Global corporates to make more use of flexible co-working space

MORE THAN two thirds of global corporates plan to increase their use of flexible co-working and collaborative space over the next three years, according to research from leading global property consultancy Knight Frank.

Knight Frank’s (Y)OUR SPACE report is based on a survey of senior executives at 120 global companies which collectively employ more than 3.5 million people worldwide. Knight Frank has Yorkshire offices in Leeds, Sheffield and Harrogate.

Eamon Fox, partner and head of office agency for Knight Frank in Leeds, said: “This research underlines that a decade of global economic uncertainty has reshaped how many of the world’s largest companies view workspace.

“Shorter business planning horizons, together with the emergence of new, more agile corporate structures has driven demand for flexible space which enables companies to react to change quickly.

“While co-working and serviced office operators have grown rapidly over the past five years, driven largely by start-ups and the freelance economy, this is only the tip of the iceberg with latent demand from global companies set to emerge over the next three years.”

Mr Fox added: “The recent boom in co-working is indicative of a structural change within commercial real estate whereby companies desire space that is flexible, highly serviced and aligned within the realities of doing business in an age of disruption.”