Steven Lydon’s Post

🏢 Flexible Offices: High Demand, Low Supply 📈 Flexible workspaces are becoming the go-to for businesses, with demand soaring as companies embrace hybrid models. Knight Frank reports three-quarters of landlords and operators see larger firms leasing more space, while businesses under 10,000 sq ft prefer flexible setups for their simplicity and cost-efficiency. But there’s a catch: prime flexible office spaces are scarce, driving prices up. The good news? Developers are stepping up, with major players like GPE investing heavily to meet demand. Takeaway: Act fast to secure the right space—competition is fierce! What’s your take? Are flexible offices here to stay? https://lnkd.in/e3E-_AFZ #FlexibleWorkspace #HybridWork #OfficeTrends #londonoffices Tom Walsh Francesca Cooper-Isow Oliver Levesley Steven Lydon Richard Proctor James Nicholson

🚨 Looking for a new office in 2024/2025 in Manchester?🚨 👉 Here's why you should consider flex offices as well as leased offices... 📈 Get ahead of the curve now to extract the most value from your office search and find out why flexible workspaces should be considered alongside leased office space when conducting your office search. Manchester businesses in leasehold offices are becoming more familiar with the flexible office market with huge corporates in Manchester even jumping ship in to flexible workspaces of late however certain businesses rule it out as they don't understand how far the market has matured in such a short space of time. Manchester has seen J.P. Morgan, HSBC, Grant Thornton UK LLP and other big players move in to flexible workspaces across the city. Everyone from start ups, scale ups, SME's to enterprise firms are now actively exploring the flex market to understand the opportunity in more detail. The top flex operators instil confidence from an amenity, digital connectivity, sustainability, DEI, privacy, cleanliness and high customer service level perspective. There is well in excess of 200,000+ sq ft of new flexible workspace launching in Manchester with this number set to increase significantly and with the lack of new office development pipeline along with pressure on landlords to enhance the specification of their building, we feel a number of flex operators will be a great alternative for landlords as flex workspaces make assets more attractive for the modern occupier of workspace. Flexible may not be the right option for your business but always consider it amongst leased workspace 🤝 Please book in an appointment with myself or one of the Level team following reading the below and understand the latest workspaces across leased and flex 👆 #Manchester #Workspace

While headlines often highlight the struggles in the office real estate market, a deeper dive from ConnectCRE shows a more nuanced picture. Key takeaways reveal that although high-profile corporate downsizing and vacancy rates continue to make news, demand for high-quality office spaces remains steady. Class A offices in vibrant, mixed-use areas are still attracting tenants, especially in cities with a strong tech or creative workforce. The pandemic reshaped what companies and employees want, pushing demand towards amenities like wellness spaces and flexible layouts. Meanwhile, Class B and C offices, which often lack these features, are facing higher vacancy rates. Despite overall challenges, office real estate in well-positioned locations with updated amenities shows resilience, underscoring that not all office assets are experiencing the same difficulties. https://lnkd.in/eh4XQd3v #OfficeMarket #CRE #RealEstate #CommercialProperty #ClassA

A new thought leadership study has been spearheaded by Cushman & Wakefield's Research led by David Smith and Rich Persichetti titled "The Bright Side of Office" which delves into growth opportunities in the urban core. Despite high vacancy and ongoing pandemic-induced shifts in where people work and live, the urban office market is showing some bright spots. The population out-migration trends in large cities that accelerated early during the pandemic are returning to long-term norms. Top-tier office spaces are seeing increased demand with occupiers committing to working in the office as part of their business strategy.  In The Bright Side of Office, Cushman & Wakefield examines office trends in North America and 11 gateway cities. The report covers tenant trends, flight to quality, demand sectors, migration patterns and more. The report can be found here - https://lnkd.in/eukptjYE Key Takeaways - The urban office market faces challenges in 2024, but there are bright spots in activity. - Some of the demographic shifts at the height of the pandemic were temporary, as people still want to live in large, vibrant cities. - Increased remote and hybrid work is shifting occupier demand, and reducing willingness of employees to commute, but much of that impact has already filtered through the system. Portfolio right-sizing will moderate in coming years. - Top-tier office product is very much in demand. There is going to be less new construction delivered, however, opportunities arise for renovated offices and assets slightly further down the value chain. - Occupiers are committed to the office as a part of their business strategy, even if they are offering more employee flexibility than they did five years ago. The office is still a central part of the economy and a driver of productivity, career development, culture and innovation. - Many young employees want to be in the office because it is a place for connection and personal development. To appeal to workers of all ages, the office experience should focus on sustainable practices, superior technology and inviting amenities. - While the office job market has been lagging lately, job growth will return. As a result, occupiers will need to provide space commensurate with their expanding headcounts. #realestate #thebrightsideofoffice #research

