Real estate strategies 2022
PEOPLE | WORKPLACE SPECIAL
Real estate strategies 2022
As hybrid working kicks in , organisations are reconsidering their real estate strategies . Clare Bailey , Savills Commercial Research Director in the UK , says that some companies are being prescriptive in embracing hybrid working and downscaling and / or optimising their real estate , looking strategically at where they want to locate themselves to attract the best talent .
While downsizing in professional , banking and insurance sectors in the UK , mainly Central London , are taking place , she says , there is increased demand for space in the tech sector , and upsizing in regional areas .
It is the locations where the cost of the commute is quite sizeable , in time and money , that are losing out most , says Clare , with Central London especially impacted . While the smaller , regional offices – those that have always driven strong engagement in the workplace – have had most success in getting employees back to the physical workplace .
Clare highlights a rising trend , the ‘ cluster effect ’, where organisations are thinking strategically about where they want to be and locating themselves with like-minded companies in collaborative and community spaces . She points to Bruntwood SciTech , an agency creating a network of thriving innovation districts in the UK , whose Circle Square tech community in Manchester is proving ground-breaking . “ A lot of companies have moved there as it offers a community , incubator space , plenty of green space , and flexible workspace , so firms can grow .
READ MORE ONLINE 66 September 2022