Managed offices on the rise

The increasingly-popular managed office concept is proving an appealing one to all kinds of occupiers, delegates heard at webinar on the rise of flexible space.

The concept, where an occupier can get fully serviced and flexible offices but can choose the look and finishes and have its own branding, is proving a popular middle ground between serviced and conventional space.

The Evolution of the Office Market, put on by Knight Frank, focussed on flexible space. Delegates heard from four of its professionals.

James Nicholson, partner London office agency, said: “It’s the best of both worlds. Let’s make it simple, flexible and easy to transact like a serviced office but let’s give people the ability to tailor their space, make it their own and run it under their own brand, rather than sitting under the umbrella of an operator – and have that all done for you.

“It’s a fully serviced, fully managed option so all the benefits but it’s your own space with your own name above the door.”

Jack Tomlin, partner, London tenant representation, told the meeting occupiers are demanding more flexibility and it had enabled them to be more cavalier in their decision making.

Amanda Lim, head of flexible office solutions, said demand for flexible space is no longer just about fast-growing tech firms.

She added: “All types of businesses are looking for flexible space. We are seeing a huge range of clients approach us that typically, pre pandemic, wouldn’t have.”

She said those include global law firms, insurance companies and private equity firms, often looking for temporary options before they make longer term commitments.

Toby Pritchard-Davies, partner, London office agency, reported a flight to quality as occupiers seek more amenities and space that represents them well.

He said: “From the viewings we are doing, and from the space currently under offer, it’s key that the predominant part of the market is best in class office space.

“Occupiers are using real estate as a way to retain and attract staff and also to represent who they are as a business.”

Image: Clockwise from top left: James Nicholson, William Matthews (host), Toby Pritchard-Davies, Amanda Lim and Jack Tomlin.

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