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The corporate world is driving a profound transformation in the flexible office space sector, according to a new report ‘Flexpansion‘ by global property management and investment firm, Colliers.
Major companies like HSBC, KPMG, and Microsoft are embracing flexible office solutions, catalysing a shift from coworking spaces to corporate grade facilities. This evolution is reshaping the landscape across EMEA, where flexible office stock grew by 161,303 sqm in 2023, despite economic challenges.
James Walton, Head of Colliers SmartFlex, explained: “The flex sector has evolved from being a haven for startups and project space into a critical component of corporate real estate strategy. Corporates are seeking flexible, scalable solutions that provide agility and align with hybrid working trends. This revolution is not just about space; it’s about creating environments that inspire productivity while offering the flexibility modern businesses need.”
Key corporate demand has led to a surge in the adoption of managed spaces, which offer greater customisation and privacy than traditional coworking setups. Corporates are increasingly integrating flexible office spaces into their operations to simplify office delivery, provide attractive work environments, and access state-of-the-art amenities. This demand has led to flex spaces becoming a standard feature in new developments, with many operators securing leases even before construction.
Additionally, the report highlights a trend of consolidation in the sector, as players like Industrious, IWG and Platform acquire prime spaces vacated by WeWork. Traditional landlords are also entering the flex market, with 231 new landlord-led sites launched since 2020. This reflects a broader shift towards service-oriented real estate, driven by the needs of corporate clients.
In cities like London, Frankfurt, and Amsterdam, the flexspace revolution is well underway. New developments are increasingly incorporating flexible office solutions to meet the demand for hybrid work environments, marking a new era in the office market.
Image by Tung Lam from Pixabay
