What will the office of the future look like?
Offices of the future will need to combine flexibility, connectivity, collaboration and activation if they are to attract tenants in an increasingly competitive market, according to the latest Colliers Radar.
“Tenant expectations are having a significant impact on the latest generation of office buildings, forcing owners to adapt or risk their buildings becoming uncompetitive or obsolete,” said Denis Coupland, Managing Director of Real Estate Management at Colliers International.
“It’s not enough anymore for a building to be close to public transport, have the latest technology fit-out, deliver thermal comfort and provide high levels of natural light. For many tenants these criteria only meet the basic expectations of their employees.
“The office of the future will bring together the key elements of flexibility, connectivity, collaboration and activation.”
The office of the future will put its occupants at the centre of everything.
“An ever increasing percentage of occupiers are striving to provide high performing environments that create a sense of community, place and purpose,” said James Armstrong, National Director of Workplace Management Services.
“These spaces are blurring the lines between work, play, shopping and stay. The most important element to consider is the people. The people experiencing the space and the people delivering the highly curated experience.”
A significant factor in the changing expectations of the workforce is the rise of the millennial worker who by 2020 will make up 50 per cent of Australia’s workforce.
“The changing nature of both work and the workforce is having a profound impact on the office buildings of today and informing the design of the offices of the future,” said Kristina Mastrullo, Manager of Research at Colliers International.
“For existing offices activation is key to becoming future-fit. Additional amenities like retail, casual meeting places, end-of-trip facilities and child care centres deliver a competitive edge.
“Flexibility in the workplace has extended to lease flexibility. While traditionally the domain of start-ups and small businesses, the flexibility offered by formats like WeWork has permeated the office market.
“The drive for collaboration is leading to new and innovative concepts like vertical campuses, with large organisations consolidating their workforce in one location. The centralisation of employees in large business parks has led to mixed-use buildings which blend non-office and office work together.
“Changes in technology, like the shift to mobile and the use of external data centres, has opened up floor space for increased collaboration, as well as meeting and social needs.”
Read the full report here