Flex space UK Research | 27 Glasgow Market overview


Glasgow’s flexible office market is in its early growth stages, relative to London, Birmingham and Manchester. JLL estimates that the sector occupies 1.9% of the city’s total built stock. The majority of Glasgow’s flexible workspace is traditional serviced office space run by national operators, with a smaller share operated by regional providers Clockwise and Nexus.


Flex workspace take-up reached a recent peak in 2018 with 73,000 sq ft transacted in three deals. The bulk of which saw Regus expand its presence to two further locations at 1 West Regent Street and 100 West George Street. Glasgow’s largest flexible workspace is operated by Centrum offering private offices, who opened a 45,000 sq ft space at 38 Queen Street in 2016. Looking forward, we expect Glasgow’s flex workspace stock to continue to expand at a modest rate, supported by ongoing expansionary requirements, primarily from national operators.


Flex take-up, 2014-18 80


60 Bizspace 40 20 0 2014 Source: JLL 2015 2016  Glasgow flex take-up 1Relates to office-based proxy sectors 2017 2018


Orega Regus


Source: JLL Demographics (Primary Urban Area)


Population 1.3 million


Numbers employed in technology


(Primary Urban Area) 22,400 Self employed1 (Primary Urban Area) 16,700


Key flex transactions 2017-2019 Operator


Regus Address


1 West Regent Street


The Pentagon Centre, 36


Washington Street 9 George Square


100 West George Street


Size, sq ft 30,933


24,854


21,929 19,686


Largest operators Operator


Regus


Centrum Clockwise Spaces


Bizspace Source: JLL


Flex market


Flex office stock 276,000 sq ft


Average flex operator size


25,150 sq ft


Flex share of office stock


1.9%


Space occupied, sq ft No. of locations 82,619 45,000 36,500 30,000 24,854


3 1 1 1 1


Sq ſt thousands


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