Structural change

Demands for better service and corporate agility are changing the office landscape, says Brandon Hollihan, the co-founder of Castleforge Partners, which owns Clockwise, a provider of flexible office space.

As an operator of both flexible office space and long-term leases, Castleforge has had a bird’s-eye view of changing demand. It has found that there is resilient demand for service, not just space. This is the case across many locations in the UK, including secondary cities such as Leeds, Exeter and Southampton, which combine supply shortfalls with a steady increase in younger office workers.

Castleforge first started to recognise this distinction as a real driver for demand back in 2016, when it launched two buildings in Glasgow. One was a fully refurbished office block, where it offered traditional leases — a blank, open space for a tenant to put their own mark on, with the usual expectation that they give rent guarantees, and take responsibility both for fit