If you’ve recently returned to the office, you might have noticed some changes.
Perhaps there’s a new state-of-the-art gym, a rooftop garden, or a café with an ever-expanding single-origin offering?
Or maybe the layout has been reconfigured, offering a mix of collaborative spaces and quiet zones?
Perhaps you now have access to cutting-edge technology that makes hybrid meetings seamless or there’s EV chargers in the basement?
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These improvements aren’t just happy coincidences. There’s a clear motive behind these workplace enhancements, and it’s not particularly surprising: companies and landlords want you back in the office.
However, the benefits of work-from-home are well documented, so both forces have a challenge on their hands.
Shifts in employee preferences
Commercial landlords are particularly keen to see offices full again. After all, empty offices mean lost revenue, and the numbers aren’t looking good.
In 2023, the average office lease length in the UK dropped by 34% since 2019, while in Central London specifically, the average lease length was 5.5 years in Q1 2024, down 5% on the long-term quarterly average.
Ten years ago, the average lease term was 6.8 years, and 20 years ago, it was 9.3 years, showing a consistent decline.
Size is also decreasing. Just 13% of Central London office space deals transacted in Q1 of this year were over 10,000 sq ft, compared to 21% in Q4 2023.
The most common size range opted for in Q1 2024 was 500-2,500 sq ft, representing 46% of the deals transacted. This means the average deal size is now 20% below the long-term quarterly average, resulting in smaller office footprints.
Employee-centric solutions
A solution is to make the office a place people want to be, and this is where the work space improvements come in.
By enhancing the office environment, companies and landlords hope to entice employees back. But what does this mean for employees?
On one hand, these improvements can significantly enhance the work day. Improved technology can make doing your jobs easier, while wellness features like gyms or relaxation areas can support overall wellbeing.
Moreover, these enhanced offices often foster a sense of community that many of us missed while working from home. Spaces designed for collaboration can spark creativity and innovation, while lounge areas can facilitate spontaneous conversations.
However, it’s important to approach these improvements with a critical eye.
While a beautiful office is nice, it doesn’t necessarily address the reasons why we might prefer working from home. Issues like long commutes, the need for flexible hours, childcare or eldercare responsibilities aren’t solved by fancy new coffee or networking events, unfortunately.
Although some landlords do have partnerships with local businesses offering meaningful discounts or on-site services that can actually matter. Think childcare and laundry, for example.
Practical support or perks?
If work space improvements are happening in your company, it’s worth considering whether these truly enhance your ability to do your job effectively. Do they support your work, or are they just nice-to-have perks?
As we navigate this new landscape of improved offices, it’s crucial to advocate for changes that genuinely benefit you. This might mean speaking up about the types of improvements that would make a real difference to your work life.
Perhaps it’s not just about physical amenities, but also about policies that support flexibility and work-life balance?
Remember, while the motive behind these improvements may be to get us back to the office, the end result should be a workplace that truly works for everyone.
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If your office has improved, that’s great – but don’t be afraid to push for changes that go beyond surface-level enhancements.
In the end, the best office isn’t just about the fanciest amenities. It’s about creating an environment where we can do our best work, collaborate effectively with our colleagues, and maintain a healthy work-life balance.
By focusing on creating value and addressing the evolving needs of businesses and their employees, landlords can make their office spaces more compelling than the fluorescent-lit grey cubes many workers left behind in 2019.
Whether you face a return-to-office mandate in a space that falls short of modern standards, or in a fully-optimised, tsjuzed up co-working space, it may be time to find something new, if true flexibility and a focus on employee wellbeing still remains lacking.
Keen to land a new role? Visit the Metro Job Board today for hundreds of roles all across the UK.
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