History has been made as serviced offices and co-working spaces top the London leasing market.
According to new research from Cushman & Wakefield, serviced and co-working office space providers have accounted for the largest share of office space leased in central London for the first time.
The total serviced office and co-working space leased in the first half of 2017 is more than the total serviced office space let in the whole of 2016 (853,178sq ft).
Amy Emery, Head of Serviced Office Advisory, Cushman & Wakefield, said: “This most recent quarter was a defining one for the serviced office and co-working sector with barely a day going by without another significant announcement. The market is becoming increasingly competitive and large-scale operators WeWork, The Office Group and London Executive Offices all increased their footprint across central London.
More traditional owners have also made serious moves into the sector in the last quarter with British Land launching its Storey concept and Blackstone buying a majority stake in The Office Group. Each development is further evidence of the fundamental changes occurring in the occupational market driven by a desire from companies of all sizes for greater flexibility.”
Elaine Rossall, Head of Central London Research, Cushman & Wakefield added: “At a time when some sectors are wrestling with the impact of technology, Brexit or both, the rapid expansion of serviced office and co-working space has meant that this hasn’t translated into any slack in the market. It also means that the variety of office workspaces on offer to occupiers in London is arguably better than ever before.”
Current serviced offices and co-working space to let on Boxpod include:
All inclusive packages with superfast broadband and 24/7 access with flexible terms can be found on Threadneedle Street, EC2R. Availability is constantly changing so check for latest prices according to office space required.
Hot desks and co-working space can be found at Chandos Place, Covent Garden WC2N, with meeting rooms, business lounge and free WIFI and refreshments. Prices and availability on application.
In Risborough Street, SE1, there is a split level, open plan 1230sq ft office space for £71,000pa (approx £1,365pw)
At Minories, EC3N, flexible serviced offices and co-working spaces are available to rent with an onsite gym and large communal break-out area among features. Check for latest prices and availability.
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