New joint research from the City Property Association and City of London Corporation highlights the challenges and opportunities awaiting property developers as the technological revolution continues to weaken the traditional link between economic growth and office space demand.
Previously, the lack of mobile technologies kept workers chained to their desks for routine solitary work, but as work has been redefined as an activity rather than a place, the office has become somewhere to visit and interact with colleagues and clients. Able to remotely tackle routine tasks, the City’s young, highly mobile, and highly skilled workforce now requires an office environment that enables team-based working, space to meet clients and constant connectivity. Flexible, interactive spaces also help provide an environment which maximises productivity, critical to the success of businesses large and small.
The research, authored by Ramidus Consulting, shows that creating this modern office environment is crucial to supporting the City’s continued global success. More than 75% of the City’s office space has been built or refurbished since the mid-1980s – but this report highlights practical steps property managers and developers can take to ensure that the City’s office buildings and designs are fit for the future.