Flexible workspaces growth gives rise to shorter lease lengths

Instant group flexible offices

UK occupiers are negotiating shorter leases or more flexible long-term tenancy commitments, according to the annual UK Lease Events Review compiled by MSCI.

MSCI’s research, sponsored by BNP Paribas Real Estate and the British Property Federation, showed that new leases with a duration of less than five years accounted for 42.1% of new tenancy agreements signed in 2017. That compared with a 39.4% share for the prior year.

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