Rubberdesk Publishes Flexible Office Report
Flexible Space Association member Rubberdesk have published their latest report on the UK flexible workspace market.
The Flexible Office Space Report sets out how the market has seen a steady increase in availability over the last two years, driven in part by new workspace openings.
Rubberdesk’s Co-Founder Jim Groves commented: “There’s a great deal of choice in Flex Office space right now for Tenants. With the current subdued prices, businesses can place their teams in premium-quality offices on one-year terms. For most CEO and CFOs, Flex is the perfect office space solution as it balances employee engagement and retention with an uncertain business environment many are facing.”
While Rubberdesk found that desk rates for flexible office space in London fell 1% QoQ to £630 per desk per month in Q4 2022, vacant space climbed 16.8% to 4,166,200 sq. ft. due to new inventory from a number of premium brands.
The report identifies that almost half of the available flexible office space is fitted out with 10 or fewer desks, typically serving businesses of 10 to 20 staff and allowing for the rotation of staff between home and office. This segment offers space across all areas of London at a median rate of £599 per desk. Spaces for larger teams requiring between 50 to 400 desks are priced at ~£700 per desk due to extra amenities and private breakout spaces.
The report also highlights that desk rates in locations outside of London are significantly more affordable. Manchester offers desk rates at £383 per desk, while Cardiff rates are as low as £205 per month. In Scotland, Glasgow offers private office desks at £352, while in Aberdeen and Edinburgh, the rate is £300.
21 April 2023
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