Depending on who you ask, London’s office market is either being artificially propped up by flexible office providers or the capital is undergoing an irreversible sea change when it comes to occupier demands.
It is true that serviced offices may have come and gone over the years (see graph, below) but new CBRE figures suggest “flexible London” could now be a permanent fixture as businesses adapt to prolonged insecurity, technological advances and the decline of the traditional institutional lease.
In the first half of 2017, the serviced offices sector accounted for more than 15% of take-up – double the average figure recorded in 2014-16 alone.
