Is there a market for flexible working spaces?

Flexible office space is a flexible alternative to traditional office solutions, affording companies and individuals the possibility of having a versatile office space solution. Flexible workspace is also known as shared office space or flexispace. This type of office space is fitted with basic equipment, like desks and chairs, but in a comfortable professional environment. This setup that allows employees who normally work from home or telecommute to have a physical office for a few hours every week or every month.

Unlike in traditional offices, space allocation in flexible workspaces is not fixed, so businesses can maximise the efficiency and therefore value. Post Covid emploers and employees are questioning the need for traditional offices where employees spend most of their working day at their desk, flexible workspace solutions allow staff to work from different locations and to only work from the office when necessary.

Generally speaking, flexible office space gives business owners access to fully equipped office premises without the associated costs, long-term lease duration or contract terms.

The way we work is being reinvented post covid, work/life balance, remote working, dynamic working spaces and flexibility are now key for many businesses.

Flexible office space is also known as temporary work space. Traditional leases and license agreements cannot always accommodate the needs of businesses through every stage of their development. For instance, some companies may need to take up additional office space during a particularly busy period, but cannot commit to a long-term lease. Other firms may need to vacate their current premises while they look for more suitable long-term space. Start-ups may want to rent office space on a temporary basis before committing to a specific location. In cases like these, flexible office space is an ideal solution, as it provides the kind of flexibility that traditional office space cannot offer.

There are other reasons why flexible office space may appeal to some business owners. Reduced overheads are one of the most commonly cited advantages of flexible workspace. Generally speaking, flexible offices are cheaper than their traditional counterparts. Fixed monthly costs make financial planning easier and allow companies to manage their budget more accurately, helping them reduce their overheads.

Brian Williamson

Brian Williamson is the Commercial Director of WMA Group.