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Cushman & Wakefield
SOHO3Q WILL EXPAND
FROM LESS THAN
1,500
DESKS TODAY TO
OVER
10,000
BY THE END OF THE YEAR
The Flexible Office market is currently growing at an unprecedented
rate. Cushman & Wakefield estimates that flexible office space now
accounts for up to 8% of global office uptake. Instant Offices, the
world’s largest flexible office broker, estimates that in 2014 the
number of Business Centres grew by 12% globally and that nearly 50%
of Business Centre agreements were contracted for 12 months or
more. Similarly, online Coworking magazine Deskmag records global
growth of Coworking spaces at 70%, from approximately 3,400 spaces
in 2013 to 5,780 in 2014. Cushman & Wakefield predicts that there
will be close to 50,000 Coworking spaces by 2018. The world of work
is changing and flexibility is no longer sought by the tech, creative
and media sectors alone, but by a growing pool of large corporate
tenants coming into the Flexible Office market for the first time.
The five key commercial and cultural factors driving this growth
are identified in the following section.
FACTORY BERLIN
HAS PLANS TO EXPAND TO
6
NEW LOCATIONS BY
2016
GROWING MARKET
WeWork, San Francisco, California