Office space in the UK is declining. A survey carried out by the Royal Institute of Chartered Surveyors (RICS) found that the availability of office space across the country has declined for the sixth quarter in a row. The decline is at the fastest rate since the late 1990s.
Part of the reason is the increase in property that is earmarked for residential conversion. Often more money can be made in residential rental than renting out a property for commercial use such as office space.
In the survey, one in five people who took part said that 10% of office space in London is now designated to be converted into residential spaces.
Over half of surveyors reported a growth in demand for office, retail and industrial space. The demand for commercial space has risen across the entire country with 32% of people saying that the availability of office and retail properties has fallen.
So demand is rising and availability is falling. What happens next?
Will the office space of the future involve ‘hot desking’ where there are fewer desks and a ‘mobile’ ethos which means you keep moving where there is a desk space available and make use of communal office areas? For some industries encouraging employees to work from home might be a solution. Where would that leave retail and industrial industries though? It is clear that the office space of the future will have to adapt to deal with these space issues.
Here at Ultimate we specialise in interiors for offices, hotel and leisure as well as education and healthcare. We can also help you fit out your home office with quality, visually stunning pieces. For advice on office design or to find out more please get in touch.
We can’t predict what the office space of the future might look like, but we can help you get your existing space working for you!
Posted February 24, 2015