Baker Stuart’s Insight: London is at the epicentre of the flexible working boom, with The number of new flexible working locations in Central London growing 42% year-on-year, according to a new report by Office Freedom.
The number of new flexible working locations in Central London has grown 42% year-on-year. That’s the main finding in a new report by flexible office specialist, Office Freedom and evidences that the growing trend towards flexible workspaces shows no signs of slowing.
The report also reveals that the growth is driving ever more competitive rates, lowering the cost of all kinds of office spaces within the capital. Over the last two years, office prices in Hammersmith have fallen by 29%, whilst Paddington is 32% cheaper as a direct result of greater flexible space availability. The rates in prestigious Knightsbridge are still amongst the highest in Central London, but have dropped by 38% between 2014 and 2018.
Richard Smith, CEO of Office Freedom comments: “The increase in availability of flexible working spaces from new operators and attractive terms have maintained pressure on workstation rates. Whilst areas such as Mayfair and Knightsbridge continue […]