Crunch time is fast approaching for co-working providers as traditional landlords adjust their models to compete with emerging disruptors, commercial real estate analysts observe.
While co-working providers cleverly capitalised on the rise of freelancing and the workforce’s growing desire for adaptable, stimulating environments filled with services galore, the number of existing landlords now going down similar paths is shifting the goalposts yet again.
Eventually, flexibility will be the top priority of prospective tenants choosing their next commercial space.
Flexibility is key
Knight Frank’s recent Your Space report states 60% of global corporates plan to increase utilisation of co-working and flexible workspace over the next three years.
These global corporates are increasingly looking for landlords to provide this type of space in addition to their core occupancy footprint.
It’s time for co- working operators to step up and differentiate themselves for their particular target market … no longer will coworking and agile flex be able to deliver the broad blanket approach to all, but rather pinpoint who they want to service; and curate a service specifically for them.