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What will the Office, Shop or Commercial Property scene look like in years to come?
Date: May 10, 2021
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Q&A Monday | Season 3 | Episode 2 | Question 7
What do you think the office, shop or commercial space of 2022 and beyond will look like?
Jim: "I think the answer is different for each sector.
Because you usually have to go to industrial premises to make something the industrial, and incidentally the construction sectors, have been pretty unaffected by COVID. They have obviously had to implement social distancing and things like that but otherwise, they have been relatively unaffected and the whole of the industry has carried on making and producing during this time. In the middle of things is the office sector, for some they have carried on regardless and some others have rethought how they are going to do things in the future.
In overall terms, it wouldn’t be a stretch to assume the demand and total space occupied by office users across the country is going to reduce. There’s been a lot of speculation about how much the reduction will be, which I think is probably an impossible question to answer. As just because you have 25% of your workforce now working from home doesn’t necessarily mean 25% of your workspace currently becomes available.And underlying all of that you have the growth of individual businesses and the growth of the economy over all." If you would like to catch Jim’s full answer on this question and many others around commercial property, click on the link below to watch his Q&A episode.