There is no doubt that office leasing volumes are trending lower now than before the pandemic. 💉 However, I'm not sure an increase in demand for hybrid working spaces necessarily equates to companies abandoning traditional offices. 👩💼 CoStar UK analysis shows that over the last 12 months, businesses have signed leases for 30 million square feet of office space across the UK. It is definitely below the 60 million square feet of leases signed in 2018, but it is still really rather a lot..... #offices #cre #leasing #hybrid

“When it comes to office buildings, there are several factors that are now considered essential in the eyes of potential tenants. Attitudes toward space provision are adapting to offer a more human experience at work. Office occupiers are voting with their feet for better amenitized, more sustainable office buildings to deliver a higher-quality workspace for employees and engage with them. Location has always been important, but it is now more so than ever. A location that is well connected and is in a buzzy, cultural hub is one way that landlords can future-proof an office building, especially in the context of smaller footprints. In addition to adapting workspace requirements to changing work patterns, companies are putting greater focus on the environmental credentials of the offices they occupy.” https://lnkd.in/gNzfsVQN

As cities grapple with declining office occupancy rates, the challenge is clear: adapt or risk further economic stagnation. The solution? A collaborative approach between public and private sectors to repurpose underutilized office spaces into thriving, sustainable hubs. Key Takeaways - Office Distress and Hybrid Work: Hybrid work has drastically reduced demand for office spaces, particularly Class B and C buildings. With more employees working remotely, cities are seeing central business districts (CBDs) struggle, affecting not only landlords but also local economies reliant on office-based foot traffic. - Flight to Quality and Sustainability: Tenants are now prioritizing Class A properties with high sustainability standards, leaving older, less efficient buildings behind. The heavy carbon footprint of many older offices puts them at risk of obsolescence, further driving the need for sustainable upgrades or conversions. - Opportunity for Revitalization through Conversion: Cities and real estate developers must work together to convert outdated office spaces into more in-demand uses, such as residential or life sciences facilities. Offering incentives, streamlining zoning regulations, and supporting fast-track programs can accelerate these conversions and restore economic vitality to urban centers. To revive downtown business districts, cities and developers must act now. By fostering public-private partnerships and embracing strategic conversions, we can turn office distress into a powerful opportunity for urban revitalization. #OfficeRevitalization #CRETrends #HybridWork #Sustainability #UrbanDevelopment #RealEstateInnovation #PublicPrivatePartnerships

Over the past four years, we've seen a significant impact of hybrid work environments on the office market. The key takeaway? Offices that offer engaging and dynamic experiences are successfully drawing employees back from their home offices.#commercialrealestate #HybridWork #WorkplaceDesign #OfficeMarket #CRE #FutureOfWork #EmployeeEngagement #cre #sior https://lnkd.in/g_vx_ySw

More companies are considering switching to a hotel-desk model as they wrestle with hybrid work trends that lead to near-empty offices, wasted space and costly leases. Here are tips on how to successfully deploy and work within the “hoteling” concept, which eliminates permanent desks in favor of flexible, shared spaces.

Discover how companies are embracing a new era of workplace flexibility and service, shifting away from traditional office leases to elevate team connectivity and support. Dive into the insights shared by Bisnow on the transformative power of coworking. Explore how The Hive coworking can unleash similar benefits for your business today! the Hive