NG’s annual survey shows that tenants are on the move
3rd September 2021
NG has just issued the results of our annual online property survey, and the results thrown up something of a call to arms for landlords – or a wake-up call, depending on your viewpoint.
Over 87% of respondents to the poll confirmed they are actively looking to renegotiate terms with their current landlord in the next 12 months – and if these fail then are looking at relocation options.
And here’s the real kicker: it’s not about price; that’s only influencing a relatively small percentage of decisions. The biggest drivers are the future facilities being offered by landlords in terms of a new office environment.
Meanwhile, location is still a big driver with more companies looking at city fringe/suburbs than city centre, technical infrastructure is a major factor and sustainability is starting to influence decisions.
The influence and advice provided by a tenant’s property agent is also a big driver in future decisions.
On the upside, life is returning to the office sector with almost 69% of respondents confirming they have been working from the office during the last 12 months.
Over 81% of respondents thought their company would need to make alterations to the office space to facilitate full time return to work which highlights the inadequacies faced by the majority of office stock.
Interestingly, over 62% of companies will continue to offer remote working post-Covid. The biggest challenges facing return to work are tied at 37.5% each over employees health/wellbeing concerns and a desire to remain home-based.
Word to the wise landlords and employers: you need to create something that makes people want to come back rather than you forcing them to. Office occupiers want the new normal office space to offer far more than ever before regarding sustainability and a place to collaborate and swap ideas.
It certainly looks like we are at a tipping point as our survey respondents indicated 50% of companies could happily operate remotely all of the time, 43.75% said they couldn’t and 6.25% were undecided or unsure.
If you’d like to investigate the findings of our annual survey further, please get in touch with Richard Sutton on 07977 121340 or at [email protected]