Successful event held for the launch of CoreNet Global/HOK Report - Exploring the impact of Coworking in Corporate Real Estate
This week the UK Chapter of CoreNet Global and HOK’s WorkPlace team held an informal evening of networking and the chance for guests to meet the authors of the Workplace Community Whitepaper – ‘Coworking: A Corporate Real Estate Perspective’ - a new report that studies the impact of coworking from a corporate real estate (CRE) perspective.
With coworking being one of the fastest growing sectors of the commercial real estate market, the report takes a look at the drivers of coworking from the demand and supply side, the industry risks and implications for corporate real estate, as well as providing information about the owners, coworkers and centres.
The CoreNet Global / HOK Coworking report highlights the ideas that changing business priorities and the need to attract talented people, reduce real estate costs, improve speed to innovation and increase productivity are driving corporations to consider different workplace models, including on- and off-site coworking. Here are the ten key takeaways from the report:
- Coworking is one the of the fastest growing sectors of the commercial real estate market
- The rise results from confluence of societal, economic, demographic and technological factors
- Companies consider on and off site coworking to attract top talent, improve productivity and reduce CRE costs
- Coworking comprises accelerators, incubators and maker spaces and includes universities, retail, hotel and library settings
- Coworking is approaching saturation points in some markets in NA and EMEA
- Coworking spaces can provide new uses for older properties and underutilized facilities
- The majority of coworkers are employees of an organization
- Engagement levels are lowest among employees who never work remotely
- High turnover and tenant instability challenge coworking centres to maintain profitability
- Today’s employees want to have workplace choices, community and flexibility
You can read the full report in the Knowledge Centre
If you’d like more information on the report or would like to get involved in the CoreNet UK Chapter please contact the Workplace team at ukworplace@corenetglobal.org.uk
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