According to the analysis of the real estate consulting company JLL and information from Scott.Weber Workspace, the largest operator of co-working offices in the Czech metropolis predict that there will be 200% more shared offices in Prague in 5 years than 5 years ago.
There is potential in the segment
Flexible offices currently make up 2.7% of the 3.75 million square meters of office space in Prague, and further growth is expected. “Flexible shared offices are still primarily the domain of Prague, Brno or Ostrava, or some regional cities. For example, in London, but also in other western capitals, this share is several times higher, which indicates the potential for further growth of this segment in our country” – Pavel Dolák, an expert on the construction industry and the real estate market from KPMG told officerentinfo.cz.
In the first quarter of the year, 101,736 square meters of flexible offices were in the capital, of which 93,700 square meters were in use. For another 8,000 square meters, shared office operators have already signed leases, but the centres have not yet started operations, according to JLL.
Besides global and local providers owners are also in competition
The most shared offices are in Prague 1 (32%), Prague 4 (17%) and Prague 5 (18%). In addition to Scott.Weber Workspace, Spaces (14%), Regus (11%), HubHub (6%) and WeWork (6%) are the largest providers in the city. “The Czech market is characterised by the fact that there are both global and local providers of these offices, but some owners or developers who also offer shared offices are also directly active,” – Dolák pointed out.
Raising the bar
By 2024, JLL expects to open five more shared office centres with a total area of 12,300 square meters. Of these, Scott.Weber Workspace is planning three, including The Park at Chodov in Prague 11. “We had our sights set on the premises in building number three and we intend to make proper use of it. We are going to raise the bar for a modern working environment here again” – said Martin Bare from Scott.Weber Workspace.
Photos: Scott.Weber Workspace