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Great potential for flexible workspaces: Berlin and Munich among the Top 5 in Europe

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Frankfurt, 24. July 2018 – Flexible workspaces, a category covering classic business centres and pure co-working spaces, as well as the currently very strongly expanding providers of hybrid flexible workspace concepts, are also becoming increasingly popular in Germany. The research report "Co-Working 2018 - The flexible workplace evolves" by Cushman & Wakefield shows record demand for flexible workspace concepts worldwide. The report examines its development and market maturity as a business sector. London is the international leader in this respect, however two German cities, Berlin and Munich, are among the top 5 in Europe. Berlin is the undisputed leader in Germany, but Munich, Frankfurt and Hamburg are close behind.

Matthias Huss, Head of Office Letting Hamburg and Head of the Hamburg office of Cushman & Wakefield, says: "The dynamic of the flexible workspace market has massively intensified within only a few years, especially in the metropolitan regions. Cushman & Wakefield has become a preferred partner of the major providers: our strong market position and profound knowledge of this sector are what convinces the providers. Since 2017, we have brokered a total of around 65,000 square metres of flexible workspace in Berlin, Munich, Frankfurt and Hamburg and see further great potential in Germany, especially in the top locations and economically strong regional centres. In Berlin, Munich, Frankfurt and Hamburg, office space take-up for these concepts increased fivefold from 2016 to 2017; from a share of 1.4 percent to around 6 percent."


The German capital currently has a total of 18.6 million square metres of office space. More than 177,000 square metres of this, just under 1 percent, is taken up by flexible workspace models. Berlin benefits from being the preferred location for start-ups. Almost all the well-known providers of flexible workspace concepts are active in Berlin. Cushman & Wakefield let around 38,000 square metres of flexible workspace in Berlin in 2017 and 2018, including to WeWork, Regus and Rent24.


Of the 11.7 million square metres of office space in Frankfurt, almost 123,000 square metres accommodates flexible workspaces; 1 percent of the total stock. The German financial metropolis is home to internationally renowned flexible workspace providers: WeWork, Regus, Plug & Work, Design Offices and Tribes.


Of the 20.5 million square metres of office space in Munich, almost 190,000 square metres comprise flexible workspaces. This represents 0.9 percent of the total stock, with providers such as Regus, Friendsfactory, Design Offices, Agendis Business Center and Mindspace active in Munich. Since 2017, Cushman & Wakefield has brokered around 16,000 square metres in Munich to renowned providers of flexible workspaces, including Mindspace Germany.


Hamburg ranks fourth among the flexible workplace strongholds in Germany. The Hanseatic city currently has a total of 14.7 million square metres of office space, almost 91,000 square metres, or 0.6 percent of which, accommodates flexible workspace models. International providers such as Regus/Spaces, WeWork and Rent24 have locations in Hamburg. Cushman & Wakefield brokered around 7,200 square metres of flexible workspace in Hamburg in 2017 and 2018, including in Richard-Böse-Haus with 3,500 square metres let to WeWork, Kaufmannshaus with 2,100 square metres let to Rent24 and Brückenquartier Harburg with 1,600 square metres for Regus.

The versatility offered by flexible workspace providers is appreciated not only by freelancers and start-ups, but also by established international companies. The flexible workspace concept offers an interesting alternative to conventional leases with terms of several years. Flexible workspaces enable companies to react quickly to small or large space requirements, and to optimise to fit their needs. The trend towards flexible workspace is also driven by opportunity to achieve synergies in the sustainable use of high-quality, functional office equipment and technology, meeting and event space and other professional services ("Space as a Service"). Communication between users, as a community, is also facilitated, which in addition to a pleasant working atmosphere, can promote cooperation beneficial to the companies involved.