Remote and hybrid working is in decline, but office spaces could soon reach an “all-time high”, according to an expert.
Nick Riesel, managing director of FreeOfficeFinder.com, says companies are desperate to get their staff back in the office to boost productivity.
The 46-year-old from London, who runs an agency for renting serviced office space in the UK, says his company has seen a substantial increase in requests this year – returning to pre-pandemic levels.
Unfortunately, there’s also some bad news for business owners.
Nick predicts that the price of central London offices are set to sky-rocket in coming months – rising by at least 3% due to inflation and cost of living.
As a result, companies are looking further afield.
“Hackney, Clapham and Notting Hill areas are becoming increasingly popular,” he said.
“They’re not too central and regarded as areas where people live.
“People are seeking to work where they live.
“The cost of living and travel has an impact and people are still in lockdown spirit.
“They’re used to working at home and don’t want to travel too far.”
As an example, a private office in Soho for a team of 10 currently costs around £9,330 per month.
Whereas a private office for a team of 10 in Clapham could set you back just £3,810 per month.
The office rental expert also believes employees are not willing to make a commute without a few added bonuses – such as yoga, networking areas, dog-friendly spaces and even beer taps.
Nick added: “[Meanwhile], employers want their staff back in the office.
“They’re finding the results from work from home staff are not the same as staff working in the office.
“[The feedback we’ve received] is that staff working in an office have higher productivity levels.”