According to research by estate agents Colliers International, flexible working space in Manchester is predicted to grow twofold over the next few years. By 2022, the report estimates that there will be 61,205 sq. metres of flexible working space for 9,794 Manchester workers.
Flexible offices have spaces equipped with desks, phone lines and broadband that can be used for a few hours, a week or longer. They are especially attractive for freelance workers and young companies who don’t want the commitment of a long-term office lease.
Flexible workspace company WeWork has five Manchester locations. Spaces have offices in Peter House and will occupy the entire 125 Deansgate building, which is under construction.
Manchester reflects the European increase in flexible working which has grown by 135% over the last four years.
Peter Gallagher of Colliers International said:
“The ongoing growth of flexible office space in Manchester is reflective of its expansion across Europe in terms of the number of sites, volume of space and number of operators. The shift towards ‘space as a service’ and not just a commodity is probably going to be the biggest driver of growth in demand for flexible workplace going forward.”
The amount of flexible office space in Manchester is a small proportion of the total office space. Most offices in Manchester are occupied by tenants on traditional long-term contracts. Landlords that want to add flexible office space to their property portfolio often work with joint venture partners to share the risk.