Applications to build new offices in the UK falls, as demand for coworking rises

Applications to build new offices in the UK falls, as demand for coworking rises

updated June 28, 2018

The interest and demand in coworking spaces has been increasing over the last number of years. This rise in alternative ways of working, combined with the growing demand for coworking facilities, has led to a drop in applications to build new offices in the UK. The number of new office buildings being built has fallen 56% since 2008, with only 2,300 applications to build new offices approved in 2017 (down from 5,200 in 2007/2008).

The drop in the number of buildings being built has been credited in a large part to the changing work patterns in the UK. Flexible working has decreased the requirement for new office buildings, and technology innovations such as cloud-based working and advancements in coworking spaces, means there is less of a need for employees to have their own dedicated workspace. Numerous studies have indicated that work patters as we now know them will change significantly in the future and with stats like ‘By 2020, 40% of the global workforce will be freelancers, temps, independent contractors, and solopreneurs’, it is no question that the future of coworking is looking very bright.

Liam Brooke, co-founder of Lendy, says: “Modern ways of working mean that offices are no longer as essential as they may have been in the past. Formerly, rising employment figures may have signaled a requirement for more offices. However, there is now less need for offices as employees can, in many cases, work just as effectively from home or shared workspaces.”

Last month, we delved into the details of the annual Deskmag Global Coworking survey, which backed up the rising demand for coworking spaces with some very impressive stats. Take a look at more insights from that survey here.

At WSC, we have identified this emerging trend towards alternative work patterns and are catering to this growing need by building coworking spaces in prime global locations. If you want to get involved with WSC, please get in touch at info@wsc-intl.com for more information.