We’ve updated our Central London office rental guide to 29th September 2021, indicating rents are broadly the same as the previous quarter. So arguably not much to comment on there.
What I do find interesting is the appearance of a 2 tier office supply. Without a doubt, the first “bog standard” tier is plentiful, but not massively wanted. On the other hand, the top tier is highly coveted, but harder to find.
The appearance of a 2 tier office supply is interesting. The “bog standard” tier is plentiful, but not massively wanted. On the other hand, the top tier is highly coveted, but harder to find.
There is, however, a plentiful supply of the same old boring London office space. Lifts, grey carpet tiles, bored looking commissionaires, budget institutional toilet cubicles with doors that don’t reach the floor (you may remember these from school) with a supply of toilet paper your fingers risk perforating when you exert even a little pressure.
The great green office con!
There is a sub category of the above boasting the special addition of GREEN! Very clever interior designers (not strangers to a little wacky backy, perhaps?) have come up with the following innovative idea! They take large dollops out of the green colour palette, then apply them liberally onto office surfaces.
By covering doors, light fittings, wall mounted air conditioning units, single wall panels and the like with paint, they can somehow delude returning office workers into feeling they are still working outdoors in the Cotswolds! An additional sparse provision of “real plants” placed in strategic positions (e.g. on top of filing cabinets) can be used to enhance this “back to the country” feel good factor!
By covering surfaces with green paint, designers believe they can somehow delude returning office workers into feeling they are still working outdoors in the Cotswolds!
Genuine high quality office space is in demand!
On the other hand there is a relatively small supply of office space providing the things that tenants genuinely want. In essence this translates into well located cool office space with volume, natural light and views. On site staff are trained to treat tenants like customers who need to be looked after. “Must have” amenities include plentiful bicycle parking, well maintained showers / changing facilities and if possible a bit of exclusive or shared outside space!
There is most definitely a growing demand for quality office space. In my opinion, this will be one of the lasting legacies of the pandemic. However, one thing is certain: simply painting your interior green won’t cut it!