Coworking & Managed Offices

2015 saw 50% of the workforce become millennials, and they use business space differently, preferring coworking spaces as spaces from which to work.

INTRO//

In the past 5 years coworking has gone from being something done in libraries into a fully fledged business, with its collaborative ethics being demanded by everyone in the workplace from graduates to financial organisations, seeking to attract new talent. DTZ detailed from a macro perspective how it is starting to shape the industry in 2014.

Based at the core of coworking is the notion of discovering something new in the workspace. We have moved out of the times of offices being like factories but with computers and ties as opposed to aprons and tools. We have moved into an era where due to the rapid rise in technology making everyone (and soon everything) seamlessly connected that we’re ephemeral and international people. Rather than looking at business space as achieving ‘x’ per sq ft through employees performing functions we’re now looking at it being used in a way that Donald Rumsfeld made infamous – to create “the known unknowns”.

The purpose of business space in the 21st century is to create new innovations, ideas, and new business models – therefore our business space needs to reflect this. Coworking has been the physical embodiment of this trend in recent years. Highly mobile, intelligent and technology empowered business people in all walks of life seek coworking space to meet, interact, learn and create the “known unknowns”. They achieve this by working in an environment that brings new ideas, people, experiences and viewpoints everyday. From Edinburgh to San Francisco via Beijing, coworking is strongly becoming a way for businesses and people to work.

Coworking spaces do not take up the full area of the market and now that funding is more widely available for small companies, they’re forming quicker. Therefore demand for 3-10 person offices is thriving, however these workers want to be in the coworking environment so that they’re close to new ideas, energy, and collaboration. Therefore when VSM and it’s workspace partners look at solutions, we always consider how to best blend the demand of desk space and small office space.

Landlords should not be concerned of people and businesses edging away from traditional leases, in contradiction they should be excited. On a simple numbers basis coworkers and managed offices pay 2-3 times the open market sq ft value for the luxury. Careful curation of spaces can yield a higher revenue return for landlords with suitable space in city centres.

OFFER//

At VSM we work with landlords who have suitable city centre buildings/spaces who are interested in exploring new income streams whilst retaining real time control over their properties with little capital investment. Ideally VSM look to work with a minimum 15,000 sqft in the major cities of the UK. Based on a minimum term of 18 months to 2 years landlords can expect to see returns above market rate after fees with VSM as operators of the space in question.

These types of spaces typically work well in multi-tenanted buildings where landlords have ‘left-over’ space not tied up to long leases or with the flexibility from any lender to pursue such a project.

CONTACT//

Josh Artus is the workspace curator for VSM and is also a director of THECUBE, with offices in New York and London.

Get In Touch

Please feel free to pick up the phone and call to speak directly with one of the partners or with the senior management team. Our team are split between the following offices.

Tel: 01908 660552

Head Office

Vacant Space Management Ltd
335 South Row
Milton Keynes
Bucks
MK9 2FY

Tel: 01908 660552

Email: info@vacantspace.co

London Office

Vacant Space Management Ltd
The Cube
Studio 5, 155 Commercial Street
London
E1 6BJ

Tel: 020 3633 0073

Email: info@vacantspace.co