Rethinking Workspace

New York city is the second largest flexible office market globally with a wide mix of providers offering space. Rates vary dramatically across the city with some of the highest average rates per desk globally being achieved in the city. While the majority of supply exists in Manhattan in the last 12 months we have seen a move towards other boroughs such as Queens, Brooklyn and even Staten Island.

Singapore continues to see high levels of supply growth year on year with one of the largest flexible workspace markets in Asia found in the Island City-State. Singapore has long been a key business hub and with very limited office supply was a natural expansion ground for flexible working as providers looked to expand outside of their home markets. Because of this the share of large international operators is high across the city although niche coworking providers continue to pop up as the market develops.

Thanks to the tech boom in the city over the last decade the demand for high quality office space has been ever present. This meant that San Francisco was one of the first US cities to see a real flexible workspace industry. Rates remain some of the highest in the US and while larger companies are looking to create their own flexible environments the number of small companies looking to grow in the city creates continuous demand. Due to the cost of commercial real estate in the city we have more recently seen providers move out of the city core and into the wider bay area.

What have we learned from the last 12 months? We are seeing the workspace industry in Australia adapting to a radical shift in approach to the office, and its role for business.

What have we learned from the last 12 months? We are seeing the workspace industry in Asia-Pacific adapting to a radical shift in approach to the office, and its role for business.

Instant established the Agile CRE ThinkTank (ACT) in March 2020 to explore and develop best practices around Productivity, Health & Safety and Real Estate in the face of the global pandemic. Over the last 6 months we have interviewed over 35 senior Real Estate, Facilities & HR professionals globally about their return to office plans.

Instant's John Williams and James Rankin, alongside special guest Gareth Lewis, Real Estate M&A Director at PwC, discuss the idea of the 'Lifestyle Office', and whether this is feasible in a post-covid world.

The Covid-19 pandemic has driven corporations to rightsize their commercial real estate portfolios, and along with it has come an occasion for a marked shift in real estate's sustainability impact. It has opened a remarkable opportunity to educate occupiers and investors and impact long-term sustainability performance, both within the office environment and at home, while supporting the transition to a low-carbon economy.