UK Flex Market Review 2022

KEY FINDINGS

• Contractual occupancy rates have remained above pre-pandemic levels for the third quarter in a row.
• Many businesses – on the hunt for cost reduction - are incorporating regional hubs into their office portfolios, with Manchester and Leeds emerging as key business hotspots.
• London is back and central areas are seeing demand levels return to those seen pre-pandemic, resulting in desk rates starting to rise sharply in the capital.
• Flex is the driving force towards net zero, playing an important role in limiting the impact of offices on the environment and achieving the ambition of net zero buildings.
• Landlords are leading the supply growth as many are incorporating flexible space into their offering to remain competitive.

Increased demand, a wider target audience and changes in occupier expectations are together causing the flexible workspace landscape across the UK to change at a phenomenal rate, creating a time of great opportunity for both providers and occupiers of flexible workspace alike. 

The UK flex market is leading a new era of workspace, with greater choice of product for the occupier. This means that for many companies the move to flex is no longer just a short-term solution, but a long-term business change, which will propel the UK flex industry into a new dimension.

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