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London’s Growing Flex Appeal

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London’s Growing Flex Appeal – A detailed look at 2019 Central London flexible workspace trends.

London’s Growing Flex Appeal

A detailed look at 2019 Central London flexible workspace trends

Although it accounts for just 6% of the current total UK office market, the future of flexible workspaces looks bright, with analysis suggesting it will grow to a 30% market share by 2030. At the forefront of this growth, Central London is by far the largest and most developed flexible office market in the UK, posting a 34% increase in new spaces in 2019 alone.

A detailed look at 2019 Central London flexible workspace trends

Although it accounts for just 6% of the current total UK office market, the future of flexible workspaces looks bright, with analysis suggesting it will grow to a 30% market share by 2030. At the forefront of this growth, Central London is by far the largest and most developed flexible office market in the UK, posting a 34% increase in new spaces in 2019 alone.

Office Freedom now lists over 850 Central London flexible workspaces.

Illustrating London’s growing flexible working appeal, in 2019 there was a 39% increase in registrations of new spaces compared to 2018. This rapid expansion has seen a new Central London flex location added to the Office Freedom portfolio on average every 1.7 days.

Flex offices and new registrations in 2019 by Central London location

AREA ▼ NEW OFFICES ▼ NO. OFFICES ▼ SHARE
City of London 55 190 22.2%
Tech City 32 102 11.9%
Midtown 24 93 10.9%
SE1 11 72 8.4%
Mayfair / St. James 13 66 7.7%
Soho 15 49 5.7%
Fitzrovia 9 42 4.9%
Marylebone 7 42 4.9%
SW1 9 36 4.2%
Kensington / Chelsea 13 30 3.5%
Central London 2019 - Number of flexible office locations by area and average monthly cost per desk

The choice of flex spaces continues to expand and there are now over 300 operators servicing the capital.

Whilst major operators IWG and WeWork lead the market, they only account for 17% of Central London’s flexible working locations. The number of new flex operators has increased by 10%, with 46 of those entering the growing market for the first time.

Managing over 500 flexible workspace locations, the top 20 Central London operators account for 60% of the area’s market. IWG (Regus & Spaces) and WeWork are the dominant brands with 145 flex locations between them.

Top Central London operators by locations and share

FLEX OFFICE CENTRES ▼ NO. LOCATIONS ▼ SHARE
IWG (Regus & Spaces) 77 9.0%
WeWork 68 7.9%
The Argyll Club 37 4.3%
The Office Group 37 4.3%
Landmark 33 3.9%
Workspace 31 3.6%
The Boutique Workplace Company 31 3.6%
Knotel 26 3.0%
Breather 22 2.6%
Clarendon Business Centres 21 2.5%

Flex Office in Grosvenor Hill, Mayfair, Central London - Operated by IWG (Regus & Spaces)

“IWG (Regus & Spaces) and WeWork are the dominant brands with 145 flex locations between them.”

As demand rises, landlords are opting to transform conventional areas into flexible workspaces, so it’s increasingly common to find dedicated spaces for flex working in properties, such as hotels, restaurants and retailers.

As economic and political volatility settles, the future of London’s flex market looks promising.

For the coming year, predictions include an increase in global investment in the city’s flexible working facilities. Successful operators will need to meet new client requirements and market trends. For example, office facilities focused on wellness and pet friendly policies are growing in popularity.

Whilst flex working has historically been associated with London’s tech boom, it is increasingly common in other sectors, as office space take-up from more traditional industries, such as health, legal and finance, is on the rise.



“Office facilities focussed on wellness and pet friendly policies are growing in popularity.”

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