The Demand For Flexible Workspaces14-08-2020
Covid-19 has shown businesses how important it is to be able to adapt quickly to the financial climate. As discussed in our earlier blog ‘Why The Office Remains Essential To Businesses’, Covid-19 has not changed the way we think about workspaces, it has accelerated pre-existing trends and shown us that there is value in designing an office where collaboration is the central focus. The office space is important to employees because it caters for collaborative working, internal and external client meetings and socialising with colleagues. On the flip side increasing volatility in markets is resulting in tenants often looking for shorter and more flexible leases to enable them to adapt their business as markets change.
Built-to-lease buildings have started to gain popularity because they offer tenants a ‘plug-in’ space that is ready to occupy. Cat A+ spaces serve as a ‘happy medium’ between Cat A and Cat B fit outs where the landlord can choose specific design features to attract a certain type of tenant. Therefore, landlords are now looking to refurbish spaces to Cat A or Cat A+ properties which can then be hired to prospective tenants as serviced and managed office spaces. These types of spaces are perfect for many businesses because they offer a central location for team collaboration that is specifically tailored to cater as a social, innovative space.
These flexible workspaces are also ideal for companies that are hesitant to purchase office spaces, such as start-up companies or smaller businesses, because leasing an occupier-ready workspace allows the tenant all the benefits of an office without the financial cost. It also gives them more flexibility and income if they wish to expand and purchase a Cat B office in the future. Since offices are also predominantly focused on collaboration rather than individual work, these flexible spaces can be based in more local, accessible locations for staff which is cheaper for the tenant.
At Office Profile, we have many years’ experience in refurbishing flexible workspaces and our Designers understand how to create a space that offers accommodating working facilities for a variety of tenants. As well as our Cat B refurbishments, we have worked on Cat A projects such as Diversified Communications. As the first tenants of the new premises, it was crucial that we created a workable and professional office. The landlord required mix of working areas like open plan areas and smaller meeting room facilities that would be suitable for the tenant.
Therefore, with the values of the office evolving, it is important that landlords are prepared to create their spaces to be exciting and flexible working environments for prospective clients. Contact us today if you would like help transforming your office space…