Change & Flexibility: The role of serviced office space in corporate
real estate portfolios and office markets
Virginia Gibson and Colin Lizieri
Working Papers in Land Management and Development 01/99
pp.34
Abstract
With the increasing pace of change, organisations have sought new real
estate solutions which provide greater flexibility. What appears to be
required is not flexibility for all uses but appropriate flexibility for
the volatile, risky and temporal part of a business. This is the essence
of the idea behind the split between the core and periphery portfolio.
The serviced office has emerged to fill the need for absolute flexibility.
This market is very diverse in terms of the product, services and target
market. It has grown and gained credibility with occupiers and more recently
with the property investment market. Occupiers similarly use this space
in a variety of ways. Some solely occupy serviced space while others
use it to complement their more permanent space. It therefore appears that
the market is fulfilling the role of providing periphery space for at least
some of the occupiers. In all instances the key to this space is a focus
on financial and tenurial flexibility which is not provided by other types
of business space offered.
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