How Do I Create A Coworking Space?

24-10-2019

Coworking spaces have recently seen an increase in popularity in the UK office market, with the number of flexible workspace centres in London increasing by 9% from last year (1). The creative sector was the first industry to embrace this new way of working but it has now spread across a wide range of industries. So, what really is a coworking space?

To put it simply, a true coworking space involves a shared environment, most commonly an office, through which individuals not engaged by the same company work side-by-side, and which is charged on a monthly membership basis. (2). Nonetheless, coworking spaces can also involve renting a whole floor, whereby you have private access to offices and can use a communal area with other companies. Flexible spaces allow for new businesses to expand and save money for a long-term property and are occupied by likeminded, business focused individuals which create a sense of belonging.  Coworking spaces can offer a variety of facilities such as a games room, storage and meeting rooms at the fraction of the price of traditional office rent. However, despite the coworking model becoming more prevalent in recent years, it does have its drawbacks as a larger space can become noisy and quieter working offices are sought after. However, coworking offers more flexibility than a fixed, serviced office where recreating a layout or catering for more staff members may not be feasible.

At Office Profile, we have designed and built a number of coworking environments for previous clients. We understand the importance of Return On Investment (ROI) whereby both the tenant and landlord prosper because the client has access to office facilities without having to buy the furniture and equipment, whilst the landlord can rent the space in the knowledge that it has been designed to an accurate and cost effective floor plan. For example, for Techspace we created multiple hybrid office spaces, incorporating a mix of private and open, flexible working spaces. We also completed refurbishments for Voom, Squawka and Techstars who rent the available floor spaces at the Techspace sites. For example, at Techspace Luke Street, there are casual meeting rooms with bean bags and sofas which offer a relaxed, homely environment that is perfect for networking and includes home comforts whilst avoiding the isolation of working alone. Equally, we fitted bench seating and desks for a busier, industrial feel for employees who prefer a café style, collaborative working environment.

Similarly, at Techspace’s Scrutton Street site in Shoreditch, the fast-paced feel of London is replicated within the versatile and collaborative nature of hot desking, whereby multiple workers use a single workstation at different times. Ultimately, this results in many benefits such as cost reductions, flexible working methods and can be designed to suit specific staff usage and design. Equally, if you are already in a fixed premise, implementing flexible working styles are cost effective and efficient if you are struggling for space. This working style has even been implemented in our own Head Office because it efficiently frees up office space, offers flexibility for staff members who are based out of the office, and is a forward way of working.

Overall, for future office designs in London, coworking spaces are forecasted to increase in numbers due to a shift in working styles and requirements from the new generation of Gen Z workforces. Equally, the nature of coworking has already been adopted in big global markets such as China, Singapore and India. Therefore, the promising outlook for coworking spaces offers property on flexible terms, more affordable prices and a variety of work facilities to suit individual needs.

We have a vast experience in completing the design and refurbishment of flexible, functional workspaces that cater for all different methods of working. If you would like to see how Office Profile could help reinvent your office space, contact us today by clicking here!

Sources:

The Instant Group-UK Market Summary- The evolution of flexible workspace (p.8)