With the majority of us working from home over the past two years, the return to the workplace has seen our appetite change when it comes to what we want from a work environment. Trends we had forecasted for the next few years accelerated at faster speed than anticipated, due to the transformative shift in the way businesses and their employees utilise the workplace.
As one of the UK's leading asset and property management companies, we knew our office proposition was going to need to adjust to the current business climate to keep up with modern market demands.
Market analysis
We undertook extensive local research and customer listening in order to adapt our office spaces in the way that best befits our customer base and geographical hotspots. We identified demand for quality and refurbished workplaces, with greater focus on breakout and wellbeing areas, welcoming receptions and front-of-house support.
We also discerned a change within the client-landlord relationship. We predicted the onus would swing to landlords to engage with each client and evaluate each space to create tailor-made solutions. Gone would be the days when the tenant would unearth the perfect office with the exacting specifications already created for them. This new landscape would require a different strategy and one which sees us develop turn-key solutions for our clients, support their growth and build relationships based on a clear understanding of tenant needs.
Showcasing renewed assets
Armed with this intel, we set about refurbishing our office portfolio in partnership with our clients and this formed part of a 300k sq ft whole asset investment programme across both office and industrial markets.
We unveiled a major refurbishment at 3 Newbridge Square in Swindon in August and further north in Coventry, Friars House also formed part of our investment programme. The upgrades have been purposefully designed to provide businesses with a flexible setup and layouts that accommodate different operational requirements in an accessible location.
Down south we have created a modern and appealing space at Hyde Park House in central Ipswich, separating a collection of larger suites into a series of smaller offices in response to local appetite.
An agile response
While the trends we’re now witnessing have been on the horizon for years, these changes were expected to take 15 years and not come into play overnight. However, we are agile and adapted quickly to the new marketplace and have a further 2m sq ft in the refurbishment pipeline. These include the 82k sq ft Duo office building at Opus 40 Business Park and the 77k sq ft Frobisher House development at Nelson Gate in Southampton.
We also have transformations imminent at Lynch Wood Park in Peterborough, Cherry Tree Court in Hull and 1 Newbridge Square in Swindon.
We’re proud to have maintained our ability to offer businesses large and small, the length and breadth of the country, with the space and services they need to survive and thrive. This remains an unprecedented period of time and we will ensure our office portfolio continues to evolve in line with changing demand.
Click to find out more information about FI Real Estate Management’s available office space.