Flexible workspace market shows continued strength

The UK flexible workspace sector is demonstrating significant resilience, with London’s average private office revenue rising to £174 per square foot and occupancy reaching 83.8 percent. Data from the Workspace Intelligence Network (WIN) reveals that prime locations like the West End are outperforming the broader market, achieving revenues 26 percent above the city average. These trends underscore a growing bifurcation in the market, where core urban hubs maintain high demand despite broader economic shifts.

The Workspace Intelligence Network (WIN), which aggregates data from over 35 operators across 295 sites and 8.1 million square feet, reports that London's West End is currently generating £220 per square foot per annum. This represents an 8 percent revenue growth over the six months ending in Q1 2026, with occupancy in the submarket rising by 2.3 percent. Similarly, the City Core saw revenue and occupancy increases of 3.4 percent and 3.3 percent respectively, with both the West End and City Core maintaining occupancy levels above 87 percent.

In London’s Midtown, the market is showing signs of recovery as demand begins to absorb the significant increase in flexible workspace supply delivered over the last two years. Revenue per square foot in Midtown rose by 7.4 percent to £194, while occupancy recovered to 86.4 percent, nearly matching its 2025 high. However, performance remains uneven across the capital, as evidenced by a 4.1 percent drop in occupancy in the Old Street and Shoreditch areas, highlighting the challenges faced by some fringe submarkets.

Outside of London, the regional market presents a varied landscape according to early directional data. Bristol has emerged as a top performer with occupancy rising 8.4 percent to reach 92.8 percent, a figure higher than any tracked London submarket. Conversely, Birmingham experienced a 6.8 percent decline in occupancy. Industry leaders Jonathan Bevan of Techspace and Becky Gardiner of Fora noted that this granular reporting, which now includes ancillary revenues like event space hire, provides the transparency needed for landlords and investors to make informed growth decisions.