Green Office Space Shaping Future
The office space of the future will be shaped by tougher environmental legislation and its ability to incorporate advancements in technology, this is according to research commissioned by the British Council for Offices (BCO) which also suggests the increased possibility of more office space becoming obsolete.
Part of a wider study conducted by the BCO and the Investment Property Forum (IPF), the research suggests that the impact of these factors on architects, developers and the occupiers of office space will create a knock-on effect on the level of investment being directed toward new commercial property developments.
“The report highlights growing concern over the amount of existing office buildings that may become obsolete as they fail to meet environmental regulations, which has major implications for investors in the future.” explained Sue Forster, Executive Director at the IPF.
Also assessed within the report was the role currently being played by the office, revisiting the numerous predictions of the 1990ΓÇÖs that suggested the traditional office would be ΓÇ£deadΓÇ¥ because of a mass shift toward home and mobile working ΓÇô predictions which have failed to become a reality with only 2% of the UK workforce reported to be working from home.
Commenting on the researches findings, Neil Thompson, Portfolio Director, at Great Portland Estates explained that:
“The research demonstrates that offices will continue to be central to our working lives and offers a pragmatic discussion of the key issues that will shape office development in the future, including the infiltration of the home into the office, the impact of increasingly rigorous sustainability legislation and the outlook for investment in the office sector.”