Uncertain times for commercial property

Mark Carney, Governor of the Bank of England, announced two days ago that the economic fears held before the EU referendum, including those relating to commercial property, were beginning to crystallise. Following his remarks, the Global Head of Real Estate Research at HSBC, Stephen Bramley-Jackson, said yesterday that, “the suppressed activity levels in UK commercial real estate… will now likely extend for the remainder of 2016, and probably beyond“.

So, what does this mean for businesses that are thinking of relocating to new premises, either as part of their plans for expansion, or to achieve other corporate objectives?

As an alternative to relocating, we recommend in this period of uncertainty that businesses instead look to explore the full potential of their current working environment. In our 43 years’ experience in office interior design and fit-out, we have seen many highs and lows in the commercial property market. We have also often been approached by companies that had been looking to achieve specific aims through relocating but, given a change in external circumstances, decided to try to achieve those aims while remaining in the same location.

This does not have to be seen as a fall-back position. In fact, it can be a really positive decision to make. Many of the businesses we have worked with have been amazed at how well their aims have been achieved by the solutions that we were able to offer.

These have included improving the use of space to encourage communication between not only teams but also individual team members; repurposing working areas to create greater efficiencies; and introducing new materials and design concepts to transform the aesthetics of what had been tired and outdated surroundings.

If you are considering an office move but might be interested instead in looking at upgrading your current premises, please contact us for a consultation. We will be happy to help you determine if a complete relocation is necessary, or whether in fact your current building contains as yet untapped potential.

Glenside’s space planning and office design expertise enabled a leading organic food wholesaler to expand their operation and enhance their working environment without moving premises.