Offices May Look Different, But Won’t Be Going Anywhere

New Zealand companies are reevaluating their real estate strategies to accommodate the changing needs of the workforce in the wake of the pandemic.

The office sector has already seen a slowdown in leasing activity and could continue to take a hit over the next few months

Despite this, JLL Asia Pacific CEO Anthony Couse believes that while corporate real estate will likely change, the office will also remain an essential part to a company’s strategy.

Still, offices will have to undergo major changes in order to meet the needs of today’s workforce. Having an emphasis on health and safety will be vital and beneficial for both the employer and employees.

“Current office configurations may be modified, increasing the need for additional space,” said Graham Kristiffor, JLL NZ Head of Office Leasing. “In doing so, occupiers may consider tapping into flexible space from third-party operators, alongside continued remote working for some employees.”

The shift towards a more wellness-oriented workspace has been happening for a few years now, but now the stakes are much higher with no vaccine available yet. Trends to emerge from the need for a healthier workspace will include densification, increased sanitation and an extra effort to keep workers communicating.

Kristiffor added that while remote working has undoubtedly helped workers find a healthier work-life balance and offered them more flexibility, it is hard to replicate the collaborative opportunities and social interactions of a physical office.