The global flexible workspace market is growing fast and is forecast to reach a total valuation of more than £59bn as early as 2026. This new type of workspace is on the rise and here to stay – particularly in Manchester, a city which has embraced the new world of work and is home to dozens of fantastic new workspaces to accommodate it.

The Covid-19 pandemic, rising inflation rates and the global energy crisis all played a role in accelerating demand for flexible workspace in the city. Businesses are looking to their future work strategies by observing how office work, hybrid work and fully remote work are impacting their operations on every level.

Manchester’s flexible workspace market is booming as a consequence, with some major trends defining this new era of offices in the city.

Expansion and new entrants

New entrants in to the market have bolstered Manchester’s flexible workspace offering, in addition to existing operators expanding with new sites.

For example, Bold has taken space at Bauhaus, 27 Quay Street, Orega has launched a new operation nearby Manchester Victoria and Hana has two sites in close proximity to St Peter's Square. Regus launched their new brand Spaces. offices | co-working | meeting rooms. at both Peter House and 125 Deansgate.

Department expanded its operation with three sites across Enterprise City/Spinningfields. COLONY's footprint is up to four sites in Manchester, and the ever growing presence of Bruntwood Works is also making itself known, with the company’s four existing flexible spaces across the city being just one part of its wider development strategy.

Huckletree has also boosted its presence in the Express Building to provide an additional 11,500 sqft of space for Manchester’s start-ups and scale-ups.

These are just some of the operators which have arrived or expanded in recent years as Manchester’s flexible workspace offering grows and grows.

Competition, competition, competition....

The increase in competition is great news for Manchester because it means flexible operators are becoming more customer-centric and enhancing their products to accommodate for the needs of businesses and their people. Fun creative environments are being designed to make spaces which offer more value and entice people back to the office.

Standards are improving across the board to improve people’s experience of the office. Air conditioning, pet-friendly spaces, prayer rooms, disabled accessibility, resilient digital connectivity, gyms, yoga studios, community events, content studios, neurodiverse lighting, social areas/bars, eco-friendly space and more are a selection of the innovations you can find in Manchester office buildings now!

Landlords are increasingly partnering with flex operators on joint ventures, management/profit share agreements and franchise models, amongst other types of deal structures to provide a strong level of amenity in their buildings, fill vacancies and provide adiverse range of space within their products.

The winners are businesses and their employees who have returned to a world of work that is radically different – and hugely more appealing – than the traditional, old-fashioned offices they left behind before Covid-19.

The rise of mergers and acquisitions

We have started to see mergers & acquisitions take place in the flexible workspace market including two great operators TheOffice Group & Fora.

Their aim is to become the premier flexible workspace company in the UK and Europe, merging two highly respected businesses with similar cultures to combine intelligence on creating high quality unrivalled workspaces.

I feel this is a trend that may follow suit in Manchester in the coming 24 months and provide even more upgrades to the workspaces on offer in the city.

Again, the winners are businesses and employees who will all benefit from workspace operators eager to provide the best service possible and get companies into their buildings.

Technology and recruitment firms driving market activity

Currently the flexible workspace market is underpinned by recruitment and technology businesses who are taking space at a rapid rate. GigPig, AND Digital, FairmontRecruitment, Lunio, ModernMilkman and The Talent Crowd are just a few of the names who have recently opted for working in a flexible workspace environment in Manchester.

These two sectors will continue to dominate market activity in the future as Manchester continues to justify its place as one of the UK’s strongest tech and employment hubs.

Technology enabling flexible workspace growth

Technology has been a key component in the rise in flexible workspace by enabling businesses to make smarter workspace decisions through analytics and facilitate remote/hybrid work by making communication easier.

Communication between teams through video conferencing combined with digital tools that support teams to collaborate, develop and interact online, has empowered companies to engage their teams as they adjust to a more flexible working model.

It also means that companies operating on a hybrid working model can find an office space that suits how they work. Many flex operators and landlords in Manchester offer a range ofspaces to effectively link remote workers with people in the office so that your teams can work together without missing a beat, no matter where they are.

Flexible workspace to rent in Manchester is a hot commodity thanks to a range of landlords and operators which are competing to provide the best service, amenities and workplace environments.

As the sector grows, you can find a flexible workspace in Manchester that helps your company grow and be part of the city’s modern economic boom.

Want to learn more about what’s out there and how the right office can help your business thrive? Get in touch with our team today to learn more.

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