The Office Isn’t Dead, But How Redundant Is It: Hybrid, Remote, Etc
The hybrid, remote, agile, static, distributed, activity-based etc work models are changing work and work patterns. By how much? The jury is still out. As leases expire over the next 3-5 years the data will get richer and more revealing.
However, the flexible workplace revolution is with us and so far seems to be pointing to more office space becoming redundant rather than less.
This is backed by recent research which predicts “work from home (et al) will result in net office tenant demand decline of up to 15 per cent over the next three to five years” (C&W). Market players at the coal face think this could be up to 20%.
Whatever the number, more redundancy is to come – slowly.