This is why landlords should adopt flex into their portfolios
Mark Bott, Head of Serviced Offices for Colliers International UK, tells Bold Founder, Caleb Parker, why he believes landlords should incorporate flexspace and coworking footprints in their assets on this third episode of the #WorkBold Podcast.
Value Bombs and Tweetables
- Serviced offices now offer the amenities that top tech companies provide to employees. As a result, these operators have become more attractive to corporate occupiers.
- Buildings should offer space-on-demand. Some of our corporate customers say to "We will disregard any building that doesn't have an element of flex in that building."
- Some flexspace operators have diversified into providing Front of House staff for buildings. "We all know that the first impression counts in anything!"
- Hotels investors have restaurants and bars as an amenity to attract guests. There's a shift towards the office market when landlords are developing an asset to include Space-as-a-Service amenities.
- The challenge around commercial real estate is around building valuations. Space-as-a-Service footprints should range between 10-20% of the gross square feet of the building so it doesn't affect the valuation.
- The burden of responsibility is shifting from the corporate occupier to the building operator when it comes to providing services to building users.