A new report from Cushman & Wakefield has found that demand for flexible workspace across the world saw record growth in 2017. 

A key trend in the Dublin office market in 2017 was the increase in demand for co-working or serviced office accommodation. The sector accounted for 8% of office leasing activity in Dublin’s central business district in 2017. This compares to just 0.7% of leases in 2016.

Cushman & Wakefield say 2018 will see further expansion by the sector as a considerable amount of space is currently reserved or signed to occupiers such as WeWork, Regus, The Office Group and Iconic Offices.

Cushman & Wakefield predicts that in the future, every large multi-let building will have a proportion allocated to flexible workspace as landowners look to take advantage of growing demand and meet the needs of potential occupiers. 

Commenting on the research, Report author Elaine Rossall, a Partner in Cushman & Wakefield’s EMEA Research & Insight team, said, "Flexible workspaces are now a vitally important part of the European economy, and an increasingly familiar presence in our cities. The popularity of co-working has seen demand continue to grow exponentially across the continent. Amsterdam is a great example as it has one of the highest proportions of independent workers in the EU, with an entrepreneurial and creative culture that is nurtured by a flexible workplace."

She added, "Co-working not only offers flexibility and room to grow, but can also improve the employee experience, revitalise corporate culture, and minimise companies’ exposure to long-term leases. One of the additional key drivers of the market will be accounting changes that make shorter-term leases of flexible space more attractive to larger businesses."

Source: www.businessworld.ie