UK Serviced Offices Market Report 2023
The widespread adoption of hybrid working models continues to fuel demand for flexible workspaces.
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- Key issues covered in this Report
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Executive Summary
- Opportunities for the Serviced Offices Market
- Market Dynamics and Outlook
- Graph 1: number of serviced offices and forecast, 2019-28
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Market Dynamics
- Market Size
- Graph 2: flexible office operator take-up, 2016-22
- Market Forecast
- Market Trends
- Macro-Economic Factors
- Graph 3: real GDP first quarterly estimates, 2022-23
- Graph 4: services output, month-on-month percentage change, 2022-23
- Market Drivers
- Graph 5: new companies incorporated, 2015-23
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Competitive Landscape
- Industry Structure
- Graph 6: key serviced office providers, by number of locations, 2023
- Competitive Strategies
- Company Profiles
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Appendix
- Supplementary Data
- Report Scope and Definitions
- Methodology
The UK Serviced Offices Market Report identifies the opportunities and challenges arising from the cost-of-living crisis, competitive strategies by key players and future developments in the serviced office market. This report covers the UK serviced office market size, market forecast, market segmentation and serviced office market trends.
Key Areas Covered in this Report
- Analysis of the size of the market and forecast for the next five years.
- How operators should respond to evolving occupier expectations.
- Key market trends and drivers.
- Key industry players and competitive strategies.
Current Landscape of the UK Serviced Office Market
The stagnating economy coupled with inflationary pressures pose a key challenge to operators. Some occupiers will likely reduce their office space requirements, while rising operating costs continue to squeeze margins. Operators need to find a balance between keeping rates affordable for occupiers and addressing higher operating costs.
- UK serviced office market size: The UK supply of serviced offices has shown steady growth over the last five years in line with growing demand, and the number of serviced offices is forecast to reach over 5,000 by 2026.
Opportunities for the Serviced Offices Market
Serviced office providers will continue to benefit from the move to hybrid work models. There is a greater focus from flexible office providers to prioritise sustainability within their spaces, not just covering the basics such as recycling but also looking at energy sources and meeting criteria from sustainability-focused certifications, such as BREEAM and WELL. Operators need to be agile to match evolving business needs to remain relevant and gain a competitive edge.
This is just an example of what our full report contains, purchase our full report to learn more about the UK Serviced Offices Market.
More About this Report
Mintel’s UK Serviced Offices also contains information on the industry structure, and provides company profiles for key industry players, including Bizspace, Bruntwood, IWG, and more.
Expert Analysis from a B2B Specialist
This report, written by Claudia Preedy, a leading analyst in the B2B sector, delivers in-depth commentary and analysis to highlight current trends in the UK serviced office market and add expert context to the numbers.
The widespread adoption of hybrid working models continues to fuel demand for flexible workspaces.
Claudia Preedy
Senior B2B Analyst
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