Industry Insight With Lee Mogridge, head of national commercial property consultants Lambert Smith Hampton Wales
Space matters inside and out It is hard to believe that it is now eight years since the 2008 financial crisis. One factor to have emerged is the broad consensus that cost-efficiencies are the ‘new normal’. As commercial property accounts for around 20 per cent of business operating costs, how workspace requirements are approached is critical for organisations. Those getting it right, are companies that review wider business needs and engage with different business units such as IT and HR functions, facilities management and estates teams. These efforts pay off as substantial savings are possible. It is an area we address when working with organisations and what happens outside the building
is as significant as what happens inside. It is important to review the wider work environment; transport and travel, job roles, flexible working, catering and facilities as all these factors impact on how people perform. It is also possible to look at funding options, re-gearing leases to re-balance the portfolio, review cost vs. benefits of vacating leased premises, taxation and VAT implications, cash-flow and capital receipts. All factors that add up. This may sound a significant undertaking but it is essential when developing a workplace strategy. From a practical point of view, it makes sense to recruit specialists that can deliver change management, interior design
IT IS IMPORTANT TO REVIEW THE WIDER WORK ENVIRONMENT; TRANSPORT AND TRAVEL, JOB ROLES, FLEXIBLE WORKING, CATERING AND FACILITIES AS ALL THESE FACTORS IMPACT ON HOW PEOPLE PERFORM. and architecture, occupancy and space planning and set up routes to manage and interpret performance data. As the average desk space costs approximately £8,000 per annum, this upfront effort and analysis pays dividends.
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