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Unless you’ve been living under a rock (which is quite tempting at the moment), you’ll have heard the B-word being bandied about not just a bit, but left, right and centre.
The fact that you can’t turn on the radio or TV or even check the BBC News website on your way to work without bearing witness to it at least once is testament to its unnerving ability to sneak into every corner and crevice. It’s the word on everyone’s lips, and to say it didn’t even exist two or three years ago, it really has done the rounds.
Which is why we’re really sorry to bring it up again.
There, we said it. Don’t worry, we’re not going bang on about the Irish backstop or how to pronounce the word ‘negotiation’ properly. We’re just going to explain its effect on the serviced office and coworking industry.
Brexit will bolster coworking’s popularity
In uncertain political and economic times, businesses crave flexibility. Why would you want to commit to a five-year lease when you can’t even predict next year’s profit margin? In place of traditional leases, more and more companies will seek solace in serviced offices where they can scale up or down within the space at short notice.
According to research by Cushman & Wakefield, in Central London, more than a fifth of office space – 2.5 million sq ft – was leased to flexible workspace operators in 2017. That’s 190% more than previous year. We don’t have the exacts stats, but we’d guess last year’s figures were even higher.
As the demand for flexibility increases, flexible workspace operators are expanding – including Halkin. We recently announced the launch of 13 Hanover Square, a grade A office space for clients who require executive space in the heart of Mayfair, and we’ve got more in the pipeline (watch this space).
13 Hanover Square is a flexible solution for businesses who want West End presence without the hefty price tag and long-term commitment.
Coworking spaces will be better than ever before
Ten, or even five years ago, serviced offices left a lot to be desired. They were fairly functional, but for the most part designs were uninspirational and the standard of service mediocre. Nowadays, the bar is high, and operators can’t get away with poor service because their members will just go elsewhere.
At Halkin, we focus on enabling our members to be as productive as they can be, without sacrificing their wellbeing. We do this by channeling our efforts into design details, from ergonomic furniture to art on the walls, and by making each location as inclusive as possible.
We’ve partnered with Anemoi to add colour and creativity to our workspaces.
So how do we go the extra mile? Alongside quality workspace and support from a team of amazing community managers, we offer catering, IT infrastructure, bespoke fit-out, events – even yoga and fitness classes. And we’ll keep adding to that list as we continue to grow.
Illustration by Azzurra Visaggio.
Everyone will want a piece of the pie
The commercial property industry has realised that coworking is here to stay. Property giants are getting in on the action (including CBRE who has launched its own coworking division), and smaller scale landlords and property companies are creating their own brands or partnering with existing ones.
This means more competitive pricing for businesses renting space – hurrah!
Flexible workspaces on the edge of the City and Greater London have always been reasonably priced, which is why people are often shocked to find out how inexpensive coworking memberships at our Central London locations start at just £350 per month.
We like to think we can put a positive spin on anything, including the B-word!
Are you looking for business stability amid the storm of Brexit?
Give Halkin a call on +44 (0)20 3196 5777
If you enjoyed this article, you might like A Coworking Membership Is Like Having Your Cake …and Eating It.