According to the annual review of the UK market by flexible workspace specialist The Instant Group, demand for serviced offices increased by 21 per cent across the UK last year and the UK market for flexible workspace has grown 11 % in the last 12 months.
London saw the highest growth in the number of centres offering flexible workspace and now represents a third of the whole UK market while Suburban locations have seen some of the fastest growth in terms of workstation rates and enquiries, despite a 12.5% increase in supply.
This trend seems to be continuing as the supply of flexible workspace has overtaken conventional office space by some margin in the last year.
Tim Rodber, CEO of The Instant Group, said:
“Growth in what might be considered secondary locations in the fringe and outer fringe of London have been driven by occupiers seeking more competitive workstation rates in a booming market.
“This trend will continue through 2016 to 2017 with new locations such as Camden, Hackney, Clapham, Waterloo, Soho, Stratford, Marylebone and Vauxhall coming to the fore.
“There is still high demand in traditionally popular areas with strong transport links such as Kings Cross, Euston, London Bridge, and Oxford Circus but operators are struggling to acquire the right floor plates at competitive rates that would facilitate increased supply.”