Co-working and flexible office spaces have grown extensively in recent years, becoming a global trend and changing the way people work.
These trends are set to continue into 2019 and Ireland is already harnessing the opportunities associated with flexible working with co-working spaces opening up across the country.
“Serviced office giant WeWork opened two new premises this year, with a further three set to open in 2019,” Georgina Dillon, Team Lead of Workthere at Savills highlights.
“Similarly, Regus opened a new office in Blanchardstown this year and Digital Office Centres are set to open a new site in Swords in Q1 of 2019 – both in line with the increasing demand for space outside of the city centre,” Dillon adds.
The Savills‘ Workthere team expects a further surge in popularity in 2019 and has a number of predictions about how the sector is likely to change.
Flexible office predictions for 2019:
Globalisation
Having a global offering is more important than ever and businesses are increasingly scaling to new markets and territories.
Many UK companies have expanded their presence in Europe, including serviced office provider Us&Co, with American and Asian companies predicted to follow, opening offices in key European cities in the near future.
Niche spaces
Co-working spaces in the UK increasingly seek to create a community of like-minded businesses, with many providers focusing on niche areas such as female only co-working spaces, fashion and retail, food and businesses with a social purpose in order to differentiate themselves.
However, Irish flexible office trends show an ‘open to all’ approach.
Flexible serviced providers in Ireland are keen to disperse the myth of flexible offices being exclusively for start-ups.
Consolidation
There has been a general increase in serviced and flexible office providers in the market meaning that pricing in this area has remained competitive. Savills predicts a rise in consolidation between providers.
A number of existing companies, including the IDA and Bank of Ireland have also decided to offer their own flexible office product to clients, a trend Savills’ anticipates growing in the future as companies seek to compete with the co-working market.