Manchester-based Vault 23 supports businesses on their route to market strategy, helping them to deliver on their growth objectives. Founded by Joe Averill, the consultancy is gearing up to help companies search for new office space through a new service called ‘seek’, which is set to launch soon. I had a quick chat with Joe to find out more – and you can reach out to him on LinkedIn for furter details.
What is ‘seek’ about?
We recently announced ‘seek’, which is a new service that enables us to become more integrated on growth advice by supporting firms looking to scale up and search new workspace/office space. Our areas of focus for ‘seek’ will be across the North – predominantly Manchester, Leeds and Liverpool – in addition to London and Birmingham.
How have workspace requirements changed under COVID?
Requirements have changed significantly. The virus has accelerated a change in working practices and how businesses view flexible working and subsequently, workspace. Founders are now realising their teams can be just as productive out of the office as they are in it. The office is far from dead – it has just evolved – and businesses on the move are now looking for flexibility with the office becoming more of a hub. This means collaboration space, meeting rooms, and flexible working, which allows members to drop in and out of the office for meetings, project work, and strategising, etc. The office still remains very much relevant – in particular for those that require mentorship, training and development.
“We could be on the verge of one of the biggest workspace revolutions in the history of the market, which will see a lot of activity.“
What’s the current market like for office space?
The market is still very active – especially for managed workspace operators as businesses look to take short term spaces, as flexibility and uncertainty go hand-in-hand. The big challenge on the larger deals is that businesses keep on deferring lease commencement dates as they await to see when we will resume to some kind of normality before committing. Once we do get some clarity (wishful thinking!) we could be on the verge of one of the biggest workspace revolutions in the history of the market, which will see a lot of activity.