The Notebook: Marcus Geddes on what makes a modern office
Today, Marcus Geddes, managing director at Landsec, takes the Notebook pen to talk all about the modern office
Don’t let others fool you, there’s strength in flexible offices
Demand for flexible offices is higher than ever before, but do people really know what ‘flex’ means? A common misconception is that flex is just co-working spaces or shorter lease terms, but it’s so much more – it’s a way to make the most out of a place where work and business gets done.
How to get the most out of the office isn’t a new question for businesses. But changes in ways of working in recent years have caused people to reflect on how workplaces can evolve.
Now that the dust has somewhat settled, London is seeing a clear trend towards design-led, serviced space that offers options to that question.
Whether established brands or startups, businesses are investing in workplaces that enable productivity, collaboration and support their growth whilst attracting talent. Here enters flex.
Providing opportunities to trial something new to best meet these needs, without sacrificing the character and culture within the office, is exactly why customisable options within the flex market continue to thrive.
Applying years of expertise delivering workplaces to newer approaches, like flexible offices, we know that flex done right can be hugely rewarding for both customers and landlords.
More than a desk
With our existing flexible office space almost at capacity, we feel confident flex is very much here to stay and are expanding our flexible office product, Myo.
Quality and location have long been key to successful offices, so, unsurprisingly, flex offerings that provide tailored solutions and amenity in locations with excellent transport infrastructure have fared better than others.
Done properly, flex has the strength to adapt to businesses’ ways of working as they want, and the freedom to make changes to workplaces to support growth.
With amenity considered throughout the design of workplaces including gyms, restaurants terracing and rooftop bars, a successful office is more than space to work. It’s a place that offers engaging options to spend quality time with colleagues and friends outside the 9-5 – a worthy reason to commute.
Our recent research found that most businesses expect that some of their office space will be flexible in the next five years, so we’re confident that flex isn’t going anywhere.
With our operating Myo locations nearing capacity and delivering an enhanced income return, we’re growing our flexible office portfolio four-fold, to over 300,000 sq ft across the city to keep meeting the demand.
Flex models succeed when they offer tailored solutions which can support a range of business needs. Overreliance on small firms and single occupiers isn’t sustainable and it’s a myth that flex only caters to startups early on in their journey.
Myo performs well because it’s equally as attractive to big business looking for overspill space or access to meeting rooms, as it is to growing firms looking to scale their business.