Last Tuesday, Lee Elliott of knight frank was in our office to give a presentation about the (Y)OUR SPACE report. The day consisted of 2 sessions, 1 morning session called Coffee&Croissant and Chat, and 1 afternoon session called Sandwich & Smoothie and Small talk.

Lee discussed the current trends in the real estate market. Together with tenants and owners/developers we brainstormed while enjoying croissants🥐 and sandwiches🥪.

Presentation LEE

SUMMARY

The great global workplace experiment has some way to go
Debate about the direction of travel will intensify
Complexity and variance in the workplace response is a given
Unless driven by lease events, occupiers will buy time & focus on delivering compelling workplaces
Sentiment likely to weaken further amid global economic conditions
That could well drive one or more of the following:
- Some staff back to the office
- A rebalance of power between employer and employee
- A stronger focus on cost control / mitigation
- offshoring of activity
- An attack on space held within portfolios, if utilisation remains low
  The 4 s’s remain key but with growing focus on aligning real estate to sustainability strategy / commitments