ThisWeekIn Coworking

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πŸ’š Firms announce strategic partnership to spur coworking health leadership
The International WELL Building Institute (the firm behind the WELL building standard and Expand πŸ‘‡ certifications) announced a partnership with The Instant Group to "encompass a range of joint efforts aimed at elevating health, including opportunities to advance innovative solutions to better support people-first spaces for all users of coworking and flexible workspaces".
An interesting announcement in principle, but I’m not sure exactly what kinds of joint efforts this will include. Will keep an eye out and let you know.
πŸ’¬ Discuss this.
πŸ—ž Week 15, 2024
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✊ Impact
⏱ 1 day ago.
πŸ‡¬πŸ‡§ In the UK, larger spaces are seeing higher occupancy
Bobby Sodeiri shares that according to The Instant Group’s recent findings, current occupancy rates Expand πŸ‘‡ throughout the UK are 80% (up from 79% last year).
But what’s interesting is that occupancy rates at spaces over 30k sqft in size are significantly higher than those in spaces under 10k sqft. Nationwide the difference is 89% for over 30k vs 79% for under 10k, whilst in London the numbers are 86% vs 78% for over 30k and under 10k respectively.
In other splurge of percentages, they note that that "58% of landlords expect at least 26% of their portfolio to be flex by 2030".
πŸ’¬ Discuss this.
πŸ—ž Week 13, 2024
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πŸ“ˆ Data
⏱ 15 days ago.

John Wallace from Workbox chatted with Anastacia Anderson from The Instant Group about the Expand πŸ‘‡ commercialization of the flex office industry and why office owners and operators need to ‘speak the same language’ around valuations and raising capital.
πŸ‡¬πŸ‡§ Average London desk rate soars 8.8% from this time last year
The Instant Group share some data around how London’s flex space market is evolving to rising demand Expand πŸ‘‡ and changing landlord positioning.
Even through transacted rates remained pretty stable throughout 2023, coworking spaces did feel downward pressure on their rates. But as of Jan ’24, the "average transacted desk rate" in London rose 8.8% from last year, to Β£514 p/m (with premium spaces seeing prices skyrocket to Β£1,170 p/m). The average occupancy level for flex spaces also jumped from 81% in Q3/23 to 83% in Q1/24, with some areas (like Southwark and the City of London) seeing occupancy top 88%.
Client demand was up 10%, and increasingly looking for larger spaces combining private and open-access spaces. Landlords are also even more onboard, with a majority witnessing an uptick in flex demand and 58% anticipating that over 1/4 of their portfolios would transition to flex format by 2030.
πŸ’¬ Discuss this.
πŸ—ž Week 08, 2024
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πŸ“ˆ Data
⏱ 50 days ago.
♻️ How coworking spaces are aiming to hit their net zero targets
Coworking stakeholders are expected to make significant improvements to their sustainability Expand πŸ‘‡ practices if they’re to meet ambitious net zero targets set out by the U.K. government by 2050.
In this post Lucy McInally shares a summary of The Instant Group’s workshop at GCUC UK last November, looking at how the industry is collectively working towards a greener future.
πŸ’¬ Discuss this.
πŸ—ž Week 07, 2024
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✊ Impact
⏱ 57 days ago.

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