Developers need to understand demands for physical and mental wellbeing in the office to meet occupiers’ expectations, according to the latest CMS UK Real Estate Report.
The survey of 1,000 UK office workers and 350 real estate professionals showed that 86% of workers said that work-life balance was the most important factor in choosing a job and that the office had a significant impact on their wellbeing.
However, the CMS report revealed a disconnect between what occupiers expect from their buildings and what workers want. For example, more than half of workers said wearable technology that monitored their wellbeing was appealing, while only 7% of property professionals thought it was.
Ciaran Carvalho, head of real estate at CMS, said: “Today, the average office worker spends more time in the office than ever before and being happy and healthy in the workplace have become the big issues concerning them and therefore their employers.
“From developers to investors, these concerns have become paramount in how they create, design and invest in offices.”
With 75% of the workforce set to be millennials by 2025, developers need to ensure that they understand their changing needs.
Flexible workspace was another major demand from occupiers, which means developers need to cater for a range of working styles across a number of generations. Some 94% of millennials liked working in open plan offices, but 73% also enjoyed working in cellular spaces and a similar number liked working from home.
Outlook for the UK and London
Outside of focusing on occupier demands, the report surveyed real estate professionals on their thoughts on the UK and London’s market outlook.
Around 29% of respondents said they were optimistic about the UK – up from 14% last year – while 48% were neutral, reflecting a more positive but still cautious outlook on the country more than a year on from the EU referendum.
Michael Spies, senior managing director of innovation at Tishman Speyer and one of the respondents in the report, said: “Uncertainty in any form affects decisions and where possible these will be deferred. Despite this, I believe that London will remain a major international marketplace and an important global city.”
To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @ktomusk or @estatesgazette
