The Underdog’s Day. How Smaller Landlords Could Claim Victory in the Co Working Shuffle
In the vast and bustling landscape of coworking spaces, a narrative unfolds that echoes the tumultuous transformations seen in the retail sector. Just as e-commerce shook the foundations of high street shops, coworking giants are disrupting traditional office leases with aggressive discounting strategies. But this story might be taking an unexpected turn, tipping the scales in favour of the smaller landlords.
These landlords, often overlooked in the shadow of coworking behemoths, are akin to independent boutiques that once watched foot traffic dwindle as shoppers flocked online. Now, as a new demand for flexible, boutique workspaces emerges, these smaller landlords find themselves holding a new kind of currency: the ability to offer unique, intimate spaces that resonate with businesses seeking to avoid the one-size-fits-all approach.
A beautiful facade of one of our offices to rent on Cole Street in Borough
In this shifting terrain, the smaller landlords are emerging not as victims of a price war, but as victors in a value revolution. Companies, now more than ever, crave spaces that reflect their identity and ethos, and are turning to landlords who can provide not just square footage, but a square footage with character.
This dynamic could signal a reversal of fortunes. The pricing power, once lost in the depths of aggressive competition, is returning to those who can offer something beyond the standard fare. Smaller workspaces are becoming the new premium, and landlords who can provide these bespoke environments are finding themselves in a position of strength.
It's a subtle but significant shift, reminiscent of the way small, independent retailers regained prominence by offering the authenticity and personal touch that large e-commerce platforms could not. Similarly, the coworking industry is now at a crossroads where personalisation, flexibility, and community hold the key to success.
As the story unfolds, it becomes clear that the perceived disadvantage of the smaller landlords is transforming into their greatest asset. In a world where the workforce increasingly values individuality and the human touch, the smaller landlord's portfolio becomes the treasure map leading to a more personalised future of work.
One of our beautiful offices in Shoreditch.
In the end, this could be a tale of redemption for the smaller landlords, a narrative where the underdogs rise, not through the slashing of prices, but through the elevating of value, proving once again that in the face of commoditisation, individuality remains irreplaceable.
Written by Sanj Mahal, CEO of NO HQ.