The Flexible Space Association’s latest Workspace Wisdom Webinar featured an exclusive briefing on the UK Flex Office market, presented by industry leaders Zoe Ellis-Moore, CEO and Founder of Spaces to Places, and Jane Sartin, Exclusive Director of the Flexible Space Association.

This insightful session explored the findings from Spaces to Places’ latest report titled ‘From Hype to Operational Real Estate’, providing valuable perspectives on the evolving landscape of flexible workspace in the UK.

Watch the webinar at:
FlexSA Workspace Wisdom Webinar

Or download report at: 
UK Flex Office: From Hype to Operational Real Estate | Spaces to Places

Summary of video:

The Shift from Real Estate to Time as a Commodity

• Time has become more valuable than real estate itself
• People now think about “Return on Time” and “Life by design”
• The fundamental question: “Is it a good use of MY time to commute to the office?”

Evolution of Work Patterns

• Historical progression: 7-day farming → 6-day factory → 5-day office → hybrid working → 4-day weeks
• Rise of unlimited vacation policies (Netflix, Virgin, LinkedIn, Dropbox, HubSpot, Airbnb)
• Recognition that people can manage their own time

Market Structure & Growth

• UK serviced office market has a “huge long tail” – most providers have 1-2 locations
• 228 providers identified with 4+ locations in the UK
• The sector is approaching a “tipping point” of maturity

Operational Real Estate Revolution

• Investors moving away from traditional triple net leases due to declining returns
• Shift toward operational real estate: student housing, senior living, hotels, flexible workspaces
• Focus on “hypermixity” – multi-functional spaces (example: Social Hub with 23 European locations)

Signs of Market Maturation

• Increased institutional investment: Major transactions in 2025 (Argyll, Gillbanks, CBRE acquiring Industrious for $800m)
• Managed office explosion: 895% growth since 2019
• User demand surge: London flex enquiries up 40% in Q1 2025; 78% of Central London briefs under 5,000 sq ft requested managed/fitted space
• Rise of “Brandlords”: 10 landlord-created flex brands in top 60 London providers

Market Evolution Trends

• Management agreements grew from 9% pre-COVID to 41% of deals in 2024
• Shift from ownership → leases → management agreements
• Focus on premium, hospitality-led providers