Defining the future of London’s office leasing market

• Expect an even greater influence from the hospitality sector during the ’20s
• This is demonstrated through the success of locations such as Here East and White City

We highlight three valuable lessons for the wider London office market as we enter the ‘20s. 

Creating a sense of place and community

The days of the office being a self-contained space, impervious to outside influence are numbered. The future is about creating destinations – both physical and virtual – that generate positive, dynamic and uplifting workplace experiences and that support occupiers in attracting and retaining talent. 

The best offices of the future are talent magnets – whether they are in mixed-use schemes on the urban fringe or within revitalised city cores. 

Customer experience

Property has somewhat belatedly recognised the customer. Best-in-class landlords are now investing time in understanding and responding to them. This requires a different mindset and philosophy. It demands regular engagement with the occupier. It demands empathy with them and a commitment to create solutions to the business problems they face. 

Moreover, it requires an acceptance that the role of the landlord now transcends a simple concern with bricks and mortar to encompass the provision, curation and maintenance of soft services as part of the customer experience. Expect an even greater influence from the hospitality sector during the ’20s. 

Partnership

The adversarial nature of the occupational markets is under increasing attack. Best-in-class landlords will enter into partnership with customers as the rules of the game shift, in an age of flexibility and shorter fixed commitments. 

Landlords will also need to partner with specialist providers to deliver the services, flexibility and experiences the customer increasingly requires. More crucially, this partnership between landlords and customers will also be essential if the big challenge of the next decade – that of more sustainable approaches to real estate – is to be adequately addressed.