Recent data from NCG revealed that 55% of businesses would pay a premium for a top-quality workspace with better technology, facilities and decor, suggesting landlords with high-quality assets could potentially get higher earnings for their properties.
According to the research — based on an independent survey of 1,002 senior decision-makers within UK businesses — competing on price is no longer an option for workspace landlords, as firms are now increasingly prioritising the quality of an asset.
Around 31% of respondents view the technology available in a flexible workspace as the most important factor in their choice, above the 25% who say price was the top consideration.
The events and networking opportunities (31%), and the design and quality of the fit-out (28%) are also proved more important than price.
However, the survey data shows there’s still room for improvement when it comes to technology in workspace rentals — according to the data, only 10% of respondents said the overall tech offering within their workspace is very good.
Meanwhile, 50% of firms stated the tech in their workspace regularly fails.
Of the businesses that describe their workspace’s tech offering as ‘very good’, only 57% are considering moving to a new workspace — 19% below the average.
Thomas Proctor, CEO at NCG, said: “While many UK businesses clearly place a high value on workspace technology, the service they are receiving is not meeting their expectations.
“The data shows that flexible workspaces still have a considerable amount of ground to make up to meet the growing demand for top-quality technology that is essential for UK businesses.
“Landlords and flex operators need to realise that in the world of flexible and hybrid working, first-class technology is not an area that can be treated as a luxury item or a cost-saving measure.
“The flexible workspace industry must embrace modern technology and ensure their clients get the service they and their businesses demand.”
