Flex space UK Research | 12


That’s not to say that London will not see further growth. Without exception those we interviewed were all looking to expand their footprint in the capital. In the short term, the pace of growth may slow due to the supply dynamics in Central London. Added to this, as some of the bigger landlords are now setting up their own operations, they will be less willing to let to other operators. British Land, HB Reavis and GPE are examples of companies that are seeking not to let space directly to other flex space providers.


“ We have to take a wider view, we are not so reliant on making every single site profitable... but others don’t have that luxury.” Regional flex operator


Growth in flex stock 2018-2023 (as proportion of the total office stock)


1.9%


4.3% Glasgow Edinburgh 1.8% 3.7%


2018 2023


3.8% Leeds Manchester 3.5% 5.4% Birmingham 4.5% 6.9% Cardiff Bristol 2.5% 5.4% 2.4% 4.7% Source: JLL Central London


6.7%


6.3%


10.8%


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