Office space evolves to meet new occupier requirements
Serviced offices and co-working environments are not new concepts but have taken on a new lease of life in this age of technology and innovative ways of working and using office space.
A recent report from Cushman & Wakefield found substantial growth in the amount of office space in central London taken by serviced office and co-working providers; according to the report, such occupiers now account for the largest share of office space leased, the first time this has happened. In H1 2017, serviced office or co-working providers took 82,148 square metres, or 18.4 percent, of the 445,935 square metres of office space leased in central London.
This H1 2017 total is more than serviced office and co-working providers accounted for in the whole of 2016 (79,263 square metres) and is just short of the sector’s average annual take-up between 2012 and 2016 (84,446 square metres). It seems certain, Cushman & Wakefield maintains, that serviced office and co-working provi