The construction industry is on the road to recovery, but progress has been overshadowed by what some industry analysts describe as “a perfect storm”. Fears about the global economy and uncertainty over the outcome of the UK’s upcoming referendum on EU membership have the potential to worry investors, and several have already responded by putting their projects on hold.
Change is also being driven from within the capital. Residents are about to elect a new mayor of London, and the policies implemented by Boris Johnson’s successor will have a significant impact on the way we manage the built environment.
While designers and developers are undoubtedly influenced by, and are often at the mercy of, economic, social and regulatory factors, I am cautious about waiting until we have total clarity before making plans for the future. Many of the challenges we face will still demand action, regardless of the way people vote or the ups and downs of the market. They are the result of changes in people’s expectations of the buildings we create and the value they perceive as stemming from good design.
In the office sector, clients and tenants are calling for flexible and efficient spaces that encourage innovation and collaboration, increase productivity, and enable employees to interact with their environment in new ways. Advances in technology and a greater focus on lifestyle, particularly wellbeing, means the workplace of the future is quickly becoming a reality now.
It is not only about needing a fresh perspective on space. Organisations are changing, and their real estate portfolios help them communicate to the world their culture, priorities and the importance they place on their people.
In addition to meeting the needs of established firms, ambitious start-ups, particularly in the tech sector, are challenging us to think differently about what an office is. A recent Cushman & Wakefield report, titled Office as a Service, describes London as being “at the forefront of co-working” and estimates that there are 280 co-working spaces across central London, with the number rising daily. Co-working is not just about the physical space; it is about what a flexible and stimulating environment helps a company to do.
This shift away from bricks and mortar to a more enabling approach has implications for us all, whether we are designing, constructing, selling or leasing commercial property. These challenges will be one of the topics debated at the British Council for Offices conference in Amsterdam next month. I will be joining colleagues from across Europe to discuss the path towards a sustainable future – are we going in the right direction, or does our approach to the creation and development of workspaces need a radical rethink?
The decisions made over the next few months, as well as external forces, will affect the construction industry and the future of the capital, but I am optimistic about the opportunity we have beyond that. We have a successful commercial property sector, but maintaining its world-leading status will require us to innovate.
Ken Shuttleworth is founder of Make Architects
