The world of the commercial office is a changing one. Over the last few years, we have seen major changes in the way that organisations conduct their business, look after their employees, and engage with their customers. The growth in technology, development of the internet and communications, the COVID-19 pandemic, and the nature of a business’s engagement with their customers means that things have changed pretty drastically, and this has been reflected in the market for commercial units – especially offices.
One of the biggest changes that we have seen, is the meteoric rise in working from home, remote working, and hybrid working. Partially driven by COVID-19, partially driven by employee wants and needs in a changing world (the cost of childcare, the cost of travel, etc.), as well as other factors such as the use of cloud technology and facility of video conferencing, more and more businesses are embracing the idea of working from somewhere that is not a static office in one place.
Whereas nomadic working (working whilst travelling, or at least at no fixed place) used to be something that some self-employed freelancers enjoyed, now it is increasingly becoming a possibility for more people – being able to work from anywhere that has a decent internet connection.
Of course, many businesses exist where the possibility of working remotely is not an option, but for those where it is, it can also be challenging as they try to accommodate the wants and needs of the modern workforce.
Unstable Demand
The world of office work is going through a transition phase. The COVID-19 pandemic especially gave almost all office workers a taste of what it would be like to work permanently from home, some people loved it, some people hated it, but most people decided that they would like to mix it up and work in a hybrid style.
There has been a degree of pushback from some businesses (and the government) relating to working from home, but generally, the statistics appear to disagree with this pushback – suggesting that many people are actually more productive when working in different environments.
And this is where the challenge lies for employers when it comes to their commercial unit and buying or renting office spaces. Some businesses are choosing to rent an office that accommodates fewer people than their entire workforce to avoid spending money on space that might not be used, using a ‘hot-desking’ model, but not always managing to guarantee a space for everybody, whereas others prefer to give every employee their own desk or space, regardless of when they are going to be in the place of work.
The period of transition that we are seeing at the moment – leaving behind the idea of being in the workplace from 8.30 – 5.30, Monday to Friday to use a more flexible model can be difficult to get a handle on for businesses. Many are still trying to work out the best way around the issue. This could be a great time to look for a commercial unit to rent for a shorter time, until you work out what you need as a business, and then start looking for a longer-term lease.
Co-Working Spaces
The last few years have seen demand for co-working spaces struggle a little. There are several reasons for this, but one of the main ones is that the cost of living crisis has made it more difficult for the kind of people working in co-working spaces to afford to spend the money on a workspace.
However, things are changing, and we are seeing more and more bigger businesses renting out space within their commercial unit to freelancers or other remote workers. These places are already functioning workplaces with the facilities and amenities that are necessary – as well as WiFi, cleaning, etc., and can be great for networking.
For some people, ‘working from home’ does not necessarily mean working at home, it could be that they are somewhere else- perhaps visiting family in a different town or travelling somewhere new. Co-working spaces can be a good solution when they need a professional office unit to work in for a short amount of time/ They can be used alongside the hybrid model for employees that travel a lot, for example.
Factors Determining the Success of a Flexible Workspace
Whether you are a business looking to rent out an area in your commercial unit as a flexible workspace or a co-working environment, or are looking to open one up – or, indeed, you are looking at what to consider when searching for somewhere to take yourself to as a ‘worker’, it is helpful to understand what factors are most valued in a space like this.
One of the most important factors is location. Ensuring that the place is somewhere that is easy to get to can make all the difference. Somewhere with good transport links, good parking, or somewhere set in a beautiful area, near shops, near places to eat, can also be important factors.
Another factor is the facilities that are provided. Good internet, kitchen (perhaps with free tea and coffee), decent heating or air conditioning, and decent bathrooms, are all expected, but additional extras such as showers, gyms, a cafeteria, chill-out spaces, etc. can make a big difference.
Sustainability and green credentials are also important to many, as, of course, are price and the general atmosphere within the commercial unit.
Final Thoughts
The world of office work is changing as technology is helping to give people more options in terms of where they are working from. This is having an impact on commercial units, in that the requirements of many businesses change.
This is leading to a rise in the number of people and organisations that are looking for flexible workspaces, in whatever form they may be in.
If you have a commercial unit to rent or are searching for a new commercial unit for your business, take a look at our website and see how we can help you.