Challenges and Opportunities for Corporate Occupiers in Return to 'New Normal' Hybrid Office Working

Paul Greenhalgh, Kevin Muldoon-Smith and Jane Stonehouse

ERES from European Real Estate Society (ERES)

Abstract: Before the global pandemic a lot of the hype surrounding new offices was around flexibility, proximity (co-working) and agility. The Covid-19 pandemic has accelerated changes in office markets that were already established including hybridity. Post pandemic, office occupiers have been re-calibrating their office requirements and re-imagining what the 'new normal' office looks like. Proximity is less favoured in our new socially distanced world. Flexibility is still important in accommodating new or adjusted ways of working, with an emerging emphasis on creating spaces that support value-added activities that require people to meet and work together (safely) instead of the more routine, solitary or other activities that can be conducted remotely. The research explores the changing demands of occupiers through case studies of organisations that procured new office accommodation pre-covid only to have their office move delayed when the pandemic and subsequent lock downs were imposed. This permitted organisations the opportunity to re- evaluate their pre-covid office layout plans and adapt them in anticipation of returning to a 'new normal' mode of office occupation. The research will explore the extent of and rationale for adjustments made to pre and post pandemic office layouts to identify the subtle changes that are emerging in corporate office occupation.

Keywords: Flexibility; leasing; occupation; Offices (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-isf
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