Connect with us

Hi, what are you looking for?

Business

Flexible office occupancy rates recover to pre-pandemic levels

Flexible office spaces in central London have seen their occupancy rates recover to pre-pandemic levels, new data shows.

A majority of the world’s top 30 flexible workspace providers have seen now seen occupancy rates in their central London offices surpass levels of 60 per cent, a survey by Knight Frank shows.

A further 88 per cent of the top 30 flexible office companies – including WeWork, The Office Group, and IWG – said they are now planning to expand their office footprint, by adding new sites.

More than a third of those surveyed said financial services companies had driven demand in central London, while 25 per cent said demand was being by tech companies.

“Flexible offices have witnessed a post-pandemic surge from the sectors that have traditionally driven office demand in [the City and West End] submarkets,” Knight Frank exec Amanda Lim said.

“Companies of all sizes, from start-ups to larger established businesses, increasingly value the option to move straight into a workspace and easily upsize depending on headcount trends and how much their employees use the office,” Lim said.

One major deal this year saw tech recruitment company Levin let the entire 23,000 sq ft of space in British Land’s 155 Bishopsgate tower.

The research comes on the back of prior research by Knight Frank showing almost half of UK businesses plan to include more flexible office spaces into their property portfolios.

Read more:
Flexible office occupancy rates recover to pre-pandemic levels

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    Business

    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...

    Business

    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...

    Business

    Since the rise of online casinos, cybersecurity has become a major concern for both casino operators and players alike. The transactions that go around...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 rightdecisionnow.com | All Rights Reserved