While there has been a substantial amount of hype in the industry as of late revolving around the rise of co-working space, newly-released data from commercial property marketplace Hubble shows that throughout 2017, searches by SMEs for private offices far exceeded those for co-working space, suggesting that employers may not be as receptive to the idea of shared space as previously thought.

In a complete reversal of the previous year’s results, searches for private offices grew by an average of 40% month-on-month from January 2017 to January 2018, with 43% more searches being made for private offices than for co-working space. Searches for the category ‘private office’ comprised 62% of all searches on the Hubble platform during this time period, though it is worth noting that searches for co-working space remain disproportionately high compared to the overall office market.

Those most interested in acquiring private offices are SMEs with more than 30 employees and a healthy level of growth, with this group experiencing an increase of 248% year-on-year in the number of searches for private space.

Private offices also displayed the strongest performance In terms of booking numbers on the platform; such spaces accounted for 51% of all booking over the year, with shared offices and co-working spaces accounting for the remaining 49%.

Particularly noticeable here is the apparent reversal of norms displayed in this year’s results, as during the previous year private offices accounted for just 35% of all bookings while 65% opted for co-working spaces or private offices. In fact, Hubble insist that this is the first time since their founding in 2013 that private office occupancy has overtaken that of co-working environments and shared workspace.

Sam Bonson

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. He is currently working as a content writer, journalist & editor as he continues to expand his horizons.
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