Onside Issue 6 - 10

Flexible Future
Jeff Morton

Chris Bullough
Director, Seneca Property
Director, Seneca Property

E chris.bullough@senecaproperty.com

jeff.morton@senecaproperty.com
T 07793 955 242
www.senecaproperty.com

Seneca Property - solving the growing
requirement for flexible serviced office
space amongst SMEs.
With demand for Serviced Offices at an all-time
high, we shine the spotlight on why businesses are
increasingly turning to flexible space to meet their
workspace needs.
For many years Serviced Offices were viewed as
the sole preserve of the start-up community or
the one-man band, but recent years have seen the
sector undergo something of a transformation.
With demand booming, a succession of cool new
workspaces have opened for business and an
increasing number of mainstream companies are
turning to Serviced Offices as a preferred alternative
to the traditional workspace.

Exciting times
The rising demand for Serviced Offices was clearly
evident when global real estate services provider,
Savills, released stunning figures for the first half of
2017 which reported a 176% increase in UK takeup compared to the previous year. Meanwhile,
American giant WeWork, created headlines in July
2017 when it announced an enormous new flagship
Serviced Office in the heart of Spinningfields in
Manchester. At Seneca we too have entered the
market, having recently completed the acquisition
of a £20 million, 210,000+ sq ft portfolio of Serviced
Offices in Northern England, with a number of
further acquisitions in the pipeline.

The pace of change in the market has proven
disruptive and it is clear that Serviced Offices
are increasingly appealing to a broader range
of customers of all shapes and sizes. In late
2016, Microsoft became WeWork's most highprofile tenant, with the software giant keen to
provide their workforce with a flexible work
environment, whilst also benefiting from them
working directly alongside potential customers.
This pattern is repeated throughout the sector and
even in Seneca's own 325,000 sq ft Serviced Office
business, known as Biz-Hub, it is not unusual for a
large multi-national business such as Uber, to be
located alongside a small online start-up. Setting up
within a Serviced Office increasingly affords even
the smallest entrepreneur the opportunity to rub
shoulders with some of the world's leading brands.

Efficiencies in productivity
As the UK economy continues its long-established
trend towards becoming more service-oriented, staff
are increasingly becoming an organisation's most
important and expensive asset, and companies are
looking for ways to improve the productivity of this
asset. Jeff Morton, Managing Director of Seneca's
Serviced Office business explains, "Businesses
often take the considered view that time spent
looking after property related issues, alongside the
associated costs and management commitment
could be potentially better invested productively
elsewhere. We are very aware that many of



Table of Contents for the Digital Edition of Onside Issue 6

Contents
Onside Issue 6 - Cover1
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Onside Issue 6 - Contents
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