The smart way to use corporate real estate

Debra Ward

Corporate Real Estate Journal, 2016, vol. 5, issue 3, 205-212

Abstract: Managing and optimising real estate is a challenge that faces every business. Real estate is the second highest cost for operating businesses, so ensuring that space is being utilised is a top priority for most companies. Condeco studies have identified that workspace can be underutilised by up to 60 per cent, which equates to thousands of pounds in wasted space every day. As impending real estate costs weigh heavily on an organisation's bottom line, it has become more important than ever for executives to measure the value and utilisation of their office spaces. Analysing what types of workspace a business requires is the next challenge. Determining spaces that people actually need is often ignored and drastic corporate real estate decisions are made without adequate analysis, which can be costly and counterproductive. Before any changes are made to the physical space, three key business triggers should be identified: people, place and performance. This paper explains how to gain this information quickly and accurately, and even more crucially, what to do with it.

Keywords: workplace; real estate; utilisation; technology; measuring; planning; room scheduling; room booking software (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2016
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