As we progress into 2022 and beyond, corporate executives and real estate professionals continue to consider what the future of work will look like. Whether you’re a property owner, investor, developer, or manager doesn’t matter. How the pendulum swings in the workforce’s future impact how the real estate industry operates and thrives. Therefore, it is imperative that we carefully examine what the future of work means for real estate and adapt to it accordingly.
There is a new era for commercial office space
Commercial office spaces will see new and exciting opportunities despite all the uncertainty. No matter how or where people choose to work, they’ll always need a workspace. Almost any commercial property can be adapted to serve as a co-working space. “The opportunity to invest and build co-working spaces is one that commercial real estate investors and developers should take advantage of,” says Senior Property Manager at Axis Property.
It was inevitable that the need for commercial office space declined over the past few years; however, the decline varies from industry to industry. Commercial buildings that cater to tourism and leisure have had the worst effect, while technology and e-commerce are already more likely to accommodate virtual work. People and the government of Australia have finally come to terms with the fact that a country’s economy won’t improve with technological advancements alone, which is why the need for commercial office space is increasing, and the sale & lease of that space is highly pushed.
Business owners have also realized that commercial office spaces present a professional image. If a company only has a home office, potential clients tend to assume it’s too small or not professional enough to accommodate their needs. It is necessary to have space to allow your business to grow. With more employees and clients, monitoring your day-to-day operations from one central location will become much more efficient. Additionally, expanding without a commercial office space can make engaging in consistent client and employee interactions difficult.
Working remotely has its perks, but most employees prefer to be able to separate their work and personal lives. Working in an office fosters teamwork and increases productivity. Promoting teamwork and friendship between co-workers in a commercial office space is also easier. This environment, in turn, motivates to achieve company goals and encourages higher levels of productivity.
Commercial office space is being reconsidered more thoughtfully and flexibly. It’s difficult to predict how many companies will restructure their head offices, especially as our work environment is constantly changing and adapting but having a commercial office space is imperative. Many busy entrepreneurs work nights and weekends and are confined to their home offices. Having a commercial office space where they can hold meetings and enjoy high-speed Internet and other building amenities could be a welcome alternative and the best utilization of the space, and it could also centralize energy costs, helping companies measure their ESG efforts.
If you’re looking to market a commercial property for lease or purchase, Axis Property provides potential customers with a fully immersive and detailed picture of the space. To find out more about us, please get in touch at mail@axisproperty.com.au.