Flexible office space experiencing dynamic growth

Covid-19 pandemic has changed a lot of things about our daily lives, also in the office sector, and thus has significantly affected tenant preferences. Many tenants have made or are considering a decision to move some of their branches or even headquarters to flexible spaces. The main reasons for the growing interest in flex spaces include the possibility of enlarging or reducing the space, no long-term commitments, and no need for investment outlays.

According to the analysis by experts from Mindspace, a global operator of boutique, flexible workspaces, during the pandemic many companies have started considering flex spaces as an alternative to traditional offices. Flexibility has gained importance for both employers and their employees. Although working from home has proved to be possible not only on a temporary basis, the natural challenges of working from home encourage employees to return to offices—but offices offering much more than before. This is why flex spaces are constantly growing in importance.

As it turns out, the lease of flexible workspaces can potentially save companies up to 60 percent in costs. Of course, the amounts depend on different parameters. However, what never changes is that companies deciding to lease flex spaces share them with others in a way. The savings result from sharing conference rooms, kitchens, hallways and bathrooms, and from much lower cleaning, maintenance, internet and insurance costs. There is also no need to buy furniture or office equipment. The Mindspace algorithm shows e.g. savings of about $244,000 for a company of 25 people when choosing a flexible office for three years in San Francisco.

(WBJ)