FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
In London, prices increased by +2.1 per cent, with occupied Private Office Revenue now hitting an average of £174 per sq ft, whilst occupancy was up 1.2 per cent to 83.8 per cent, with the West End and City Core running above 87 per cent occupancy.
WIN is an independent, operator-led initiative providing the flexible workspace sector with performance data across London and leading UK cities and offers the most complete and holistic market view of flex performance. WIN data covers 8.1m sq ft of flexible workspace across 295 sites.
Operators contribute anonymised data, which is independently aggregated by an audit firm to ensure privacy and confidentiality. The data is based on actual performance from both new deals and renewals, and also captures ancillary revenue streams, including meeting room and event space hire, which have historically not been included in sector-wide reporting.
The data also shows that London’s West End flexible workspace market is generating £220 per sq ft pa in revenue – 26 per cent above the London average. It reflects 8 per cent growth in flexible workspace revenue over six months to Q1 2026.
West End flexible workspace occupancy has risen 2.3 per cent over the same six months. In the City Core, revenue has also risen and is up 3.4 per cent, with occupancy up by 3.3 per cent, demonstrating continued strength in core demand.
Outside of the West End and City Core, Midtown is showing signs of recovery as demand catches up with a significant increase in flexible workspace supply that came to the market over the past two years. Revenue per sq ft and occupancy have both strengthened as the additional capacity has been absorbed.
WIN’s data shows that revenue per sq ft in Midtown has risen by 7.4 per cent over the six months to the end of Q1 2026, reaching £194 per sq ft pa.
Occupancy in Midtown dropped during Q4 of 2025 but has recovered and remains only 0.4 per cent below the previous 2025 high of 86.8 per cent.
Old Street/Shoreditch remains a challenging market with occupancy over the six months to the end of Q1 falling 4.1 per cent.
Fringe London submarkets are seeing more mixed performance, pointing to continued bifurcation between core and non-core locations.
Outside of London, early directional data shows a mixed picture in the key regional cities. Bristol has seen occupancy rise 8.4 per cent in the six months to the end of Q2, while Birmingham has seen occupancy drop by 6.8 per cent. Bristol’s occupancy, at 92.8 per cent, is higher than that of any London sub-market.
Commenting on the data, Jonathan Bevan, Co-Chair of WIN and CEO of Techspace said: “The latest WIN data shows a flexible workspace market that continues to perform well, in London’s core markets but also across the UK. It’s also encouraging to see London’s Midtown beginning to recover as demand catches up with the significant increase in new supply delivered over the past two years.
“Reliable market data helps everyone make better decisions. By bringing together actual trading data from more than 35 operators, WIN is giving operators, landlords, lenders and investors a much clearer picture of how the market is performing, helping to support better decisions and the continued growth of the sector.”
Becky Gardiner, Co-Chair of WIN and Director of Partnerships at Fora added: “What is most valuable about WIN’s data is the depth and granularity it brings to a market that has often lacked consistent, reliable benchmarks. This latest dataset shows clear strength in flexible workspace demand, particularly in London’s core locations, while the submarket and regional trends give unrivalled insight on a much more local level. For operators with a significant footprint in the West End, the strength of that market provides a much sharper evidence base for decisions on pricing, investment and future growth.”
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