Authors: Alice Dockar, Partner and Will Turnbull, Senior Associate, Real Estate London
New technology is changing the way people live and work, and flexible workspace is the subject of several events at this year’s MIPIM real estate conference. Debate at the conference has centred around whether the changes led by technology are temporary or permanent and how the industry and its participants, including landlords, tenants, agents and financiers, will adapt to this new world.
In this post, HSF partner Alice Dockar and senior associate Will Turnbull provide some observations from MIPIM on this debate.
Will Turnbull, Senior Associate, Real Estate: “Flexible workspace is a huge and ongoing change in the way office space is used, and we expect it’s here to stay, with some sources suggesting that around 25-30% of office stock will be used on a flexible basis by the end of the next decade. The attractions of flexible workspace look to be ever more relevant – flexibility and certainty of cost, and adaptable facilities in the perfect locations”.
Alice Dockar, Partner, Real Estate: “In the workspace arena, the current exciting challenge for developers and contractors is how to remain at the forefront of designing and developing space that serves a co-working culture. World class digital connectivity is part of this change, and individual occupiers don’t see their buildings as starting and finishing at the entrance so agility of workspace is important”.
We have a HSF team attending the MIPIM conference this year, including lawyers from our London office, and from our French, German, Spanish and Australian offices, please contact us for more details.