It was announced last week that Blackstone has purchased a majority stake in The Office Group which is the UK’s leading flexible office space business valued at around £500m.

This announcement follows news that WeWork, the US flexible office group, (valued at around $16bn), has negotiated terms to acquire 120 Moorgate for £40m. WeWork are rapidly expanding their presence in the UK, as it is reported that they are developing 60,000 sq ft of office space in Manchester as well as building Europe’s largest flexible office development on London’s South Bank, on top of the 20 other flexible offices that they already have in the UK.

So what are the factors behind this unstoppable growth of the flexible office market?

The unstoppable growth arises from many factors: during the 2008 financial crisis, many workers faced unemployment or experienced a reduction in salary and corporate benefits. Workers had to adapt to their change in circumstances and many embraced working flexibly by taking on freelance and consultant roles.