Post pandemic, it appears that the office is less important to companies that now offer flexibility with regards to the location of their staff, offering hybrid working models rather than the necessity to ‘punch in’ Monday to Friday.
This includes a backlash to fully remote working models, where business owners are focusing on making the office environment significantly better for when the staff do come together.
“Something that remains to be seen is how policies on remote working might change when the recession bites. During economic downturn, the need to maximise productivity, innovation and collaboration is never higher, and I suspect that will translate into a desire to get people back together more in the same shared workspace.” Daily Business Group
Better natural light, more space, better break areas, more plants and a more beautiful environment are what staff appreciate. And what attracts people back to the office; both employees and tenants, is all this plus a strong consideration to renewable energy and sustainability.
According to the news about the current economic climate, the cost of building projects continues to rise. Our industry has suffered knock after knock from Brexit, the pandemic, the Suez Canal blockage and now the widespread cost of living crisis, yet commercial property and in particular, warehouse space is still in demand.
Warehouse demand overtakes supply
Savills commercial sector reports, “Since February 2022, according to the MSCI monthly index, rental levels have increased by 16% nationwide and 23% in London, and the latest forecasts from Realfor suggest a further 25% of growth will be seen by 2026, at a nationwide level.” Savills Research
Warehouses are highly flexible spaces that can be purposed for use in any industry; storage, offices, showrooms, call centres, children’s nurseries, vets, gyms and recreation centres (or a combination of), can all be seen on your local industrial estate.
As specialists in warehouse refurbishment and fitout we would urge business owners to think carefully about purchasing commercial property and make sure they consider warehouse rental and refurb before making a commitment.
The office of the future is required to be more attractive to employees, more sustainable and more attractive to potential tenants. Make sure you can keep up with demand.