The 12 month campaign addresses the industry’s most significant issues, and aims to help investors, developers and occupiers to better understand future trends and changes within the offices sector, consequently leading to better decision-making on future business opportunities.
Benoît du Passage, Managing Director – France and Southern Europe, Jones Lang LaSalle and executive sponsor of the client project explained “Office space is one of the most under-exploited but powerful management tools available to corporate decision-makers. It’s no secret that office environments are changing en masse. But the speed of change is rapid and range of considerations clients need to account for are vast. We have developed this programme to help business leaders cut through the noise and make the right decisions now so they are prepared for the next decade of change.”
Offices 2020 covers the main issues and challenges that occupiers, investors and developers will need to consider over the next decade, including sustainability, location, asset management, building obsolescence, technology, working practices, fit-out and finance.
Key research findings include:
• 83% of real-estate professionals think sustainability is the highest priority strategic issue facing office real estate decision-makers over the next ten years;
• A combination of sustainability, technology and workplace practice will fundamentally shorten building lifecycles creating a huge demand for refurbishment;
• Future technological developments will have a significant impact on fit out and space requirement – but not to the extent some think. Potential game changers are a shift to 12 volt rather than 240 volt electrical technology; cloud computing and an increasing use of mobile and collaborative technology that will see space shift to 70% social and 30% individual;
• Funding and finance will remain constrained and creative partnerships and alternative funding sources will be increasingly required, but will it be enough to fill the funding gap?
• Landlord-tenant relationships will evolve firmly toward the occupier, with 80% of real estate executives currently believing occupiers will become more powerful with landlords and investors having to meet their increasingly detailed demands for accommodation and lease flexibility.
Bill Page, Head of UK and pan-EMEA Office Research, Jones Lang LaSalle who is leading is the research programme added: “We have developed a series of ten outputs that address the main office-related issues clients tell us they are losing sleep over. These assess the issues in detail and provide innovative options for action now.”
Rita Tuza, Head of Research Hungary, Jones Lang LaSalle adds ’’The office markets of CEE & SEE may well be operating at different speeds however, the findings from this research initiative will have an equal relevance to all over the coming decade’’
Benoît du Passage concluded: “Office densities are increasing, workforces aging and sustainability solutions attracting greater scrutiny. The real estate industry needs to adapt accordingly and help business leaders plan now for these changes. People cannot bury their heads in the sand and hope these issues will go away.”
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