Flexible Space Association celebrates local industry’s “robust upward trajectory” with Newcastle roundtable

The Flexible Space Association (FlexSA) was in Newcastle on the 16th of April, bringing together people from businesses in the city to celebrate the success of the Newcastle flexible space industry. Research from The Instant Group shows that demand rebounded significantly in 2023 and is expected to continue rising in 2024 and beyond.

The Instant Group goes on to report that demand in 2023 saw a significant increase of 32% compared to 2022, and a massive 51% compared to the pre-pandemic levels in 2019. Newcastle’s flexible space industry is said to be very much on a “robust upwards trajectory” as the projections indicate a 12% increase above 2023 levels by the end of the year. Term lengths are also visibly strong in this market, a good indicator that there is increasing confidence in the long-term viability of flex solutions. The average deal signed for 10.4 months in 2023 and is already up to 12 months in Q1 2024.

The round table event, hosted at The Corner [https://www.thecornernewcastle.com/], provided a platform for professionals from various member companies to convene, exchange ideas, share best practices, and gain insights into market trends and industry news. Attendees also had the opportunity to tour Wizu’s workspace in Portland House in the city centre, which opened in January.

“We’re delighted to have facilitated another successful gathering of industry professionals in Newcastle, where there is such strong growth in the flexible workspace industry, demonstrating the city’s vibrancy as a place for entrepreneurs as well as more established businesses.” said Jane Sartin, Executive Director at FlexSA. “These meetings not only encourage knowledge-sharing and collaboration but also showcase the vibrant and dynamic nature of the flexible workspace sector.”

FlexSA events are integral to the organisation’s mission of supporting and promoting the UK’s flexible workspace industry. With a focus on fostering community, knowledge exchange, and professional development, these gatherings play a crucial role in driving innovation and growth within the sector.