Why Office and Coworking Hubs Will Survive the Crisis

Things were not looking good for coworking spaces this year. Some reports said that 1 in 5 coworking spaces would close or change hands.

Office occupation was also pretty bleak for developers and landlords. They were left scratching their heads to try and figure out how they could collect rents or lease their spaces.

Now that we are in November the blurry office and cowork picture has become much clearer.

Workspaces Have Adapted

We all work differently. Some of us work better in mornings, others are night owls. Some like to exercise, others prefer coffee to get motivated.  Some champion productivity and wellbeing agendas, others prefer to work hard and play hard. However, away from the constraints of working at home, we all crave inspiring and creative workspaces to be fulfilled and meet our deadlines.

Office space has just gone from being archaic, underused and inefficient to now being creative, efficient and started to actually listen to its audience.

And the audience wants flexibility and great value. Like that office but didn’t want to sign a 5-year lease?, well now you can have that office for a day, a week or even a month. You decide. Like ordering food via an app or an item of clothing online, real estate has finally become flexible and intuitive.

The property guys call it on-demand, flex, a decentralized solution. Call it what you like but the power has shifted back to the occupier.

When you think that offices are not used for like 65 percent of the time, soon the market had to be disrupted, PROPTECH companies tried, but it was actually COVID-19 that accelerated change in the sector.

There is a reason why retail giants like John Lewis want to turn huge areas of their retail estates into office spaces.

Coworking spaces have always led the charge in offering sensible lease lengths and terms. We feel that coworking brands will continue to innovate by offering ultra-flexible office deals and creating spaces that are more inclusive and affordable. Well&Work adapted to this change in June by offering many flexible solutions for their membership plans.

Local Coworking Hubs Are Surviving the Pandemic and the Neighbourhood Is Getting Its Mojo Back

We are also witnessing demand on a local level for office and coworking space. Working near home has become the way forward for most professionals - which should reinvigorate neighbourhoods, help connect communities and drive footfall to the highstreets.

Want to know more,get in touch to have a chat with our team.

Stay well x

Related posts

0 comment(s)