Why Corporates are Switching to Flexible Office space
Finance, insurance, and other large corporates are increasingly using coworking and flexible offices to open new markets and provide office space closer to where their employees live.
Coworking redefined
With the rapid growth in the coworking industry, the largest sector to make the switch to coworking is the Finance and Insurance industry. Corporates are ditching the traditional long-term leases of large office space and are enjoying the flexibility of coworking.
According to the CBRE Pacific Coworking Survey, the Finance and Insurance Sector are the largest occupiers of flexible office space accounting for 26% of survey participants.
Deutsche Bank, HSBC, and Bank of America are among some of the big players taking advantage of revolution in the way we work and joining tech players like Google, Amazon and Uber already using Coworking Spaces.
We understand that financial, legal and professional services often need their own private offices where confidential calls can be taken and client anonymity maintained and Serviced Offices in Coworking Spaces offer just that.
Perhaps for industries like these, the term "Coworking" should be refined to refer to:
Serviced Offices that offer privacy, ease of use, flexibility as well as cost effectiveness.
According to the GCUC global coworking report, there are currently 3.1 million coworkers in the world and the number is forecasted to nearly double by 2022. The largest growth is expected in the Asia-Pacific region. This astounding figure makes sense following the entrance of the likes of WeWork and the hundreds of other coworking operators both within the UK and across the globe. By getting a multi-billion dollar valuation, WeWork not only contributed to the disruption of the coworking industry, but raised a lot of awareness of this mode of renting and working.
Why do businesses rent flexibly?
Compared to owning, leasing and subleasing of commercial office space, renting flexibly offers a number of advantages, typically at the expense of a higher monthly rent:
Agile teams need the ability to scale up or down your team size without significant penalties or obligations. For growing businesses this is a big deal and allows them to keep their options open and scale relative to business demand.
Lean teams focus on getting down to business not managing infrastructure. A team without staff to manage facilities means the fit out, maintenance, technology and infrastructure as well as cleaning are all taken care of. Bliss.
Lower up front capital commitment - often with just two months prepaid. Much less than guarantees and three month bonds common with leases.
Licence agreements not leases. Typically less demanding, lower cost and lighter weight than a lease agreement, most operators have their own flavour of agreement. No two agreements or situations are the same, so it's always worth getting advice.
So, whether you're from the legal industry or a digital agency, coworking makes it easy to find office space that suits your businesses needs.
The Best Corporate Offices Available Now
London Office Space
Rubberdesk covers over 8,085,175 sq ft of flexible office space across the UK, with a median monthly office rate of £399 per person and a median monthly desk rate of £260. Here's a look at some of the best corporate offices available today.
4 Person Private Office | 180 Sq. Ft.
5, Level 2, 121 Westminster Bridge Road Waterloo, SE1
5 Person Private Office | 175 Sq. Ft.
189-190 Shoreditch High Street Shoreditch, E1
External Private Office for up to 6 People | 225 Sq. Ft.
120, Holborn Gate, 330 High Holborn Chancery Lane, WC1V
5 Person Private Office | 172 Sq. Ft.
202, 2 Sheraton Street Soho, W1F
The Risborough - Fully Managed Offices
1, 17 Risborough Street Southwark, SE1
3 Person Internal Private Office in London
0.24, 120 Aldersgate Street Farringdon, EC1A
Manchester Office Space
Manchester has over 200 corporate offices available! Located in and around the CBD, there are plenty of options out there to suit you and your businesses needs.
24 Person Private Office in Manchester | 800 Sq. Ft.
64 Jersey Street Manchester, M4
6 Person Office Available | 115 Sq. Ft.
70 Great Ancoats Street Manchester, M4
12 Person Internal Private Office | 500 Sq. Ft.
108, 1 Balloon Street Manchester, M4
Private Office for up to 30 People
2 Hardman Blvd. Dept. XYZ, Spinningfields Manchester, M3
16 Person Private Office | 280 Sq. Ft.
4:16, 4:17, Level 4, Linley House Dickinson Street Manchester, M1
Private Office for up to 12 People
The Express Building 3 George Leigh St Manchester, M4
Leeds Office Space
With around 100 offices available, Brisbane has office space perfect for corporates! With affordable prices, convenient locations, and flexible lease agreements there's guaranteed to be an office for you!
56 Person External Private Office | 1,485 Sq. Ft.
210, 6 Wellington Place Leeds, LS1
12 Person Private Office in Leeds | 455 sq ft
West Village Wellington Street Leeds, LS1
Private Office for up to 8 People | 338 Sq. Ft.
118 North Street Leeds, LS2
14 Person Private Office in Leeds
1 Park Cross Street Leeds, LS1
11 Person Office Available
Levels 15, 16, 17, 18, 67 Albion Street Leeds, LS1
54 Person Private Office in Leeds
55 Saint Paul's Street Leeds, LS1
Glasgow Office Space
24 Person External Private Office | 940 Sq. Ft.
204, 220 Saint Vincent Street Glasgow, G2
Private Office for up to 22 People with Balcony
2 West Regent Street Glasgow, G2
Private Internal Office for up to 16 People | 414 Sq. Ft.
120 Bothwell Street Glasgow, G2
12 Person Private Office
111, Level 1, 9 George Square George Square Glasgow, G2
Private Office for up to 6 People
120 Sydney Street Glasgow, G31
20 Person Office Available | 669 Sq. Ft.
8:01, 8:02, Level 8, 77 Renfrew Street Glasgow, G2
Other Industries
- Corporates
- Digital Media Agencies
- Legal
- Construction
Unsure of which coworking provider to go with?
Here at Rubberdesk, we have some of the best Coworking and Managed Office Operators in the world who list their space. We've been busy collecting all the details about each of them in one place - so you don't have to do any leg work.
Local market experts with you every step of the way.
As specialist brokers in the flexible office market, Rubberdesk is across all the options, offers and availability. We have real time pricing for thousands of spaces listed by hundreds of providers to help find your next office.
It's EASY, FAST and FREE to use Rubberdesk.
Start by telling us what you need.
We'll give you a call back with a bespoke shortlist of options to discuss.
Or give the experts a call +44 (0)800 699 0655
