The findings indicate that flexible or coworking spaces have become the leading choice for office conversions, with 11% of landlords opting for this type of transformation. This preference surpasses conversions into hospitality spaces (10%), retail outlets (8%), and residential properties (7%).

Over the past two years, nearly a quarter (23%) of office landlords have already transitioned part of their traditional office spaces into flexible or coworking areas. Looking ahead, 22% of respondents intend to make similar changes within the next two years.

The motivations behind these conversions are also telling. A majority (57%) of landlords cited the need to align with current market trends as their primary reason. This was closely followed by the desire to stay competitive (54%), enhance property value (43%), maximise revenue from unused spaces (40%), and futureproof their assets (35%).

Wybo Wijnbergen, CEO of infinitSpace, said: “If it wasn’t already clear, these results show that the traditional office model has and will continue to evolve rapidly. As many traditional office spaces face low occupancy rates, it has never been more important for office landlords to adapt.

“So, it’s positive to see that most landlords recognise the importance of upgrading their portfolio to keep pace with the rapidly evolving demands of UK office workers – as well as of of course boosting revenues and property values. For many, that looks like converting into flex space.”