DB Interiors say flexibility is the key to the future, and they are keen to assist with the design, from concept to completion, of a flexible workspace for you. Currently most offices are still largely traditional, with the tenant committing to a multi-year lease with limited options to expand or contract during the committed term.
The increased demand for flexibility, combined with an overall increase in vacancies have led commercial property owners to further look into partnering with operators to provide the amenities that tenants want through partnership models, be it management agreement or franchise, or getting into flexible workspace management themselves.
The key to flexible workspace is to consider the provision of office space no longer as a leasing model but rather a service model, and the key driver for demand from an occupier perspective is flexibility. Where typical leases would provide for five-to-ten-year commitment, flexible workspaces offer tenants the ability to scale up and down sometimes at a month notice. This change requires designers to focus on designing fit outs that are versatile, and can easily be transformed at a minimal cost.
Due to the on-demand nature of flexible workspaces, they provide the user with a 100% utilisation. Considering total workplace costs are generally 7% of a company’s total costs, an occupier can significantly optimise office utilisation by incorporating flexible workspace into their portfolio. From a landlord perspective this means that they can provide a lower cost option to tenant while still receiving higher rent. For example, a building that didn’t offer flexible workspace would need to provide more space to accommodate the same requirement, therefore becoming more expansive for a tenant.
In recent months we have seen an acceleration of franchise partnerships signed by global flex space providers which further demonstrate the growing appeal of this model, and the best local example of a successful in-house operation is Precinct Properties’ Generator co-working. The integration of the co-working operator into Precinct’s operations has enabled them to retain a competitive advantage by providing seamless integration between the traditional leasing and flexible workspace offering.
If you would like to know how DB Interiors can help you, why not get int touch with them, and for more information on interior design NZ and interior design Wellington please go to http://dbinteriors.co.nz.
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