Co-Working Spaces: Building a Culture of Freedom

Key Findings: 

• Technology improvements and expansion into the mainstream has enabled the rise of co-working
• Co-working spaces offer flexibility to scale quickly and seamlessly while also removing infrastructure challenges
• The co-working industry is forecast to expand to 5.1 million members by 2022
• Bracknell has embraced co-working, with traditional office space giving way to vibrant, smaller suites

As the number of remote workers rises and freelancing becomes much more viable across a number of sectors, the shift toward co-working spaces was inevitable. Thanks to the Cloud, improvements to wireless technology and collaborative software, workers can effectively integrate into a team from anywhere in the world, whether they’re on the train, in a coffee shop or working from home.

While this has created a culture of freedom that allows us to work apart, it has also enabled the rise of co-working spaces – bringing people together to collaborate on projects and share ideas. For forward-thinking startups and fast-growing companies, co-working spaces offer the flexibility to scale quickly and seamlessly while also removing the pressure and cost of supplying the necessary infrastructure.

Also known as ‘space-as-a-service’, there are a number of valid reasons for the growing momentum of co-working spaces. According to a survey of ‘co-workers’ by Visual Capitalist, the highest-ranking benefits of the model include:

1. Social and enjoyable atmosphere (59%)
2. Interaction with others (56%)
3. Community (55%)
4. Proximity to home (51%)
5. Like-minded people (47%)

It’s these benefits for professionals that are helping the co-working industry expand to a projected 5.1 million members by 2022.

It should come as no surprise then that having these amenities within a development is a huge selling point for potential investors. As the co-working industry rises, developers are realising that including these facilities within a property is incredible for tenant demand.

The Grand Exchange, a game-changing luxury residential development for Bracknell, is paving the way as a truly forward-thinking, smart development with high-quality facilities designed exclusively for residents. At the heart of this iconic new landmark is The Exchange Lab, a collaborative workspace that provides professional residents with a large, open-plan workspace featuring state-of-the-art infrastructure and wireless connectivity. Residents of The Grand Exchange will have an exclusive space that acts as a hub of creativity, allowing them to work with like-minded professionals, hold informal meetings and share ideas.

Bracknell as a town is also embracing space-as-a-service, prioritising quality co-working spaces and smaller office suites over large commercial spaces. Bracknell is in the top 10% of national productivity (GVA) with a prosperous local economy and an office sector that includes 450,000 sq.ft of office accommodation. As regeneration continues to sweep through the city, an undersupply of traditional Grade A office provision has given way to vibrant co-working spaces – one of which will be found in The Grand Exchange.

The Grand Exchange and Bracknell represent a real opportunity for investors to harness a rising trend, attracting a professional workforce that will be drawn to exclusive, practical amenities such as a co-working space literally minutes from their front door.