Office landlords in the UK are going to significantly increase the amount of square footage in their builds that is dedicated to flexible workspace. By 2030, over half of the total square footage of office space will be dedicated to flexible or coworking space, which is a significant increase from the current 36%.
One in ten landlords predicts their portfolio will consist almost entirely (91-100%) of flexible or coworking space by 2030, up from the 3% of landlords that currently fall into this bracket.
To meet this surging market demand and address tenant needs, over half (52%) of landlords think that their office buildings will need to be redesigned or retrofitted.
This comes as nearly two-thirds (59%) of landlords stated that converting office space into flexible workspaces is a key part of their strategy for keeping up with market demands.