We predict that market uncertainty will remain whist the Government negotiates the UK’s exit from the European Union, with uncertainty translating into some occupiers reviewing their demand for office space and in some instances, putting space and expansion decisions on hold. However, businesses need to remain agile and exploit new opportunities in real time, upsizing or downsizing their space requirements in response to market opportunities, whilst mitigating risk through flexible leasing terms. This applies equally to SMEs, which account for 60% of all private sector employment in the UK, as it does to the large corporate employers.
As a result of current market conditions, we anticipate that co-working and serviced office accommodation demand will increase, driven by the cost effective and flexible space solutions on offer to occupiers.
Over recent years, the central London office market has witnessed a steady growth in the volume of flexible accommodation available to occupiers, matched by significant improvements in the variety and quality of space available. Many of the landmark City towers, including The Shard and The Leadenhall Building, now offer high-end flexible serviced office and co-working solutions. Alternative solutions are readily available at multiple price points throughout London.
Co-working and serviced office solutions offer both investors and occupiers attractive occupier solutions and investment opportunities, to which JLL’s dedicated Central London Service Offices team have a unique insight.
Whether you are an occupier or a landlord, contact the Serviced Office team at JLL to explore how we can help your business grow http://property.jll.co.uk/serviced-offices/locations/london-city.aspx