Can you negotiate the future of work without breaking the office market? A Bisnow Choose Your Own Adventure
The future of work. It’s a point of deep uncertainty, and for office owners it can seem like they’re grasping in the dark.
Office owners have to make decisions now, decisions that could affect the future of their businesses for years to come, increase profitability or put them out of business – all with very little information about how people will choose to work in the future and how they will do it. use office real estate. The much-vaunted ‘return to the office’ has been repeatedly delayed by new variants of the coronavirus and the reality is that the world is still in the very early stages of a multi-year process of experimentation on how we will work in the months and years to come.
The number of results is almost infinite. In this spirit, bisnow created a “choose your own adventure” to help you figure out how the world of work might change.
So here’s the scenario: you own a 54,000 square meter office building leased to a single tenant, a white-collar company that straddles the worlds of professional services and technology. The building was built in 1993, and it has good bones: lots of natural light, decent floor-to-ceiling heights, large floor plates, with columns all in the right places. But it’s seen better days, is a bit run down, and has nothing in the way of amenities. The HVAC and insulation are old which means it’s not very energy efficient.
It is located on the edge of a major city’s central business district. It has transport links and good restaurants and bars nearby, but they are a bit of a walk.
Your tenant diligently followed government regulations, asking staff to work from home when case numbers were high and trying to bring staff back in a safe and measured way when cases receded.
Your occupant is planning for the future — they have two years left on their lease and they need to make decisions about their future and how they will operate in a new world.
Can you work with them to negotiate the future of work and retain a valuable office asset? To find out, take the first step in the adventure…
One of the key factors that will affect the future of the office is how companies and their employees balance working in the office with working from home or elsewhere. What policy will the tenant of your office building decide and how will he make that choice?
If you think this will bring in staff five days a week, click here.
If you think this will go completely remote, click here.
If you think he will adopt a hybrid policy, click here.