Instant Group backs flex data firm

Instant Group, the operator of a flexible workspace marketplace, has invested in CoworkIntel, a data and analytics platform for the flex sector. CoworkIntel, which operates in the US and Spain, was co-founded in 2019 by Ben Tannenbaum and Pierre Becerril. It gives landlords and flex operators data on occupancy, rates and other metrics across various markets. Instant Group chief executive Tim Rodber said: “The data in the platform will provide a deeper understanding of flexible workspace, and its position within the wider office market, at a time when demand for flex continues to explode. By investing in CoworkIntel we will be able to scale its data and insights, and increase transparency in the sector for investors, operators, landlords and occupiers.” Instant Group’s latest report on the UK flex market found that third-quarter contractual occupancy rates averaged 83%, their highest since before the pandemic, although footfall remains notably below its pre-Covid peak. Although occupancy rates in London are rising, the highest occupancy rates are in Leeds and Manchester, with the Instant Group team noting that many companies are looking to incorporate regional offices in their portfolios. To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews Photo © The Instant Group