Majority of UK Businesses Seek New Workspaces

According to NCG's recent research, three-quarters of UK businesses are searching for new workspaces. This study surveyed 1,002 senior decision-makers and found that 70% of businesses use office spaces either full-time (24%) or on a hybrid basis (46%).

‍

Popular Workspace Types

‍

Serviced offices are the most common workspace, used by 37% of businesses. Following this, 36% use hourly or daily rental spaces, 35% use private offices, and 32% use flexible or coworking spaces. Many businesses utilise multiple types of spaces to meet their needs.

‍

Shift Towards Flexible Workspaces

‍

Of the businesses using workspaces, 76% are actively seeking new spaces or planning to do so within the next year. Notably, 59% of businesses are regularly assessing different workspace options to find the best fit.

‍

Decline in Private Office Rentals

‍

Among those using flexible or coworking spaces, nearly half (45%) indicated they are unlikely to rent private offices again. Furthermore, 59% believe flexible workspaces are ideal for their business needs.

‍

Insights from NCG’s CEO

‍

Thomas Proctor, CEO of NCG, emphasises the evolving landscape of workspaces. He notes that while leased and serviced offices remain popular, there is a significant rise in flexible and pay-as-you-go spaces, driven by the shift towards remote working. Proctor highlights the importance of offering dynamic, attractive, and tech-enabled workspaces to meet modern demands and improve tenant retention.

‍

Future-Proofing Property Investment

‍

Landlords and workspace operators must stay agile to cater to the changing demands of modern businesses. By providing desirable and tech-savvy spaces, they can better retain tenants and future-proof their investments in the buy-to-let and property investment sectors.

‍

Fixed Income Investments in the serviced office sector available from £25K with 12%+ returns - Click here to find out more!