Business News Wales’ Post

As some of the biggest names in the professional services sector vacate expansive, legacy offices opting for serviced office space, we asked NG's Head of Agency, Thomas Szymkiw what owners of more traditional office accommodation should be doing to capitalise on this emerging trend. What do you need to think about >> https://lnkd.in/dMXDGrAF "Commercial landlords wanting to maximise return on unprofitable investments would do well to consider high-quality refurbishments and offering flexibility to potential tenants. It’s clear demand for flexible office accommodation is here to stay and the serviced sector will likely remain a lucrative one." For a conversation on progressing your property portfolio, call Thomas Szymkiw on 07564 580 300 or email thomas@ng-cs.com www.ng-cs.com #ServicedOffices #Evolve #Invest #MaximiseGrowth #CommercialProperty #CharteredSurveyors #CommercialRealEstate #PropertyPeople Charlotte Steggles MRICS James McArthur Jamie Pervin RICHARD SUTTON Richard Brown Jude Weston MRICS Alicia Lewis

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐎𝐜𝐜𝐮𝐩𝐚𝐧𝐜𝐲 𝐑𝐚𝐭𝐞𝐬 𝐚𝐧𝐝 𝐓𝐞𝐧𝐚𝐧𝐭 𝐒𝐚𝐭𝐢𝐬𝐟𝐚𝐜𝐭𝐢𝐨𝐧🚗🅿🏢 At Premium Car Parks, we’re working closely with some of the leading serviced office providers in the UK who recognize the value of offering comprehensive parking solutions in central locations. These companies know that providing a full suite of benefits, including discounted parking, significantly boosts interest in their office spaces. As a commercial agent, you can leverage this approach too. If serviced offices see the value, shouldn’t you? As 𝐂𝐥𝐚𝐫𝐞 𝐁𝐚𝐢𝐥𝐞𝐲, 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐭 𝐒𝐚𝐯𝐢𝐥𝐥𝐬, points out: “𝐹𝑜𝑟 𝑙𝑎𝑛𝑑𝑙𝑜𝑟𝑑𝑠, 𝑡ℎ𝑒 𝑠𝑤𝑒𝑒𝑡 𝑠𝑝𝑜𝑡 𝑙𝑖𝑒𝑠 𝑖𝑛 𝑏𝑒𝑖𝑛𝑔 𝑎𝑏𝑙𝑒 𝑡𝑜 𝑎𝑡𝑡𝑟𝑎𝑐𝑡 𝑎𝑛𝑑 𝑎𝑐𝑐𝑜𝑚𝑚𝑜𝑑𝑎𝑡𝑒 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑑 𝑜𝑓𝑓𝑖𝑐𝑒-𝑠𝑡𝑦𝑙𝑒 𝑜𝑐𝑐𝑢𝑝𝑖𝑒𝑟𝑠, 𝑜𝑓𝑡𝑒𝑛 𝑤𝑖𝑡ℎ 𝑎 𝑦𝑜𝑢𝑛𝑔𝑒𝑟, 𝑣𝑖𝑏𝑟𝑎𝑛𝑡 𝑤𝑜𝑟𝑘𝑓𝑜𝑟𝑐𝑒, 𝑤ℎ𝑖𝑙𝑒 𝑛𝑜𝑡 𝑎𝑙𝑖𝑒𝑛𝑎𝑡𝑖𝑛𝑔 𝑚𝑜𝑟𝑒 𝑡𝑟𝑎𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑡𝑒𝑛𝑎𝑛𝑡𝑠.” - (Source: Savills.com). 🍬𝐇𝐞𝐫𝐞’𝐬 𝐡𝐨𝐰 𝐏𝐂𝐏 𝐜𝐚𝐧 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐡𝐢𝐭 𝐭𝐡𝐚𝐭 '𝐬𝐰𝐞𝐞𝐭 𝐬𝐩𝐨𝐭':🍭 𝐄𝐥𝐞𝐯𝐚𝐭𝐞 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐀𝐩𝐩𝐞𝐚𝐥: Integrating our parking solutions enhances the desirability of your properties, drawing interest from a diverse tenant base—ranging from innovative start-ups to established enterprises - thereby broadening your leasing prospects. 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐓𝐞𝐧𝐚𝐧𝐭 𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧: Offering discounted parking schemes as part of your lease agreements can significantly increase occupancy rates, ensuring your properties remain more consistently occupied and minimizing the financial impact of extended vacancies. 𝐖𝐞’𝐫𝐞 𝐟𝐥𝐞𝐱𝐢𝐛𝐥𝐞 𝐭𝐨 𝐬𝐮𝐢𝐭 𝐲𝐨𝐮𝐫 𝐧𝐞𝐞𝐝𝐬: From full parking proposals to boost your listings, quotes to incorporate into lease agreements, or just the ability to mention us as a cost-effective option in the area when the inevitable parking question comes your way, 𝐰𝐞'𝐯𝐞 𝐠𝐨𝐭 𝐲𝐨𝐮! If your portfolio looks more like the photo... Let’s discuss how PCP can help you attract the right tenants and elevate your property offerings. Connect with us to explore the possibilities! Please also feel free to reach out to me directly - I’m just an email or a phone call away and am always happy to help. Drop me an email on 𝐦𝐚𝐭𝐭𝐡𝐞𝐰.𝐬𝐢𝐦𝐦𝐨𝐧𝐬@𝐩𝐫𝐞𝐦𝐢𝐮𝐦𝐜𝐚𝐫𝐩𝐚𝐫𝐤𝐬.𝐜𝐨.𝐮𝐤 or a call at 𝟎𝟑𝟑𝟑 𝟐𝟐𝟐 𝟗𝟎𝟗𝟎. #𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥𝐑𝐞𝐚𝐥𝐄𝐬𝐭𝐚𝐭𝐞 #𝐏𝐚𝐫𝐤𝐢𝐧𝐠𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 #𝐓𝐞𝐧𝐚𝐧𝐭𝐒𝐚𝐭𝐢𝐬𝐟𝐚𝐜𝐭𝐢𝐨𝐧 #𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 #𝐎𝐟𝐟𝐢𝐜𝐞𝐒𝐩𝐚𝐜𝐞 #𝐎𝐜𝐜𝐮𝐩𝐚𝐧𝐜𝐲𝐑𝐚𝐭𝐞𝐬 #𝐑𝐞𝐚𝐥𝐄𝐬𝐭𝐚𝐭𝐞𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧

