Flex offices to comprise 20% of London market by 2030

Flexible workspace is set to account for one-fifth of the London office market by 2030, according to new forecasts from global property advisor CBRE.

Currently representing 12% of London’s office footprint, flex space is expected to grow to around 50 million sq ft over the next five years. CBRE attributes the projected expansion to continued occupier demand for lease flexibility and greater participation from landlords in the sector.

As part of its analysis, CBRE has introduced the concept of a "shadow flex market" to capture traditional office space that, while not formally branded as flexible, is available with negotiable lease terms. This segment, alongside other flex categories, is anticipated to see significant growth.

Landlord-operated flexible space - referred to by CBRE as "Brandlord" offerings—is forecast to triple in size, reaching 3 million sq ft by 2030. Managed flexible space, where operators deliver fully serviced, self-contained offices on short-term leases, is expected to expand by 70% to reach 12 million sq ft.

Michael Glynn, Head of UK Flex at CBRE, said the outlook reflects growing occupier expectations: "We are confident that the market will continue to expand due to the sustained and increasing demand for flexibility from occupiers. Defining the flex market, while challenging, is crucial for accurately assessing the opportunities within Central London."

The projections underline the shift in leasing models as occupiers seek adaptable space that can respond to changing business needs, with both developers and investors increasingly incorporating flex options into their portfolios.