The conventional office leasing model is undergoing a swift transformation in response to the evolving demands of the contemporary workforce. With the advent of flexible working hours, co-working spaces, and remote work, enterprises are seeking more dynamic office options that can effectively accommodate their constantly evolving requirements.
The growing interest of enterprise clients in flexible workspaces that were traditionally explored only by freelancing professionals and start-ups is a clear indication of a new normal for the sector. Consequently, managed office solutions more commonly known as customised offices have gained immense traction within the commercial real estate sector as a result of their ability to provide versatile, scalable and customised office environments. But what are managed office solutions? Let us explain.
What are Managed Office Solutions?
Over the past few years, the Flexible Workspace segment has established a distinct market position. The term coworking has evolved to include concepts such as flexible workspaces and managed spaces, highlighting its significance as a critical component of occupiers’ real estate portfolio planning. This transformation indicates that flexible and managed workspaces have become a strategic necessity for businesses.
Managed office solutions provide businesses with the ability to custom design their office space to resonate with their brand values and ethos. With a focus on freeing businesses from the hassle of managing their office space, customised workspace providers ensure the design, build and operations of the workspace.
According to a survey conducted by CBRE, 58% of corporate occupiers have used flexible office space in the past year. Of these, 52% used managed office space solutions, indicating a growing preference for this type of office solution.
Benefits of Managed Office Solutions
Corporates around the world are increasingly moving towards and benefiting from Managed Office Spaces – a service where offices are designed, built and managed by a third-party operator. Touted as the “future of work”, managed offices have gained prominence in the post-pandemic period and continue to grow still.
Managed office solutions provide enterprises with the advantage of customising a workspace to fit their brand’s ethos while saving up to 25% when compared to traditional leasing. Traditional lease models see expenses towards rent, CAM, design and build, insurance, lease and facilities management which not only result in high workspace expense but also result in a considerable amount of manhours spent toward managing the workspace. Workspace solution providers such as COWRKS help businesses work more efficiently and ensure continuous savings by charging a single membership fee which aims to eliminate upfront capital expenditure and reduce occupancy costs and ancillary expenses while ensuring efficient space management.
The COWRKS Advantage
According to a report by Cushman & Wakefield, “efficient allocation of resources across offices and de-densification of workplaces have been the primary considerations behind occupiers preferring a hub and spoke model of working”
As a Brookfield Properties Company, COWRKS provides assurance for businesses to execute their long-term growth strategies. Through the Brookfield Properties network, enterprises can focus on growing their presence across Grade “A” real estate that provides an extensive portfolio of workspaces. A holistic 360-degree approach to workspace management ensures rich campus experiences with premium amenities such as concierge services, gymnasiums, food halls, creches and more.
Through campus management teams, COWRKS and Brookfield Properties ensure rich experiences aimed at bringing life closer to work and making the workspace more enjoyable. With an approach to reimagining the workplace through thoughtful details such as customized scent programs, engaging lobby programming, and dynamic events that foster community and business connections, our goal is to elevate the overall experience for both businesses and their employees, ensuring a workspace that is not only functional but also experiential.
Design
From design and architecture to development and operations, in-house teams at COWRKS offer expertise in creating and managing custom workspaces. Every organization has unique needs, which is why design teams work closely with clients to ensure that their workspaces are tailored to their specific requirements. A team of experts takes care of the entire process, from the initial design concept to the final product to ensure effective space management and workspace operations. The focus remains on driving an enhanced employee experience, and elevated space programming through modern-day architecture and design.
Where are workspaces headed?
The traditional office leasing model is rapidly evolving due to the changing needs of the modern workforce. As companies reshape their real estate portfolios in the post-pandemic era, managed office solutions are becoming an increasingly crucial component of their corporate strategies. These solutions offer minimal administrative burdens and feature modern workspaces that prioritize employee engagement, making them appealing to enterprise clients. In India, Managed Space providers are the third largest occupier of Grade A office spaces, as stated in a report by Cushman & Wakefield.
Overall, managed office solutions are changing the way businesses approach workspace, and the sector is experiencing rapid growth. This growth is driven by changing work patterns, a desire for flexibility, and the need for cost efficiency.
Learn More – www.cowrks.com/managedoffices
