The way we work, and where we work, is undergoing a period of significant change. With advances in technology and the way in which many businesses now operate, the needs and requirements for office space have evolved massively over the past few years.
Traditionally, when businesses came to setting up a new office, there were only two options available for them – either spend a large amount on a long-term investment or spend money on a monthly basis for less commitment. Companies, no matter their size or specific needs, were stuck in spending large amounts of resources, time and money in finding long-term leases for their office space. In turn, landlords needed to spend a significant amount of money to keep their properties in shape in the hope of attracting new tenants when space became available. It became a long, drawn-out process, causing annoyance for both parties.
In recent years, however, real-estate has given way to a new path in the form of co-working. Whilst the idea of a flexible or shared office space isn’t a new one, it was seen for many years as a way to solve the tension between landlords wanting to sign up long-term leases and the short term commitment desired by tenants.
Co-working spaces offer a stylish and welcoming office space, often right in the heart of a bustling city. Workers are given access to monthly, and often weekly, social events, lectures provided by leaving mentors, as well as a fun and inspirational community of similar people. The spaces are well-maintained and offer stylish comforts in the shape of sofas, bean bags and comfortable chairs and tables. Some also come with independent coffee shops and bars, all included in the space’s monthly hire fees.
Workers are able to focus their attention on their work without the distraction of a busy or dull office, and employee satisfaction and self-development is on the rise. Large companies have been known to move whole teams into a co-working space, benefiting from the employee's ability to interact and collaborate with one another. Companies that provide co-working space profit greatly from the chance of being able to connect and network with other businesses, where traditionally it would take months of formal meetings and social events.
Co-working isn’t solely reserved for companies. Instead of working from coffee shops with bad wifi or a much-too-quiet home office, self-employed workers are able to hire a desk space and enjoy the buzz that comes from working in a co-working space. The ability to chat with other workers can increase productivity levels, as well as giving the chance to network and connect.
The idea of a co-working space is not just about companies benefiting from cheaper real-estate costs, it’s also about an increase in lifestyle and being able to build a working space with a community.
Here at Roger Hannah & Co, we are aware of the unique needs facing those in search of the right commercial space. If this option is something you may be considering, our specialist commercial team are here to help with your property needs, simply call on 0161 817 3399 or fill out the contact form for a confidential talk regarding your property.