The dominance of flexible workspace operators in Central London is pushing traditional office leasing practices to change towards shorter term commitments.

According to British broker Office Freedom, Central London led the growth in flex space in the UK, with 586 new flex centres opening in the period 2021 – September 2023, accounting for 80% of the new openings across the country.

“While there has been a steady growth in new serviced office buildings, a large part of the growth in flex space has been due to managed office spaces. Many landlords are now offering fitted, all-inclusive, self-contained spaces, on shorter-term deals. This part of the flex market will continue to grow at pace throughout 2024.”, says Jon Posener, COO of Office Freedom.

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