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🌍 European flex market grows despite supply challenges
Jesse Derkx shared CBRE’s H2 2024 report. It highlights a 17.5% rise in operator take-up for Expand 👇 flexible office spaces compared to H1 2023, with London, Paris, Madrid, and Barcelona driving demand. Despite this growth, the flex market’s expansion rate has slowed, with penetration now at 2.45% of the total office market, reflecting a gap between demand and supply.
CBRE also introduced the FOMO (Finder of Market Opportunities) tool to help operators pinpoint high-demand areas and guide investment. Management agreements continue to play a key role in expanding flex offerings, enabling operators and landlords to collaborate for mutual benefit.
This new FOMO tool is a great resource for those building owners that are afraid of another type of FOMO (fear of missing out) when it comes to positioning their assets for flex.
💬 Discuss this.
🗞 Week 47, 2024
🔗 Direct Link
📈 Data
⏱ 12 days ago.
🇬🇧 UK flex market expands with demand for premium spaces
CBRE’s UK Flex Market Update 2024 highlights the continued growth and maturity of flexible Expand 👇 workspaces across major UK cities, driven by corporate demand and a shift towards high-quality offerings. Key markets like Manchester and Birmingham are seeing increased take-up in smaller, premium spaces, while London remains strong, with large occupiers benefiting from pre-let opportunities for customized setups.
The trend of “flight to quality” shows that occupiers prioritize well-designed, sustainable environments, often choosing flex spaces over conventional leases. As the market matures, we expect consolidation, with operators and landlords joining forces to create more expansive portfolios. If you’re more interested in this specific topic, we suggest you tune into our latest interview with Phil Kirschner on the TWIC Podcast.
💬 Discuss this.
🗞 Week 45, 2024
🔗 Direct Link
📈 Data
⏱ 26 days ago.
🇬🇧 H1 results from Manchester highlight flex space growth
Joe Rigby shared CBRE’s H1 Manchester highlights. It’s a lot of office CRE stuff, until slide 7. Expand 👇 That’s where we get their Q2 Flexible Office Roundtable data. In it we see that Manchester has 1M sqft of flex space and that number is growing (actually 2 of their 3 largest deals were into flex spaces).
They also report that regional landlords are continuing to invest in flex offerings, and that demand for serviced space has continued to rise, with flexibility being a valued commodity.
💬 Discuss this.
🗞 Week 32, 2024
🔗 Direct Link
📈 Data
⏱ 117 days ago.
🌍 Market report shows less than 4% growth in European flex supply
Billy Hodges shares the latest European market report from CBRE Flex.
"The amount of flex space Expand 👇 across Europe grew by just under 4% in 2023, with around 300,000 sqm of flex stock added to the market. This leaves the flex market steady in relation to the traditional office market at around 2.5% of total European office stock"
Key predictions included that back-to-office mandates may drive more demand to flex spaces, that they’re expecting more core-flex deals to be delivered in 2024, and we could see new demand for managed turnkey office solutions.
💬 Discuss this.
🗞 Week 14, 2024
🔗 Direct Link
📈 Data
⏱ 243 days ago.
⭐️ Has flex become a two-tier system?
Daniel White from CBRE makes the case that the flex office sector has become a two-tier market. Expand 👇 Using data from their recent Flex Market Update, it’s noted that higher-prices spaces in London are sitting at 85-100% occupancy, where ‘no-fills’ spaces are seeing 35-55% vacancies.
It’s an interesting way to look at it, but I believe that there’s going to be more than 2 tiers, with flex space ratings more akin to the "star system" for hotels, than the "Michelin star" system for restaurants.
💬 Discuss this.
🗞 Week 09, 2024
🔗 Direct Link
📰 News & Views
⏱ 279 days ago.

 

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