The number of new flexible working locations in central London has grown 42% year-on-year, according to new figures.
Flexible office specialists, Office Freedom, said the findings suggest that the growing trend towards flexible workspaces is showing no signs of slowing.
The report also reveals tha thte growth is driving increasingly competitive rates, reducing the costs of all kinds of office spaces within the capital. Over the last two years, office prices in Hammersmith have dropped by 29%, whilst Paddington is 32% cheaper. Rates in the presitigious Knightsbridge, though still the highest in London, have fallen by 38% beween 2014 and 2018.
Richard Smith, CEO of Office Freedom, said: "The increase in availability of flexible working spaces from new operators and attractive terms have maintained pressure on workstation rates. Whilst areas such as Mayfair and Knightsbridge continue to demand the highest average workstation rate at nearly £900, rates can be as low as just £328 in east London.
"Flexible workspaces are booming and we are seeing more and more large corporates, such as Amazon, Facebook and Microsoft embracing the benefits that flexible workspaces bring. Savvy businesses, large and small, can easily look at the average workstation rates and see where they can make substantial savings."
The changing structure and dynamics of office life has seen workspaces become more fleid and adaptable environments. As part of this change, flexible workspaces are rising in popularity, providing fully-equipped offices ready for immediate use. With increasing demand and decreasing costs, Office Freedom believes that 30% of corporate real estate witll be flexible workspace by 2030.
