London is Leader in Global Drive towards Flexible Working Locations

Posted on 17 August, 2015 by Jodee Redmond

London is leading the way in providing flexible workspace according to a global report released by DTZ. The “How You Work” assessed the trend towards flexible office space which is rapidly gaining popularity.

ID:10405562

London is a leader in the international community in this regard, with close to 1,000 flexible working locations already in place in the city. This figure represents an increase of more than 10 per cent since 2010 and close to 5 per cent of total office take-up in the capital. Other major international cities, including New York, Berlin and Shanghai have also seen similar growth over the last half-decade.

Sophy Moffat, the Associate Director for Central London Agency & Investment, and the co-author of the report, said: “The world of work is changing and flexibility is no longer sought by the tech, creative and media sectors alone, but by a growing pool of large corporate tenants coming into the flexible office market for the first time. Technology companies may have been the first to customise their own unique experience around a core product, but there’s a growing expectation that property should work like that too.”

Factors Driving Growth in Flexible Office Space

  • Budget and requirements to lower costs and increase efficiencies
  • Companies wish to focus on their core business
  • Location flexibility; there is strong demand for commercial real estate in Central Business District
  • Growth and globalisation in the business world
  • Support for flexible office space exemplified by an increase in flexible working arrangements in corporate and government workplaces

The report also identified cultural forces behind this trend, which are:

  • Increased numbers of people choosing self-employment
  • Growth of the digital economy
  • Connectivity and ease of collaboration enabled by technology
  • The need to recruit and retain the best candidates
  • An increase in professional and corporate networks

Steve Quick, DTZ’s Chief Executive, Global Occupier Services, stated recently, “As businesses adjust to the realities of increasing rents and the rapid pace of a globalised, technology-enabled market, the biggest challenge they face is not cost or mobility, but people.”

“This trend is not simply about creating open plan layouts or adding a café. It is about giving people control and flexibility in their environment. It’s also about enabling connections and creating a community beyond corporate meetings.

“It allows people to work in ways that give them choice, meaning and purpose. At a time of global skills shortage when employers are striving to attract and retain the world’s top talent, this matters.

“Flexible working principles can help surmount a range of challenges, and the values espoused by the industry will become increasingly important.”




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants