Flex space UK Research | 13


Issue to watch - what about demand?


It is easy to focus on the supply narrative and to assume that the market is saturated but that is because there is limited sight of the demand side. Searches for the term ‘co-working’ acts as a good proxy for demand for space and illustrates the exponential rise in the level of interest for this space.


According to the operators we interviewed, occupancy rates are still high which suggests that demand remains robust. And if demand and supply are in balance, then pricing should also hold up - with most operators stating that desk rates had remained stable.


Who is searching for flex space?


Data from Hubble has given JLL insight into the end users of flex space across London. By analysing searches on the Hubble platform in 2017 and 2018, several trends are evident relating to the geography, business sector, type of space, size of space and pricing.


100


10 20 30 40 50 60 70 80 90


0 2014


What is Hubble? Hubble is London’s largest online platform for flexible office space. Hubble owns the most comprehensive dataset on the flex office market and is an investee company of the JLL Spark Global Venture Fund.


Source: Google 2015 2016 2017 Google searches for 'co working space' 2018 2019 Google searches for ‘co-working space’


Interest over time (100 = peak interest)


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