Forty per cent of the UK workforce will be freelancers or 'solopreneurs' by 2020, says new research from the Co-working Market Report. This marks a huge shift from how the workforce has operated in the country up until now.

London, a city that touts itself as a hub for start-up businesses and entrepreneurs, is leading the way in the trend. The Capital is witnessing a wave of new ways of working, with a significant rise in the number of serviced offices in traditional and prime central business locations. Take-up by serviced office providers across Central London in 2014 was 288 per cent up on the long-term average, and 154 per cent up on 2013. Meanwhile, take-up for Q1 2015 alone equalled that of the whole of 2013.

The growth in serviced offices is depicted through a substantial rise in the percentage share of total take-up in Central London, accounting for 8 per cent last year. The West End office market continues to see the arrival of serviced office operators, with take-up to year date marking a 90 per cent increase on the long-term annual average. All major serviced office providers have live requirements in the West End, and are ready to commit as soon as the right space comes along.

Bourne Financial Limited and London Executive Offices Ltd have both taken new space in the last six months, while The Office Group has recently taken an additional 109,454 sq ft of space across four buildings, including 10 Bloomsbury Way and 2 Stephen Street in Angel.

Serviced offices offer the flexibility new start-ups need in order to grow. Changing times means these companies are becoming prevalent occupiers that landlords and agents need to target.

Further information

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