Office properties must adapt to the new hybrid working environments and redefine themselves accordingly. Which trends investors should keep an eye on.
The gap between sustainable office properties with attractive location and space qualities and buildings that are no longer in line with the market is likely to widen further and further. This is because mobile working and the associated hybridization of the world of work have permanently changed working methods and work processes. Currently, the discussion about presence days in the office is gaining importance again, but a balanced approach is likely to prevail that allows for both flexibility and team presence. In principle, there is a uniform commitment to the need for joint presence in order to promote cooperation and strengthen the sense of community. This development is also likely to be reflected in the design of the office space. Outdated buildings that no longer meet modern standards and the requirements of tomorrow’s working world are increasingly being sidelined.
Demand for top properties continues to rise
This is also made clear by the “Future Office” study conducted by the Fraunhofer Institute for Industrial Engineering IAO on behalf of Union Investment and the Momeni Group. For this purpose, both top decision-makers from various industries and office workers in Germany were surveyed representatively. According to the study, the demand for first-class office properties in good locations that impress with sustainable design and attractive architecture is increasing. 85 percent of the decision-makers surveyed emphasize that they will continue to rely on attractive urban locations in the future. High-quality locations and future-proof properties with special service offerings and an attractive environment are considered the key to success for companies.
Situation before loyalty
No wonder, because 24 percent of the office workers surveyed said that they would change employers because of an attractive location, regardless of where their office is currently located. Proximity to leisure and service offerings, especially gastronomic facilities and shopping facilities for daily needs, but also to health services, plays an essential role for most office workers. This means that office properties can also score points over the home office.
Working outdoors is in demand
Optimal accessibility by public transport and Deutsche Bahn, but also by car or bicycle, as well as an urban environment are essential for office workers. Accordingly, 93 percent of decision-makers see proximity to public transport as the most important criterion for their choice of location. This includes, above all, working outdoors. A clear majority (71 percent) rate the possibility of being able to work on a roof terrace or in a garden, for example, as the most attractive “extra”. This indicates an increasing need for common areas that can be used flexibly for various work and recreational purposes. Office workers and decision-makers value an environment that is both appealing and functional. From the point of view of the respondents, the office workplace will remain indispensable as a central place for communication and collaboration in the future.
For those interested, the complete results of the study are available on request.
