A new report by Savills suggests London’s outer boroughs could provide greater flexible office space in the future.
The London Mixed Use Development Spotlight report suggests London workers are looking for shorter commutes, more flexible working, access to green space and a work life balance that caters to their overall wellness.
With a strain on the current transport system, and businesses being priced out of the capital, the shift presents a huge opportunity to the less congested outer borough London areas. However, the Savills report points to a problem in this prediction.
Piers Nickalls, director in the business space team at Savills, explains: “To accommodate London’s future growth, landlords, developers and planners need to ensure that a full range of workspace at different price points is available across the city. The outer boroughs can offer occupiers far shorter commute lengths than what many take as the norm when travelling to work in central London. However, this should not be their only USP.
“The most successful emerging London sub-markets will be able to harness innovation and deliver a full range of flexible spaces and tenures, including co-working, to create thriving business eco-systems outside of Zone One.”