The changing landscape for city office spaces
Fewer than 8% of Brits had experience working remotely at the start of 2020.
Within a matter of weeks, this figure rose considerably as businesses scrambled to meet new demands and challenges, with 46.6% of the country’s professional workforce ‘clocking in’ from home across April and May – rising to 57% in London.
This month, the government will be encouraging more and more firms to return to their offices, addressing a very real concern about the economic toll remote working has had on city centres.
High streets up and down the UK are all but empty of foot traffic, meaning that small businesses will continue to struggle to stay in business over the coming months.
Whilst acknowledging the merits of home working, Dame Carolyn comments on the role the UK’s offices play as “vital drivers” of the economy, suggesting that:
"The costs of office closure are becoming clearer by the day. Some of our busiest city centres resemble ghost towns, missing the usual bustle of passing trade.”
Is remote working here to stay?
It’s estimated that those working from home have racked up an extra 28 hours of monthly overtime during lockdown, which adds up to almost four days’ additional work.
The chief reason for this being that 86% feel it’s a necessity to prove their value to their employers and ultimately keep their jobs.
Although remote working has put a strain on the country’s commercial hubs, with employees equally feeling more workload pressure, there’s an evident shift in mindset amongst professional workers towards flexible opportunities.
Of those asked, only 7% would opt to work full time without any element of remote working.
Compared to 93% who would want at least one day a week from home.
Whether you’re in need of a new home with dedicated office space, or you’d like to find out what commercial properties are available, talk to us.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
Your guide to investing in multiple-occupancy homes
Investing in multiple-occupancy homes (HMOs) can be a great way of increasing yields, making them very attractive investment opportunities for landlords.
Landlords! When was the last time you booked a rental valuation?
Rental demand still outstrips supply in the UK, and your property is unique, which is why it’s important to understand its true rental value.
Have you double-checked your tenancy agreement?
When you have found the perfect rental property for you, it can be very tempting to sign on that dotted line in a hurry.