At Hubble, we help businesses give their teams great places to work.
Over the years, our team of expert advisors have helped thousands of companies find their perfect flexible office — a top-quality workspace that suits their budgets and team’s preferences.
But with all this experience comes an insider look at the trends, patterns, and behaviours that have a huge impact on the office search market.
To help kick off your office search on the right foot, Henry Burn, VP Commercial at Hubble, takes to YouTube to share the 3 top trends and tips for finding a new office in the first half of 2024! ☝️
Prefer to read instead? Here’s a quick lowdown:
Trend 1: Flexible office demand is up
In 2023, 50% more of our customers put office searches on hold to stay in their current space compared to 2022. But fast-forward to 2024, and things are looking a little different.
Firstly, the macro-environment has improved. This has given businesses the confidence to figure out their workspace strategy, which, for a lot of our customers involves set days in the office.
What’s more, some exciting new buildings have opened up, incentivising customers to move.
There’s now a 40% increase in flexible office inquiries month to date (MTD) compared to the average month in Q3-Q4 last year. The result? Competition for prime office spaces is high in 2024.
So, what does this mean if you’re moving office in 2024?
To secure your ideal office space in 2024, it’s advisable to start the search early, explore multiple spaces, and have a backup option.
Trend 2: New buildings are more likely to offer deals
Since there are some amazing new buildings opening in 2024, there’s a strong chance businesses will get a material discount if they’re one of the first companies to sign up for an office.
Businesses looking for office space in Shoreditch, Old Street, The City, and Midtown are also more likely to receive discounts due to there being a relatively large amount of empty space.
However, supply is limited in Kings Cross, London Bridge and the West End, so you’re unlikely to secure a discount there. We often see two or more companies go for the same office spaces!
So, what does this mean if you’re moving office in 2024?
If you’re budget-conscious, it’s wise to set expectations with your team around the locations you’re more likely to move to. Alternatively, you could plan ahead and secure a generous discount by signing for a building opening later in the year.
Trend 3: Part-Time Offices are the first choice for 25% of our customers
Hubble was the first flexible workspace platform to bring Part-Time Offices to London. Since then, over 100 companies have decided that a Hubble Part-Time Office is the right decision for their team.
We also saw a trend where larger companies go down the same route, with two companies taking up entire floors on a part-time basis in December and early January.
What’s more, if you have a fixed budget, you can get an office in a prime location with better facilities if you take it for 2-3 days per week vs. the traditional 5-day route.
So, what does this mean if you’re moving office in 2024?
Don’t be scared to take an office for 2-3 days per week to cut costs. Plenty of businesses are doing the same, and most enjoy the solution so much that they don’t move!
How Hubble can help
So, there you have it! Hubble’s top 3 trends and tips for moving office in the first half of 2024.
As mentioned earlier, Hubble can help you find the perfect workspace for your team. Whether you’re hybrid, remote, or fully office-based, our flexible workspace platform can optimise your workspace solution by providing great places to work, such as:
- Full-Time Offices: Our expert advisors can manage your entire search and negotiate the very best rate, thanks to our strong and long-lasting relationships with workspace providers.
- Part-Time Offices: Make substantial savings without losing the magic of in-person working with your very own office for the same 1-3 days per week.
- Hubble On-Demand: Give your team members access to thousands of on-demand workspaces to work and meet, helping you make cost savings and maintain collaboration.
