Since the financial issues Regus experienced in 2003 the company has successfully turned it fortunes around, as the serviced office industry has continued to grow in popularity.
(meta data) TITLE: Flexible Office Providers Most Active on Leasing Front for First Time | FreeOfficeFinder Call now for live help: View Shortlist Flexible Office Providers Most Active on Leasing Front for First Time # Flexible Office Providers Most Active on Leasing Front for First Time Vera Jaman 12 Jul 2017 Property News Search Articles... Serviced office and co-working providers have set a record for the largest share of space leased in Central London for the first time, according to Cushman & Wakefield's latest research. During the first half of 2017, serviced office or co-working providers – such as WeWork, London Executive Offices and The Office Group – accounted for 884,235 sq ft of newly-leased office space in Central London. According to the study, the second quarter of the year in particular saw a sudden rise in activity by serviced office and co-working providers with 651,540 sq ft leased. This was higher than London's traditionally dominant occupational sub-sectors such as technology, media and financial services. The first half of the 2017 total is more than serviced office and co-working providers managed to account for in the whole of 2016 (853,178 sq ft) and is just a deal or two away from of the sector's average annual take-up for the last four years (908,971 sq ft). It is almost certain that serviced office and co-working providers will surpass in 2017 their record annual volume of 1,267,926 sq ft set in 2014. Nick Riesel, Managing Director at FreeOfficeFinder, commented: "We've noticed an increase in recent trends moving towards serviced offices & co-working in the commercial property market. Major operators such as WeWork, LEO and The Office Group have made significant additions to their Central London portfolios. The statistics are proof that the market is showing increasing demand for flexible office space." In total, 4.8 million sq ft was let in Central London during the first half of the year – exceeding by 10% the same period in 2016. Elaine Rossal, Head of Central London Research, Cushman & Wakefield, said: "Serviced office and co-working providers aren't the only reason for the positive occupational picture in London but the two biggest transactions in the second quarter of the year have both involved WeWork as tenant. At a time when some sectors are wrestling with the impact of technology, Brexit or both, the rapid expansion of serviced office and co-working space has meant that this hasn't translated into any slack in the market. It also means that the variety of office workspaces on offer to occupiers in London is arguably better than ever before." #### Related articles Bruntwood Announces £50m Customer-Focused Regeneration Programme 20 Feb 2019 M&G Lend Joint Venture £69.1 Million For London Office Refurbishment 18 Feb 2019 Product Madness To Double Office Space In Broadgate Move 14 Feb 2019 #### Categories Property News Office Rental Tips Industry Insights Work Life Balance #### Recent articles 5 Tips for Finding Your Dream Start-up Office 30 Jul 2019 A Third of Millennials Choose Jobs Based on Office Environment 19 May 2019 Bruntwood Announces £50m Customer-Focused Regeneration Programme 20 Feb 2019 ##### Need Office Space? 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Executive suite
Serviced office.:History.
In 1983 James Blain, a Michigan-based architect, saw an increased need for single-story office space focused on a small-office user who seeks convenience, flexible lease terms and minimal overhead expense. In 1985 Blain opened his first AmeriCenters in Troy, Michigan. The company added locations in Michigan, Indiana, Illinois and Ohio. With increasing urbanization, travel, hotels, and office costs, the idea of an executive suite occurred to Mark Dixon in 1989 on a trip to Belgium.  His company evolved into Regus, a publicly traded and successful operator of individual office suites internationally. The company became overextended and went bankrupt in 2003. Less than a year later it took its US business out of Chapter 11 after restructuring, financed by its share of the profitable UK business.