COMMENT: This week marked the second anniversary of Boris Johnson’s work from home order, introduced to curb the spread of Covid-19.
The ensuing months saw a ‘death of the office’ narrative spread, but the past year has taught us that it is anything but. Take this week’s announcement that tech behemoth Apple has taken more space at 22 Bishopsgate, EC2, as a proof point.
Instead of abandoning the office altogether, the pandemic has forced developers and operators alike to fine-tune their business models and offerings to adapt to a new way of working and living.
Stranded assets
The past two years have also seen ESG rise up the corporate agenda, with companies quickly realising that while the current crisis may be bottoming out, climate change is still knocking on our doors.
Regulations on the energy performance of buildings are tightening from 2023, and only one in 10 London offices meet the standards that will be imposed from 2030, according to Savills. Pressure is also building on developers to refurbish existing stock rather than build new, which is a far more carbon-intensive process. The matter is that if your asset isn’t compatible with a net-zero world, it will quickly become stranded.
While developers today are charged with creating net zero buildings that also offer an ROI to their investors, workspace operators and organisations across all industries and of all sizes are charged with delivering workspaces that push the boundaries of social fabric – ultimately promoting a positive working and social experience for all employees, or members. The real key to collaboration and culture is through the ecosystem you create.
Bigger picture
Creating offices is easy. You need a building, good architects and designers, and the right range of office furniture. Making somewhere people want to come and work, however, is an entirely different challenge.
The future of the office is not necessarily about flexible design or hybrid operational models, but around the company you keep. Many high-profile companies now boast ‘flexible working’, but only because the government has mandated them to do so.
However, employees want more than flexible rent pricing and hot-desk options. They want to feel part of something, to have an engaging and fresh workspace experience. In today’s world, the commute is only justified when it leads you to an exciting, dynamic workplace and a space that offers you more than what your work-from-home setup ever could.
If we learnt anything from the pandemic, it was the power of osmosing, collaboration and skill-sharing. Teams which don’t get together can’t create the same bond and cultural dynamic as those which do actually see each other.
The office is anything but dead. We’re seeing polarisation – Grade-A, sustainable space will fetch a premium, while less energy-efficient buildings will become obsolete. But sustainability is only one part of this. 2022 is the year of social value in the workplace. From the sustainability of the building itself right the way through to job creation, neighbourhood and local-area development. While the remit is broad, every workspace operator or occupier must think about the bigger picture now rather than later.
Gabriela Hersham is co-founder and chief executive at Huckletree
