Explore flex workspace


Can you reduce costs by introducing flexible workspace into your portfolio?

Considerations

  • Have you explored flexible workspace as an alternative to long term leases?
  • Would you like more certainty around your total occupancy costs?
  • Have you reviewed your current portfolio to determine the right level of agility to meet your business needs?

Insight

The agile and flexible working agenda will be significantly accelerated by COVID-19 as occupiers seek the ability to mitigate risk and achieve as much cost certainty as possible. An increased number of staff working remotely emphasises the need to carefully plan occupational strategies to provide a flexible footprint which allows for a swift response to both business and macro socioeconomic factors.

The sector extends way beyond ‘co-working’ as businesses of all sizes draw upon their full real estate needs as a service they pay for from an operator rather than traditional leasing mechanisms – this can be a few desks up to corporate HQ.

Navigating the flexible workspace arena can be complicated and the approach is not right for every business. With over 6,000 active operators across the UK it is important to take advice about the type of agreements entered into and that the agreement effectively aligns with all aspects of business planning, budget and with a diverse spectrum of offers that the operator profile effectively reflects the personality of the occupier.

A portfolio that includes flexible workspace has numerous benefits including:

  • Flexibility and total cost certainty.
  • Ability to rapidly react to changes in headcount.
  • Ability to service specific projects or initiatives quickly and in a time efficient way.
  • A lower cost hub and spoke model – access new territories and markets without having to make long term lease commitments.
  • Use meeting, collaboration, presentation or wellness space as it is needed rather than factoring into occupational footprint.
  • Potential to reduce costs associated with facilities management, business rates, service charges, dilapidations and other occupational costs.

Our national dedicated office advisory specialists have a deep understanding of the flexible workspace market place across the UK and can provide a bespoke service to ensure that the right solution is identified in the right location and on the best possible terms with total transparency. Through monitoring and analysing metrics within the sector we are able to effectively financially benchmark against the traditional leasing model to agree the right future occupational strategy.

For more information please contact:

Chris Cheap Principal National Offices Team chris.cheap@avisonyoung.com