Somehow, finding the solution to the much-needed re-occupation of the office has become like finding the answer to a puzzle – the Rubik’s cube of the property sector.
For many reasons, employees have become office shy, resisting the daily commute and starting to create home cultures which reflect their own personal needs, creating a warm, cosy bubble around their work lives.
To solve this, employers need to re-assess what the office space represents for them and why people need to meet in a shared space to do business. Company culture is dependent upon this interaction and, while Zoom has a role, it is not a replacement for the creative process which happens when teams can meet in an office space rather than on a computer screen.
The other big issue is the decision by employees not to commute and to avoid the rush hour journey into towns and cities across the UK.
Pre-Covid-19, there had been a gathering storm of opinion, creating a backlash against this as more employees had begun working from home.
Real estate managers often bemoaned the empty offices on Mondays and Fridays. However, employees have now voted with their cars and travel passes and they do not want to commute.
Maybe this could be one of the biggest property outcomes from Covid-19.
And so it is good news that LSH has completed a re-assigned lease at Forbury Place in Reading for Pegasystems. A powerful shot in the arm for the Thames Valley market and re-affirmation of Reading, although it will be even better when the Thames Valley gets its first 22,500 sq ft letting by a London-based company relocating here.
As the proverb goes, all good things come to those who wait.
Finally, we have more than 400 delegates signed up for our UK Prop Fest next week. It is spread over two days and we now have 30+ speakers confirmed. Tickets are available at: https://www.eventbrite.co.uk/e/uk-prop-fest-webinar-tickets-115731577263
© Thames Tap No 224 (powered by ukpropertyforums.com).
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