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What is Office “Timesharing” and How Could It Benefit Your Business?

Hannah Watkins
Hannah Watkins|

In light of recent events, businesses around the world are increasingly seeing the benefits of remote working, and are now exploring ways of integrating it into their future company practices.

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Nevertheless, the vast majority of businesses will still need an office of some sort. After all, office space is much more than simply a “place to work”. Technology has made it easy for many of us to work remotely for a while now—but still, the office has occupied an important role in our working lives. Humans are social beings, and in-person connections are hard to fully replace.

As such, whilst many businesses will need office space less often or for fewer people, it will still remain an integral aspect of the world of work. To address this, workspace providers are working hard to adapt their offerings to meet the needs of businesses in a post-coronavirus world. And one option that is becoming increasingly popular is “office timesharing”, or part-time office space.

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What is office timesharing?

Office timesharing allows businesses to take an office on a “part-time” basis—by sharing ownership, costs, and usage with other companies.

The companies share the usage of the office on a schedule that suits them and split the cost accordingly. This is ideal if you’re looking for a private office but don’t want to use (and consequently pay for) it every day/week of the year.

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For example, one business may occupy the space every Monday to Wednesday, whilst the other uses it on Thursdays and Fridays. Other businesses may wish to use the office on alternate weeks—it all depends on how you and the businesses with which you’re sharing want to structure your time.

Office timesharing is different to traditional office sharing, which involves different businesses using the same office at the same time. With office timesharing, you are the only business using the workspace on your designated days.

As a relatively new concept, many of the finer details around how office timesharing works are still in the making. But the monumental shifts to working practices that are currently happening in the wake of the pandemic will be led by the requirements of businesses—and as such, the shape that office timeshares take will be dependent on what businesses want and need. 

What are the benefits of office timesharing?

The main benefit of office timesharing is the way in which it allows businesses to have both a physical office environment and a flexible working policy, without wasting money on office space that sits empty for significant periods of time.

Activities better suited to “real-life”—client meetings or collaborative exercises, for example—can still take place in a professional environment that belongs to your business, but for a fraction of the cost. 

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Having designated “office days” can also introduce routine into a new flexible working structure, making it easier for businesses to transition away from having everyone in the office all the time, without too much of a culture shock.

Maintaining an office presence, even if only part-time, can also show employees that you still value team culture and bonding. Office time can help kindle the feeling of belonging that may suffer in a fully-remote team, whilst also giving employees access to the flexibility that remote working offers.

How do I find an office timeshare?

If you’re interested in office timesharing in the future, start by filling in this form with any needs and preferences. Our advisors can then give you more information around the options available to you as a business, and put you in touch with the most suitable office providers on the market.

I have an office I’d be interested in sharing. What are the next steps?

You may already have an office space that you’d like to explore sharing with another business. If that’s you, get in touch with our team at host@hubblehq.com, and we can advise you further.

Hosting an office timeshare is, of course, subject to your landlord’s approval—however, we can help you establish if this is a possibility for your business.

Workspaces open to office timeshares: 

London’s workspaces are adapting fast to current demand. Below you’ll find some of the capital’s most innovative providers, who are already open to the concept of office timesharing.

Please note: this list is just a selection of the providers who allow businesses to take office space on a part-time basis; get in touch with our team to see all of your options.

IWG (Regus & Spaces)

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Minimum terms: 1 day per week / 1 week per month

Applies to: all buildings

Hana

Hana

Minimum terms: 1 day per week / 1 week per month

Applies to: all buildings

Work.Life

WorKlife Hamm

Minimum terms: 1 day per week (no weekly part-time options—minimum 4 weeks per month)

Applies to: all buildings

Office Space in Town

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Minimum terms: 1 day per week (no weekly part-time options—minimum 4 weeks per month)

Applies to: all buildings

Clarendon

Upper Berkley Street Clarendon

Minimum terms: 1 day per week

Applies to: the following London buildings: Ealing Cross, Chester House – Fulham Green, Longcroft House – Liverpool Street & Marble Arch, as well as these Outer London and Oxford buildings:
Slough – Future Works Building, Heritage Gate – Eastpoint Business Park (Oxford), Sandford Gate – Eastpoint Business Park (Oxford), Prama House – Summertown (Oxford)

Knotel

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Minimum terms: 1 day per week / 1 week per month

Applies to: all buildings

If you’d like to learn more about the workspace options available to you as a business right now, you can call our advisory team on +44 20 3868 6470 or get in touch via the link below:

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