Modern companies, particularly in the high-tech sector, want grade A office accommodation adapted to working practices that are different from more conservative companies.
One example of this is the Cadworks office in Glasgow, which features Scotland’s first cycle ramp that provides direct access to the building for workers commuting by cycle.
Nowadays, expanding companies do not want to commit to a long lease. They prefer to rent space in flexible offices and rent more space as they grow.
Many businesses want what is termed “agile” office spaces. These spaces cater for how people work at different times. They want quiet booths for confidential phone calls, areas to meet and collaborate, and spaces to relax in. Workers do not necessarily need an assigned desk. When they want to work at a desk they need to be able to choose any desk with a laptop docking station.
To attract top class tenants, landlords need to look at how they can adapt their buildings to cater for the various ways that people work. Some companies want better facilities, including high-speed broadband, eating areas and gyms. Others want offices to be empty of furniture and fixtures so they can create their own style and identity.
To appeal to innovative companies, a landlord needs to research what modern companies demand from their office building.
There are several ways to finance the purchase of new office buildings and office renovations. A broker can arrange a commercial mortgage or a bridging loan.