What flex should learn from the high street… ? Some of the flexible workspace operators I speak to expand in the regions, at the same time, local authorities have woken up to the benefits too as help solve two issues – local employment and high streets. But as with all things, there isn’t a one size fits all! ? There is so much we can learn from retail and the demise of identikit streets. ? Flexible operators provide a great solution, but they aren’t all the same and they don’t all have the same audience. I’ve been working with a number of local authorities on this across the country along with property owners – get in touch if you’d like to learn more. ? Thank you Property Week for publishing my thoughts! (Link in comments). #theoffice #Offices?#OfficeInvestment?#OfficeDevelopment?#CRE?#CommercialProperty?#PropertyNews?#UKProperty?#ESG #SustainableProperty?#Sustainability?#EcoProperty?#ESGStrategies #ESGRequirements?#capitalmarkets?#sustainable?#flexibleworkplace #flexibleworking #highstreets
Nice piece Will and Co-Space have done a great job in their spaces. I'm a small owner-operator and our small market town (pop: 17k) won't support a large independent space, so scaling to fit the hybrid/remote population is key to viability. It's always tricky to do meaningful market research to avoid failure, as we don't know where they all work until we tease them out from their homes and coffee shops. Another option we're exploring is partnering with thriving ground floor retail, where redundant storage rooms sit above. William gave me this idea with his first space in Lincoln, just off the high street. For small Indys, why not consider using, existing, paid-for, upper floors, to increase high street footfall, rather than trying to seek out affordable rents, rates and utilities? Just look up!
Really interesting article Will Kinnear ??A flexible workspace offering on the high street makes a lot of sense I think - another idea for empty units, getting home workers out of their houses so better for mental health , bringing workers literally onto the high street for extra trade or at the very least extra coffee/lunchtime trade , and makes sense operators are going to all have different models - appealing to different industry sector, or by price and by facilities and of course by the business model itself. I’d love to chat about this Will Kinnear. It would be great to do an article about this in a future HighStreetPositives newsletter.
Great article Will. During COVID I spent numerous months looking at high street/ retail based ventures to switch to flex space. The journey was very insightful. Scope to do things but found resistance from a) local councils unwilling or unable to incentivise b) no concessions on business rates c) most shop outlets didnt focus on light which meant the space needed extra cost to bring light into space assuming people are working there all day. The big positive was footfall once back after Covid with some large retail outlets seeing people in their millions visit over a year. If you can find a way to tap successfully into that market, you are onto a winner.
Great article. This is exactly the space ARC Club plays in - crucially it's down to partnership with the asset owners and planners in neighbourhoods Vs old world lease set ups. Obviously I'm biased but it's the future of the high street - amenity for all, with social value baked in - but crucially, with sustainable business models for the operators
Great concept, watching with interest
The future of the high street should be about live, work and play with the objective being to develop a value proposition aimed at Gen Z.
I think a lot about this piece, a local authority I know has in return for space at peppercorn rate has put a lot of requirement on the operator to deliver social value. The issue - it doesn't stack up as a business consequently it has failed and closed. It's a fine balance isn't it, between creating opportunities and running a sustainable business. There's a lot to be said about motivations and expectations on both sides here, especially with the high street in play. Like tou said, right space, right operator!
Flexible workspace consultant advising property owners and operators
1 个月https://www.propertyweek.com/insight/flex-space-can-revive-high-streets