Commercial property expert reveals what employees want in an office location
A surge in landlords investing in semi-commercial property was recently reported in the UK, as applications for new purchases have nearly doubled this year compared with 2023.
As landlords look to diversify their property portfolios by turning to semi-commercial property, what does this mean for businesses looking to let commercial properties and what important factors do they need to consider for employees?
The commercial property agency Savoy Stewart were keen to investigate what to consider when deciding on an office location and what employees are looking for in an office space, as well as looking into the debate around returning to the office and what the benefits are to the economy.
What do employees look for in their office location?
When it comes to selecting an office location, it’s important to be mindful of what your employees will consider as key factors to ensure their work environment meets their needs and preferences.
- According to Savoy Stewart, the most important consideration when selecting an office space is the proximity to transport links. Accessibility to public transport is crucial, especially in large cities where many employees rely on buses, trains or tubes for their daily commute. Choosing a location with good transport links can significantly reduce commute times and will in-turn enhance work-life balance.
- Coincidentally, finding a location that also offers parking availability can also be key, more particularly in suburban or rural locations where public transport isn’t as accessible.
- Consider nearby amenities as employees appreciate having amenities nearby, such as restaurants, cafes, gyms and retail – all within walking distance. Such amenities can make breaks and after-work socials more enjoyable and convenient, thus creating a stronger team, all contributing to overall job satisfaction.
- In the present climate, safety and security is a major factor employees are now looking for in an office space. The safety of an office’s location is a significant concern as employees prefer areas with low crime rates and good lighting to ensure their well-being when arriving early or leaving late.
- Not to mention, finding somewhere close to residential areas can always be a qualifying factor as those with families want to be close to home and schools, a shorter commute can greatly improve a work-life balance and reduce daily stress.
Returning to the office
The ongoing debate around returning to the office in the post-covid world centres around several key points, reflecting both advantages and concerns from employers and employees alike.
Is the return to office life beneficial to the economy?
Short-term benefits are that offices support local economies as they drive demand to nearby services such as cafes, restaurants, retail stores…etc. This kind of local economic activity is crucial for urban centres.
In addition, high occupancy rates in office buildings support the real estate market which is vital to the economic stability in most cities.
Long-term benefits would be that in–person work supposedly facilitates quick decision making and suggests more effective collaboration which can drive business growth and innovation, which in turn can lead to job creations and economic expansion further down the line.
Reasons for returning
Many of those for the argument of returning to the office agree that in-person work enhances more spontaneous interactions which can foster creativity, innovation and stronger team dynamics. In-person work spaces create great collaboration and networking opportunities and help build social capital which can be crucial for career growth.
Offices are often designed to minimise distractions and provide an environment conducive to focused work. A structured environment and routine is said to enhance productivity for employees compared to remote work.
Regular face-to-face interactions can be paramount for an employee’s mental health and wellbeing as remote working experiences can sometimes lead to loneliness and isolation. An office environment can create clear separation boundaries between work and personal life and can reduce burnout associated with blurred boundaries at home.
Reasons against returning
Those that are against returning to the office agree that remote working has given employees a better balance between their personal and professional lives by emulating factors such as commute times and providing more flexibility in managing their daily schedules, and with that flexibility, it is said to help reduce stress and improve overall well-being and work productivity.
It was also reported that employees actually felt more productive when working from home as they felt there were fewer distractions, as their personalised work environment gave them the ability to manage their time more effectively. The absence of commuting time also allows for more focused work hours.
One of the strongest arguments to wanting to work remotely is it majorly reduces expenses, such as commuting (especially transport costs), work attire and daily meals. These savings can be significant, especially for those living in expensive urban areas.