List your space
The impact of Covid-19 has left many businesses re-evaluating their current real estate strategy. Now more than ever the demand for flexibility is high both for businesses and their staff, and as a result flexible office providers have responded with a range of office options to cater for the ever-evolving needs of occupiers and their staff.
Below we have outlined the various flexible office solutions on offer to help you navigate the best strategy for your business. Whether you’re a larger business in need of one central bespoke headquarters, a small team requiring multi-location coworking space or are looking to adopt a combination of a few different models, the flexible office sector has something to suit.
Taking conventional office space in a building that also houses a flexible office operator can offer opportunities to take additional space or utilise key amenities on temporary terms. This solution can be particularly appealing to larger businesses in need of a core office, without having to incorporate additional space (at a higher cost) to accommodate meeting rooms or event space, for example. Most flexible offices offer meeting and event space that can be hired out on an ad-hoc basis. Alternatively a private office can be rented for short periods of time and used as project space, often offering a more creative and secluded environment away from the main office.
Geared towards large businesses, this solution involves taking a whole floor of office space or even an entire building, in which the design and configuration can be tailored to specific requirements. The day to day running of the space would be taken care of either through an existing managed flexible office operate such as Kitt Offices or Knotel, or by a third party management business on behalf of the landlord.
Coworking desks are often best suited to individuals such as an entrepreneur with an early stage business, a remote worker or afreelancer, but also smaller teams looking for a single desk or a small number of desks in a shared space with access to the communal amenities that a flexible office provides. These vary from provider to provider but can include kitchen facilities, meeting rooms and event space. Coworking desks are either hot-desks or dedicated to an individual and in some cases come with lockable storage.
Hot desk packages are usually cheaper and limit you to a certain number of days/hours per month, but enable you to be footloose between locations, whilst dedicated desks offer you a permanent home, in an open and vibrant environment. We have seen an increase in demand for both types of co-working space following Covid-19, as many individuals seek somewhere local to work where working from home is not possible, or simply they want to mix-up their working week.
A private office is the main offer of most flexible office operators (typically over 60% of the space) and is a great option for businesses of all sizes who require dedicated space that also has access to the shared facilities provided within the flexible office space. This is a particularly good solution for start-ups and scale-ups who may fluctuate in size over an time period and the space can expand or reduce with them as necessary. But is also useful for companies needing project space, or swing space, or simply a drop-down space for staff where their HQ office is in a different part of the City.
This is an excellent option for all types of businesses looking for private office space that you can put your own stamp on. Similarly to a standard private office, you’ll benefit from access to the communal facilities, which are dependent on which provider you take space with. This option gives you the flexibility to incorporate your company branding into the office, and create a more individual space that maintains your company culture. You might also add a dedicated meeting room, or executive office, or even change the furniture style should you want something different to the standard provided.
Multiple location co-working can be utilised in two ways. The first option is to take co-working space with a multi-site operator such as WeWork or IWG that has an extensive portfolio of spaces across the UK and internationally, and offers memberships gaining you access to some or all of their network of spaces.
Alternatively, you can utilise an intermediary platform designed to find available co-working desks at a range of different providers across the market. Typically these platforms work on a credit basis and offer a quick and easy way book a coworking desk without being tied to one operator. Multiple location coworking could be used in addition to a HQ space, for those staff that require greater flexibility and mobility in where they work.
A self-contained suite is typically suited to larger teams and offers private space that can be customised to suit your business requirements. It enables you to use your own signage and alter the design and configuration of the space to incorporate certain facilities like kitchens or meeting rooms.
The majority of flexible office providers offer meeting space for hire, which is particularly useful for businesses operating remotely but still require a professional environment in which to meet with clients or other members of the team. Meeting space can be booked on an ad hoc basis and is often charged by the hour, or on a credit system. In some cases providers can accommodate recurring meetings, for example if you require a meeting room every Tuesday morning for the next three months. When making a block booking there can be more flexibility to negotiate discounts.
Ideal for entrepreneurs and small businesses, this solution is best suited for companies that don’t require a physical office space, but still require a business address for mailing purposes or call answering services. A virtual office is a cost-effective solution that enables you to maintain a professional image.
Quite often flexible office space is simply referred to as just ‘co-working’, but clearly there are a myriad of different options, offers and products available to businesses depending on what their needs might be. We list over 5,000 different spaces across the markets we operate, so if you’re not surewhich option is right for your business? Our experts are on hand to offer you free advice so that you find the workspace that works best for you.
Simply call or get in touch with via the contact form and speak to one of our experts today to discuss your flexible office space need.
Looking for a new office or want to list your office space for rent? Our team of experts are on hand to help.
All content © copyright 2024 Savills. All rights reserved. Savills plc, incorporated and registered in England and Wales. Registered office: 33 Margaret Street, London, W1G 0JD. Registered number: 2122174. Savills plc is a holding company, some of whose subsidiaries are authorised and regulated by the Financial Conduct Authority (FCA)
