More than half of UK landlords plan to expand flexible workspace options in their property portfolios, according to The Instant Group‘s 2023 UK State of the Flex Market report.
78% of the respondents reported increased demand for flex in the past year, predicting the demand for such spaces could reach 5 million square meters by 2025.
Among the 200 flex operators and landlords+ surveyed, two-thirds of flex operators intend to increase their footprint in the next two years
The Instant Group’s research also highlights that while the demand is rising, it is still 11% lower than pre-pandemic levels.
London, the industry epicenter, continues to attract investment, driven by declining rates that make the market more accessible in the short term.
“For workspace providers to succeed in the wider flex sector and to combat competition on pricing, design, environmental impact, and overall user experience, they will need to be laser-focused on data and insights to be profitable. We will undoubtedly see a need for aggregated market data to gain the level of granularity and insights key stakeholders need,” said Gavin Foreman, executive director of UK partnerships at the Instant Group.