An article in the Facilities Management Journal gave a stark warning from O&A Property Consultants, that London is ‘at risk’ of running out of flexible office space by the end of the year.
The article points to the effects of Covid leading to a huge rise in demand for flexible office space, as employers rethink their workspace needs and worry about being left with empty, expensive real estate in the face of ongoing and unexpected future lockdowns.
The increased demand is driving up the prices of flexible space, with a prediction that the average cost of a London desk could rise by as much as 40 per cent, to around £700 per desk per month.