As the term is so broadly interpreted by many people/companies now, what does coworking mean to you? Coworking in the international sense is the umbrella term for flexible office space. In the UK it tends to refer to the open plan, hot desking, entry-level product that many providers offer alongside their flexible private offices. In recent years coworking has been referred to as a ‘membership’, much like for a club or gym, but instead you pay monthly to be a member of a coworking lounge.
From when you started, has your client profile changed? Yes, the flexible or coworking landscape has evolved from being somewhere for start-ups or SME’s to find office space to now also providing project space for blue chip, global organisations. The average size of space sold has increased as a result and, somewhat ironically, so has the length of term taken, from six months to 12-24-month contracts. This is due to many large corporates being used to a long-term 5-10 year leases. So a 12 or 24-month contract, to them, is very flexible.