-light approaches to flexible workspace and the changing roles of landlords, occupiers and flex operators. It presented flex operators as intermediaries linking property owners with occupiers, then compared operating structures according to the owner’s ability to influence operations and the associated return opportunity. The models ranged from a landlord providing flex space directly and a flex operator acting as leaseholder to revenue- or profit-sharing leases, management or franchise agreements, white-label management agreements and landlord-operated flex brands. The deck grouped revenue-sharing, management, franchise and white-label arrangements within the asset-light approach. It also divided flexible workspace provision into tenant, operator and self-perform categories, illustrating each with company and brand examples. Most established flexible-space supply was shown within the operator category, while the presentation highlighted a shift toward self-performance by landlords. The material remained a concise strategic overview rather than a detailed financial analysis, and the visible slides did not quantify returns or examine the potential traps mentioned on the title page. Adam Lis, identified as JLL’s Flexible Office Solutions Manager, was listed as the contact.

Key findings

• The deck grouped revenue-sharing leases, management agreements, franchise agreements and white-label management within the asset-light approach.
• Its operating-model chart associated stronger owner influence over operations with greater return opportunity.
• The presentation highlighted a shift from operator-led flexible-space provision toward landlord self-performance.

Presented by Adam Lis, JLL, at Coworking Europe 2021