The idea of prime and secondary locations is “a myth”, Robert Noel has said at the EPRA conference in Paris.
In a panel discussion about the future of the workplace, the Land Securities chief executive said that the function and flexibility of an office building is more important than where it is based.
The emergence of King’s Cross, he said, came from the area providing offices that catered to people’s demands for greater flexibility.
Noel said: “Primary location, secondary location – it’s a myth that has already been blown up in my market. In London, it doesn’t matter where you are.
“As an office space provider, we have moved from thinking about the people who occupy our buildings. Twenty years ago, they were tenants.
Today they’re customers. In 20 years’ time, they will be guests.”
His comments followed a presentation by Martin Laws, lead partner for occupier consulting at Deloitte, who said that after salary, the biggest concern among millennial workers was work-life balance and flexible work environments.
That demographic, Laws said, will make up 75% of the workforce in 2025.
The panellists said these trends will lead to shorter lease lengths and the office providers will have to respond in kind.
“The market is very fleet of foot and flexibility is required,” Noel said.
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