UKIS Engage: Shift Ahead of Commercial Space

Historically, only one in ten companies moved premises at the end of their lease agreement, however, according to research carried out by CBRE, but now that figure is set to be turned on its head.ee

With the introduction of social distancing, and the ease with which employees have shifted from office working to home working, many businesses have had food for thought when it comes to much needed cost-cutting measures. Many are looking at the options of cutting short their current leases, whilst others are revising plans for their office space when their leases expire.

A recent survey also found that around 44% of UK firms are considering reducing their office space in a bid to cut their costs, with a report from recruitment firm Robert Walters saying that downsizing could be a workplace trend due to COVID-19.

The report said: ‘Some experts say that the open floor plan can be redesigned to ensure employees’ safety. Others say the pandemic is the final straw for the open office.’

The findings follow many business leaders’ thinking, with the likes of Barclays CEO, Jes Staley, being quoted in the middle of the lockdown saying that big city offices could be a thing of the past.

Sir Martin Sorrell, who has already started ending leases at some sites said: “I spend around £35 million on property per year, but I’d much rather invest in people than expensive offices.”

There has also been a lot of talk and speculation over businesses moving from big cities, and focusing on regional hubs, which could become destinations for home workers to come together for experience-based working, including problem solving, innovation and teamwork when collaboration is required.

Most commentators are not predicting the end of the office per se, but that the requirements have changed, and that a more fluid and ‘de-densified’ working environment is not just likely, but also needed.

 Glenigan is a partner of the UK Infrastructure Show (UKIS), the UK’s leading infrastructure and supply chain event, which explores the latest developments across the sector. This year, UKIS is going online and will be delivered as a live, online interactive event on Wednesday 9 September 2020.

More information on what you can expect from this new digital event experience can be found by visiting the UKIS website here.

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