The landscape of the office has changed beyond recognition, with many forecasters looking at what COVID will mean for future planning. In fact, a report cited by Instant Offices listed a 50% drop in demand for UK office space, as businesses look to offer more flexibility to staff.
Estimates of a vacancy rate of 4.5% means there could be 57 million square foot of empty commercial office space in the UK. It amounts to 50 times more than London’s O2 arena.
However, there is optimism of recovery, by adapting to demand and embracing flexible solutions that can bring improved productivity, wellbeing and sustainability. It’s something that we are passionate about at Perrymead Estates, and is the motivation behind our development of Stoney Street Studios.
The future trends predictions include:
- Half the workforce could become remote
- Demand for flexible office space could outstrip supply
- Tech integration will monitor employee wellbeing