Commercial to residential conversions continue creating a shortage of office space, most prevalently in London, 68 per cent of those surveyed believe that the office market is, in fact, slowing.
There are three main developments which those surveyed expect will be the most likely to encourage investment across the regions over the next five years. While the usual culprits were all ticked, narrowing yields in London was at the forefront, with 67 per cent believing this would push many to the outer regions of the UK. Two other notable aspects which would encourage regional growth were government led transport options and changing work practices.
Transport links are increasingly coming under fire from tired and harassed commuters, so it’s no wonder we are expecting to see possible changes or the degradation of transport links as a major influence on both people and companies moving beyond the city line.
The changing of working practices too is seeing a recent spike in popularity, with many companies and offices encouraging staff to work from home at least once a week. Meanwhile, ‘flexible’ working options are now being touted as the best way to get the most from your workforce.
This is very prevalent in RSM’s 2018 results, with 85 per cent of respondents believing that to cut costs businesses will increase their use of serviced office space, and encourage working from home.