A CBRE report has forecast that London's flexible office market will grow from 12% of the capital's total office space to 20%, reaching 50m sq ft, by 2030.

Fora’s flexible workspace at Borough, London.

The firm predicts growth across all subsectors of the market, driven by occupier demand for flexible options and increased participation from landlords.

Landsec’s Myo and British Land’s Storey are among big landlords’ flex office platforms set for expansion over coming years, the firm reported.

CBRE found all segments of the flex market are expected to experience substantial growth. Flex brands created and operated by landlords – what it terms ‘brand-lord space’ – is forecast to reach 3m sq ft by 2030, an increase of 200%.

Managed flex space is expected to increase by 70% to 12m sq ft, fueled by growing occupier demand for self-contained space with flexible lease terms.

CBRE also outlined a new emerging segment in the sector, which it dubs the ‘shadow flex market’: traditional office space that isn’t explicably marketed with flexible terms but is available as flex space through negotiation.

Michael Glynn, head of UK flex at CBRE, said: “We are confident that the market will continue to expand due to the sustained and increasing demand for flexibility from occupiers.

“Defining the flex market, while challenging, is crucial for accurately assessing the opportunities within central London.”