Workthere, the serviced office brokerage and a subsidiary of property advisor Savills, has reported "impressive" growth in the flexible office sector here.
More than 100,000 square feet of new serviced office buildings opened last year, with an expected more than 200,000 square feet scheduled to open this year.
Prominent local operators contributing to this expansion include Iconic Offices, Glandore, and Grafter.
Serviced or managed office solutions are preferable to some businesses for their flexible terms, which have an average term length of 12 months, and the ability for companies to quickly scale up or down in line with their business performance.
Flexible offices charge one all-inclusive monthly licence/membership fee to include the private office space but also shared access to additional onsite amenities that include communal break out spaces, meeting rooms and lounge areas which can prove beneficial to companies trying to entice employees back into the office
Kim Hogan, Workthere Lead for Ireland, said the flex office sector has experienced significant growth in Ireland over the past year as several international and indigenous Irish providers have expanded.
"Average daily occupancy levels in flex spaces are at 81%, compared to lower levels for conventional offices, although these are increasing month-on-month," Kim Hogan said.
"In uncertain times, companies are opting for more stabilised short-term commitments, sometimes at higher rents, to avoid long-term commitments and high capital expenditure," she added.
Tuesday to Thursday are the busiest days on site, while Monday and Friday see lower occupancy levels.
