Sustainability is no longer a “soft” issue.

More than 80 per cent of property professionals agree that sustainability will be the highest-priority strategic issue facing those who decide the shape of Yorkshire’s office real estate over the next decade, according to Jones Lang LaSalle Offices 2020 research findings.
From The Telegraph & Argus: Jeff Pearey, head of the firm’s Leeds office, who also heads the national office agency team, said: “Sustainability was once seen as a soft issue on the periphery of business strategy but this has now changed. We now have case studies where sustainable changes to buildings have improved employee productivity.

“A sustainable building will quite quickly become a prerequisite for prime property. Consequently, we expect the pricing gap to widen between sustainable and non-sustainable assets during the next few years.”

He added that while older, less-sustainable buildings may offer lower rental costs, any savings are likely to be offset by higher operational costs duie to rising energy prices.

“Employers cannot neglect the increasing ‘social’ aspect of sustainable real estate. During the next ten years we expect productivity, employee satisfaction and sustainability to become intrinsically linked. We expect business managers to place greater emphasis on the social value of sustainable real estatem,” said Mr Pearey.

The survey also highlighted that new technologies would continue to shape how people work and the amount of office space they need as corporate occupiers strive get the most from their premises and investors and developers seek long-term value.

However, the report adds that, while technology will continue to shape how offices are used, the speed of implementation will be slower than many have forecast as it will be restricted by issues including the reliability of some new products; initial investment costs; cultural and office changes required in adopting new technologies; data protection and security issues and the varying needs of different sectors.

Jeff Pearey said “Certain older, but well-located offices could become more marketable as new electricity and wireless technology can simplify refurbishments by eliminating the need for floor voids.

“Tenants will also consider lower specification if the framework enables customised technology use and flexibility. We also see corporates introducing measures to protect against risks of technological obsolescence an example of which is giving staff budgets for their own technology.

“However, embracing this technologically-driven change to the workplace takes time and is often a shift in culture. It will take time and resources to help staff to adapt.

“Although the days of cubicles, cellular offices and being able to smoke at your desk are long gone, the office will remain an integral part of commerce. Developments such as cloud computing, tablets and smartphones are effecting overall space requirements in office buildings but offices will not vanish as the need for collaborative space will increase.”

via: greenpointpartners