"Despite the COVID-related downturn in overall office market performance, prime office space has remained in relatively high demand." This has been fascinating to observe. One client secured an office in Midtown for $29 PSF. Another client secured an office on the same street for $88 PSF. The only difference? The client paying $29 PSF wanted a "great deal", while the client paying $88 PSF aimed to "wow" investors. Amenities, transportation hubs, and sophisticated owners keep prime offices...well, prime.

Refurbish or relocate? 🤔 📈 Sydney's corporate real estate scene in 2024 presents businesses with a crucial decision: stay put or explore new opportunities. The current market conditions in Sydney's CBD present a favourable climate for tenants, giving them the upper hand in negotiations, with incentives such as: • Shorter lease terms • Rental rebates of up to 50% • Rent-free periods • Contributions towards fit-out enhancements Learn about the strategic considerations to make when you're faced with an office lease expiry in our full blog article: https://lnkd.in/dCMjwBTV #AmicusAu #Office #LeaseExpiry

Greater Victoria’s office-leasing market will likely be stagnant for the rest of this year, with higher vacancy rates and more subleases as tenants look at downsizing, says a new market outlook, reported Western Investor. "A major factor is the work-from-home trend, which leaves tenants trying to understand what space they really need, said Ross Marshall, senior vice-president of the investment properties group at CBRE Ltd. in Victoria. Some have found they have more space than they need and they may look to sub-leasing it." https://lnkd.in/gjuxHeSK #victoria #office #leasing

Top London-focused landlords are betting on environmentally compliant office spaces at prime locations that offer higher rents as tenants become more selective in their real estate investments amid hybrid work trends in an uncertain economy. Demand for office spaces in London has risen to the highest level in a decade, with companies on the hunt for nearly 12 million square feet of real estate, according to a study by Knight Frank. Click the link below to read more:- https://lnkd.in/ekjYw7js

While many office markets around the nation are providing tenants with once in a generation rates, our team is seeing a divide in the Denver market between the best quality Class A and marginal buildings. This same condition exists in most every major metro area, including our own. As many companies are returning to the office, they’re wanting to provide their teams with the best spaces possible in Class A real estate, at prices that are above market in some cases, while Class B and C spaces are being overlooked. This recent article by my colleague in Denver offers tips to navigating divided markets, and shares how having an experienced tenant representative can be an asset to finding the perfect space for bringing your team back into the office. I share this as we see a similar dynamic here in our own local market. #tenantrepresentation #corporaterealestate #suburbanoffice #officeleasing #downtowndenver #coloradorealestate  Hughes Marino 

Positive news emerged from this morning’s NSW Office Market Report breakfast, with vacancy rates decreasing in Sydney’s CBD for the first time since July 2019. This shift is driven by the growing demand for premium office spaces with top-notch amenities, as businesses aim to entice employees back into the office while supporting a hybrid working lifestyle. Looking ahead to the second half of 2024, much of the new building stock entering the market is already pre-committed. This means many businesses will seek value by renewing leases or moving into existing buildings that offer amenities tailored for the collaborative and community-driven workplaces of the future. Interestingly, data indicates that over 75% of tenants prefer already fitted spaces, along with the incentives often associated with leasing these offices. Additionally, today's presentation underscored the ongoing need to revitalise Sydney’s B & C grade commercial building - a trend we at Intermain are passionate about! Intermain excels in refurbishing commercial buildings, collaborating with property owners and leasing managers to transform underutilised spaces into prime destinations. Our team’s expertise in delivering high-quality, flexible speculative suites, sleek communal areas, and sought-after amenities is backed by our comprehensive end-to-end services, saving you time, money, and hassle. It was great to connect with peers in the property sector this morning. A big thank you to the Property Council of Australia and Brookfield Properties for hosting such an insightful event! #officemarketreport #futureworkplace #speculativesuites #buildingrefurbishment

Highly amenitized office buildings command higher rents and lower vacancy rates compared to the rest of the Class A market and is crucial for attracting tenants. Great insights from Sheena Gohil and Bob Shanahan:  https://bit.ly/3XfknvV.

If you have ever wondered how amenities affect office building rents and values, here is a JLL pass at the question: https://lnkd.in/eeeq9uQf