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Office Space in Town's Management Service for the Flexible Space Future

Office Space in Town's Management Service for the Flexible Space Future
07 October 2020 | Updated 26 January 2021

Leading serviced office and flexible workspace provider Office Space in Town launched its new flexible workspace management service for landlords looking to pivot their portfolio towards the growing flexible workspace sector following COVID-19.

According to the EMEA Occupier Survey In 2018, 45 per cent of businesses expected to have significant use of flexible offices by 2021. Fast forward to 2020 and the pandemic has accelerated this progression. According to a global study of 3,000 workers, most desire the ability to have the option to work from home 1-2 days per week on average. Most are still keen to come back to the office, so employers will be looking to rent spaces on a less than full time basis. JLL think that this will bring an interesting new dynamic to the providing services and facilities that focus on adaptable technology and versatile rooms for differing users.

Management Services

Office Space in Town (OSiT)’s management services will help property owners affected by the coronavirus pandemic and those looking to enter the growing flexible workspace market in order to make the most of their commercial real estate portfolio. Owning its buildings rather that operating on a leasehold model, OSiT brings a unique understanding of how to cultivate asset value through a flexible workspace offering.

Landlords will be able to draw on OSiT’s expertise as one of the UK’s most experienced flexible workspace operators to build a product tailored to meet their needs anywhere in the UK. OSiT will additionally extend its suite of management services to include running existing flexible workspaces that may have previously underperformed.

Commercial property owners have been notably affected by the pandemic, with the average commercial lease length in the UK declining by 10 months in the period between February and June this year, according to property data group Re-Leased. However, the outlook for the flexible workspace sector, which had already grown 50 per cent in the past five years, remains positive as businesses seek greater flexibility from their office space.

Any Period Letting

The launch of OSiT’s new management services follows the successful release of Adjust, OSiT’s new flexible workspace product for businesses looking to build a flexible working strategy following COVID-19, which allows businesses to book and pay for private office space for as little as one day per week. Many providers have already begun offering similar packages. The Venues Collection is a group of eight purpose-built conference and training centres located in central England in out of town locations – in July this year they announced that three of the properties would be available as flexible office space on an hourly, daily, weekly or monthly basis. Joanne Barratt, Managing Director at The Venues Collection said: “As more people work remotely, why should businesses pay for an office that is hardly used? Instead, we are offering businesses easily accessible, flexible and cost-effective spaces.”

Picture: an Office Space in Town social room

Article written by Bailey Sparkes | Published 07 October 2020


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